According to an announcement made recently by a German association, in 2018, more than 72 billion euros or 79.2 billion U.S. dollars was spent for research and development purposes by German companies.
According to Stifterverband, which compiled the data on behalf of the German Ministry of Education and Research, that amount is 5 per cent or about 3 billion euros more than what the investment that had been made by German industries in the previous year.
According to the German association, there was no change year on year – at 19.5 billion euros, in the amount that was given to German companies, universities or research institutions in the form of contracts by the companies in the same period.
According to preliminary calculations by the Federal Statistical Office (Destatis), R&D expenditures were also significantly increased by German universities and the German government and that amounted to a total of about 32.6 billion euros.
According to the Stifterverband, an estimated 3.13 percent of its total economic output in R&D was invested by Germany in 2018.
“The increased efforts and investments in R&D show that the German economy is still on the right track. Industry and government are fully aware of the challenges and are taking up the competition,” commented Anja Karliczek, German Minister of Education and Research.
A segregation of the R&D investments made by the various individual economic sectors showed that the investment in R&D efforts was largely dominated by the in German automobile companies who had made a total investment of 27.1 billion euros in 2018.
“Germany is a highly innovative business location. For this to remain so, companies must produce new digital technologies and services. The automotive industry will continue to play a key role in this,” said Andreas Barner, President of Stifterverband.
A various German companies and foundations had started the Stifterverband as a joint initiative. The website of the association says the focus of the association is to completely immerse exclusively in consulting, networking and promoting improvements in the fields of education, science and innovation, according to its website.
(Adapted from XinhuaNet.com)