With increasing globalization and tougher international competition, export-oriented German industry is improving the amount of money spent for research and development. A new study prepared by analysts at the Stifterverband für die Deutsche Wissenschaft says total R&D budgets for all branches have grown from €42.2 billion in 2000 to more than €47 billion this year.
The automotive sector has put the highest amount into research, with €15.6 billion this year, a drop from €16.6 billion in 2004. The electronics sector, which includes computers and office equipment, saw €8.8 billion going to R&D this year, while the chemical industry (including plastics) is at €7.7 billion. The machine tool sector is expected to invest €4.5 billion this year, according to the study. -Robert Colvin [email protected]
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