Subjects: SVY, ECO, EGV
2022 Marked a Record for German R&D Investments
BERLIN, March 19, 2024 /PRNewswire/ -- EUR 121.4 billion was spent in Germany on research and development ? more than ever before in a single year.
According to the Federal Statistical Office, the amount of money devoted to R&D rose by seven percent in 2022, reaching an all-time high. The figures include commercial, university and non-university research.
R&D investments by businesses grew by eight percent, reaching EUR 81.8 billion. That's more than two-thirds of all the money invested in R&D.
Expenditures for research and development in Germany have amounted to 3.1 percent of GDP since 2020. Germany has exceeded the EU guideline of three percent for R&D investments for the past six years in a row.
"The German government intends to increase the percentage of R&D to GDP to 3.5 percent by 2025," says Robert Hermann, CEO of the German agency for international economic promotion, Germany Trade & Invest. "The growth in this investment shows how much Germany prioritized research and development. It's a central element in Germany's drive to be one of the leading locations for investments in high tech."
Germany Trade & Invest (GTAI) is the economic promotion agency of the Federal Republic of Germany. GTAI supports German companies setting up in foreign markets, promotes Germany as a business location and assists foreign companies setting up shop in Germany.
Contact:
Andreas Bilfinger
Germany Trade & Invest
T: +49 30200099173
SOURCE Germany Trade & Invest
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