In Germany, enormous sums of money are invested in the development of new technologies and innovations. No other country in Europe invests greater amounts in research and development (R&D). For more than a decade, Germany’s R&D expenditures have been rising continuously.
In 2015, public and private spending on research projects in Germany amounted to approximately EUR 87 billion – representing 2.5 % of Gross Domestic Product (GDP). This share places Germany fifth in Europe, behind the Scandinavian countries (Finland, Sweden, Denmark) and Austria, but significantly ahead of France and the United Kingdom and above EU-average.
This means that Germany is well on track to achieving the 3 % goal specified by the European Union within the coming years. More than two thirds of the expenditure have been accounted for by research intensive private business.