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Economy of Germany

Economy of Germany
Hauptwache Frankfurt am Main.jpg
Frankfurt, financial capital of Germany.
Currency Euro (EUR) = € 1 = 1.05 USD
calendar year
Trade organisations
EU, WTO and OECD
Statistics
GDP

$4.0 trillion(PPP, 2016),

$3.5 trillion (nominal; 2016)
GDP rank 4th (nominal) / 5th (PPP)
GDP growth
Increase +1.9% (2016)
GDP per capita
$48,000 (2016, PPP), $42,000 (2016, nominal)
GDP by sector
agriculture: 0.7%, industry: 30.2%, services: 69.1% (2015 est.)
0.5% (2016)
Population below poverty line
15.5% (2013)
28.3 (2013)
Labour force
43.5 million (2016)
Labour force by occupation
agriculture (1.6%), industry (24.6%), services (73.8%) (2011)
Unemployment 3.9% (November 2016)
Average gross salary
€43,300 ($47,000) annual (2015)
€27,100 ($30,000) annual (2015)
Main industries
iron and steel, coal, cement, mineral fuels, chemicals, plastics, production machinery, vehicles, trains, shipbuilding, space and aircraft, machine tools, electronics, information technology, optical and medical apparatus, pharmaceuticals, food and beverages, textiles
17th (2017)
External
Exports $1.5 trillion (2014 est.)
Export goods
motor vehicles, machinery, chemicals, computer and electronic products, electrical equipment, pharmaceuticals, metals, transport equipment, foodstuffs, textiles, rubber and plastic products
Main export partners
 United States 9.6%
 France 8.6%
 United Kingdom 7.5%
 The Netherlands 6.6%
 China 6%
 Italy 4.9%
 Austria 4.8%
 Poland 4.4%
  Switzerland 4.2% (2015)
Imports $1.3 trillion (2014 est.)
Import goods
machinery, data processing equipment, vehicles, chemicals, oil and gas, metals, electric equipment, pharmaceuticals, foodstuffs, agricultural products
Main import partners
 The Netherlands 13.7%
 France 7.6%
 China 7.3%
 Belgium 6%
 Italy 5.2%
 Poland 5%
 United States 4.7%
 Czech Republic 4.5%,
 United Kingdom 4.2%,
 Austria 4.3%
  Switzerland 4.2% (2015)
FDI stock
$1.3 trillion (2015-11)
€2.0 trillion (2015-Q3)
Public finances
72% of GDP (2015)
Revenues €1.0($1.1) trillion (2015)
Expenses €0.9($1.0) trillion (2015)
Economic aid

donor: $7.5 billion (€5 billion), 0.28% of GDP

Germany is ranked on the CPI 2013 as 12th for the perceived level corruption
Standard & Poor's: AAA
Outlook: Stable
Moody's: Aaa
Outlook: Stable
Fitch: AAA
Outlook: Stable
Foreign reserves
$0.4 trillion (April 2015)
Main data source: CIA World Fact Book
All values, unless otherwise stated, are in US dollars.

$4.0 trillion(PPP, 2016),

donor: $7.5 billion (€5 billion), 0.28% of GDP

Germany is the largest national economy in Europe, the fourth-largest by nominal GDP in the world, and fifth by GDP (PPP). The country is a founding member of the European Union and the Eurozone. The economic model of Germany is based on the concept of the social market economy.

In 2016, Germany recorded the highest trade surplus in the world worth $310 billion, making it the biggest capital exporter globally.Germany is the third largest exporter in the world with 1.21 trillion euros ($1.27 trillion) in goods and services exported in 2016. The service sector contributes around 70% of the total GDP, industry 29.1%, and agriculture 0.9%. Exports account for 41% of national output. The top 10 exports of Germany are vehicles, machineries, chemical goods, electronic products, electrical equipments, pharmaceuticals, transport equipments, basic metals, food products, and rubber and plastics.

Germany is rich in timber, iron ore, potash, salt, uranium, nickel, copper and natural gas. Energy in Germany is sourced predominantly by fossil fuels (50%), followed by nuclear power second, then gas, wind, biomass (wood and biofuels), hydro and solar. Germany is the first major industrialized nation to commit to the renewable energy transition called Energiewende. Germany is the leading producer of wind turbines in the world. Renewables now produce over 27% of electricity consumed in Germany.


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Wikipedia

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