German economy
Frankfurt, financial capital of Germany.
|
|
| Currency | Euro (EUR) = € 1 = 1.05 USD |
|---|---|
| calendar year | |
|
Trade organisations
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EU, WTO and OECD |
| Statistics | |
| GDP |
$4.0 trillion(PPP, 2016), $3.5 trillion (nominal; 2016) |
| GDP rank | 4th (nominal) / 5th (PPP) |
|
GDP growth
|
 +1.9% (2016) |
|
GDP per capita
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$48,000 (2016, PPP), $42,000 (2016, nominal) |
|
GDP by sector
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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
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43.5 million (2016) |
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Labour force by occupation
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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) | |
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Main industries
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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
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motor vehicles, machinery, chemicals, computer and electronic products, electrical equipment, pharmaceuticals, metals, transport equipment, foodstuffs, textiles, rubber and plastic products |
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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.) |
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Import goods
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machinery, data processing equipment, vehicles, chemicals, oil and gas, metals, electric equipment, pharmaceuticals, foodstuffs, agricultural products |
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Main import partners
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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) |
|
Gross external debt
|
€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 |
|
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Foreign reserves
|
$0.4 trillion (April 2015) |
$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