German companies shell out 72 bln euros in R&D in 2018

CNC
Added On December 1, 2019

German companies invested more than 72 billion euros, or about 79.2 billion U.S. dollars, in research and development (R&D) in 2018. Economy Report has more. According to a German association, the value of German research contracts awarded to companies, universities or research institutions remained unchanged at 19.5 billion euros compared to the previous year. German universities and German government also "significantly increased" their R&D expenditures, which amounted to about 32.6 billion euros, according to preliminary calculations by the Federal Statistical Office. In 2018, Germany invested an estimated 3.13 percent of its total economic output in R&D. A look at the different economic sectors showed that German automobile manufacturers "dominate" R&D expenditures with a total of 27.1 billion euros.