U.S. GERD grew at a faster rate than GDP over 2010–21 on a compound annual growth rate basis. And while the United States remains the top R&D performer globally, other countries show continued growth in GERD and R&D intensity (R&D-to-GDP ratio). In 2021, the U.S. R&D intensity was 3.5%, based on internationally comparable OECD statistics. Other economies with R&D intensities above 3.0% include Israel and South Korea (both with intensities above 4.0%). Eight economies had intensities between 3.0% and 4.0%, including Taiwan, the United States, Japan, and Germany. Countries with intensities above 2.0% included the United Kingdom and China.

For the United States, the business sector continued to be the leading performer and funder of R&D. Manufacturing industries accounted for the largest proportion of R&D for companies with 10 or more employees, whereas the professional, scientific, and R&D services industry accounted for the largest proportion of R&D by microbusinesses. And U.S.-located companies continue to invest in software, AI, biotechnology, and nanotechnology R&D.

Consistent federal government support for R&D is a key feature of the U.S. R&D enterprise. The CHIPS and Science Act of 2022 appropriated $52.7 billion to revitalize the U.S. semiconductor industry along the supply chain, including $13.7 billion supporting R&D, workforce development, and related programs. More broadly, federal R&D funding constitutes the second-largest overall funding source and the largest source for U.S. basic research performance. The higher education sector was the largest performer of basic research and the largest recipient of federal R&D funding; in 2022, however, total R&D performance by the higher education sector did not increase after adjusting for inflation.