Huawei boosted Europe’s economy by €12.8 billion through its economic activity in 2018, supporting 169,700 jobs either directly or through the supply chain, according to a study by Oxford Economics.

Huawei’s direct contribution to European GDP of €2.5 billion in 2018 is more than double what it was back in 2014, representing annual growth of 19% per year in real terms. Over the same period, the total employment supported by Huawei rose by an average of 13% a year, and the total tax revenue it generated by 17% a year.

“The new European Commission wants to deliver digital sovereignty for the EU by establishing a strong technological ecosystem across the continent. This report clearly shows Huawei to be among the top companies in Europe innovating the products and services that will help the EU accomplish its targets,” commented Abraham Liu, Huawei’s Chief Representative to the EU Institutions.

“We are making a sizeable contribution to the EU economy, helping Europe improve productive capacity and ensuring its firms and industries are not left behind by the pace of digital transformation. Our aim now is to help the European Commission achieve its goal of making Europe ‘fit for the Digital Age’.”

Huawei has 23 research facilities across 12 countries in Europe, and research programme involving 140 European universities, focusing on wireless to optical technology, cloud computing and new materials.