Inflation-Adjusted Federal R&D Obligations Expected to Decline for Second Year from FY 2021 High

Christopher V. Pece

NSF 24-324

 | 

May 20, 2024

Total federal R&D obligations: FYs 1951–2023
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Total federal R&D obligations: FYs 1951–2023

(Billions of dollars)
Fiscal year Current dollars Constant 2017 dollars
1951 1.5 12.0
1952 1.9 14.5
1953 1.9 14.3
1954 1.8 13.0
1955 2.0 14.9
1956 3.0 21.3
1957 3.9 27.0
1958 4.6 30.4
1959 6.7 43.9
1960 7.6 48.8
1961 9.1 57.8
1962 10.3 65.0
1963 12.5 78.0
1964 14.2 87.8
1965 14.6 88.6
1966 15.3 90.9
1967 16.5 95.2
1968 15.9 88.6
1969 15.6 83.2
1970 15.3 77.5
1971 15.5 74.7
1972 16.5 75.7
1973 16.9 73.9
1974 17.4 71.5
1975 19.0 70.9
1976 20.8 72.3
1977 23.5 76.1
1978 25.8 78.6
1979 28.1 79.2
1980 29.8 77.2
1981 33.1 78.0
1982 36.4 80.3
1983 38.7 81.7
1984 42.2 86.1
1985 48.4 95.4
1986 51.4 99.2
1987 55.3 104.2
1988 56.8 103.7
1989 61.4 107.8
1990 63.6 107.7
1991 61.3 100.3
1992 65.6 107.7
1993 67.3 105.0
1994 67.2 102.6
1995 68.2 101.9
1996 67.7 99.2
1997 69.8 100.6
1998 72.1 102.6
1999 75.3 105.9
2000 75.9 104.5
2001 84.5 113.6
2002 93.7 124.1
2003 103.5 134.5
2004 112.1 142.1
2005 118.8 146.2
2006 121.7 145.1
2007 127.3 147.6
2008 127.1 144.4
2009 141.1 158.7
2010 140.4 156.5
2011 135.5 148.2
2012 138.5 148.7
2013 125.7 132.6
2014 130.6 135.2
2015 128.8 132.0
2016 115.8 117.8
2017 119.0 119.0
2018 129.4 126.6
2019 142.4 136.8
2020 167.4 158.7
2021 189.6 173.8
2022 190.4 163.1
2023 (preliminary) 186.4 152.7
Note(s):

Gross domestic product implicit price deflators (2017 = 1.00000) were used to adjust current dollars for inflation. The federal fiscal year cycle changed in FY 1977, from 1 July–30 June to the current 1 October–30 September cycle; no data were collected for the 3-month transition period of July–September 1976. FYs 2009 and 2010 obligations include additional funding provided by the American Recovery and Reinvestment Act of 2009. Beginning in FY 2016, development obligations were more narrowly defined as "experimental development,” most notably excluding Department of Defense Budget Activity 7 (Operational System Development); thus, data from FY 2016 on are not directly comparable with previous years. FYs 2020–22 obligations include additional funding provided by supplemental COVID-19 pandemic-related appropriations.

Source(s):

R&D obligations data from National Center for Science and Engineering Statistics, Survey of Federal Funds for Research and Development. Gross domestic product implicit price deflators from Office of Management and Budget, Budget of the U.S. Government, Fiscal Year 2025.

Federal obligations for research and development (R&D) in FY 2022 rose 0.4% to $190.4 billion, up from $189.6 billion in FY 2021; FY 2023 obligations are expected to decline 2.1% to $186.4 billion based on preliminary estimates. Adjusted for inflation, however, FY 2022 R&D obligations totaled $163.1 billion, down 6.1% from the FY 2021 high of $173.8 billion. Obligations for FY 2023 are expected to decrease a further 6.4% in constant dollar terms, to $152.7 billion—a decline of 12.1% from FY 2021.

Suggested Citation: Pece CV; National Center for Science and Engineering Statistics (NCSES). 2024. Inflation-Adjusted Federal R&D Obligations Expected to Decline for Second Year from FY 2021 High. NSF 24-324. Alexandria, VA: U.S. National Science Foundation. Available at https://ncses.nsf.gov/pubs/nsf24324

NSF 24-324

 | 

May 20, 2024

Christopher V. Pece

NSF 24-324

 | 

May 20, 2024

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