Germany sets new record for research expenditure in 2012

Germany set a new record in research expenditure in 2012, the Donors' Association for the Promotion of Sciences and Humanities in Germany said on Tuesday. According to the current research and development survey of the association, German companies spent 53.8 billion euros (74 billion U.S. dollars) for the internal research and development in 2012, 5.3 percent more than last year. The new federal government's aim to spend 3 percent of GDP on research and development is thereby achieved, said the survey. "We want our private and public spending on research and development to be one of the front runners in the world," said Kurt Bock, vice president of the Donors' Association. The survey said research and development activities came mainly from industry, with 86 percent of the internal research and development expenditures financed by manufacturing enterprises. Through donations, membership fees and other forms of income, Donors' Association generates annual funds of over 120 million euros, making it the largest private institution of its kind in Germany.