With a population of 83 Million, Germany is the largest market and the most populous country in the EU. Germany has a strong commitment to a closer European worldwide economy and uses the common European currency, the Euro. The German economy is highly developed; it has the largest national economy in Europe and the fourth-largest in the world based on the nominal GDP measures. The country accounts for a quarter of the overall euro area economy.
Berlin, the capital city
| Official name | Federal Republic of Germany |
| Area | 357,386 km² |
| Population | 83,697,898 |
| Capital | Berlin |
| Regions | 16 Federal States |
| Member of | The EU, the United Nations, the OECD, NATO, the G7, and the G20. |
| Currency | Euro |
| Official language | German |
Imports and Exports of Germany
Germany is the biggest capital exporter and one of the largest industry exporters globally. The country recorded the highest trade surplus in the world worth $310 billion in 2016. The gross domestic product per capita (GDP) is above 40,800. Exports account for 41% of national output.
The top 10 exports of Germany:
- Vehicles
- Machinery
- Chemical goods
- Electronic products
- Electrical equipment
- Pharmaceuticals
- Transport equipment
- Basic metals
- Food products
- Rubber plastics
German Automotive
The service sector accounts for the largest share of the total GDP at around 70%, while industry 29.1%, and agriculture 0.9%.
Some major (stock listed) companies in Germany: Adidas, Allianz, BASF, Bayer, Beiersdorf, BMW, Commerzbank, Continental, Daimler, Deutsche Bank, Deutsche Börse, Deutsche Post, Deutsche Telekom, E.ON, Fresenius Medical Care, Fresenius, HeidelbergCement, Henkel, Infineon Technologies, K+S, Lanxess, Linde, Lufthansa, Merck, Munich Re, RWE, SAP, Siemens, ThyssenKrupp, Volkswagen.
Germany is the first major industrialized nation to commit to the renewable energy transition called “Energiewende”. Therefore, the country is one of the leading countries in developing and using greener technologies. In Germany, companies specializing in green technology have an estimated turnover of €200 billion. They expertise in power generation, sustainable mobility, material efficiency, energy efficiency, waste management, and recycling, and sustainable water management.
The industry is dominated by family-owned companies, 99 per cent of all German companies specializing in renewable energy belongs to the German “Mittelstand”, i.e. small and medium-sized enterprises. On the other hand, of the world’s 2000 largest publicly listed companies measured on the amount of the revenue by Fortune Global 2000, 53 are headquartered in Germany.
R&D in Germany
Germany’s achievements in sciences have been significant as well since research and development initiatives form an integral part of the economy. With regard to triadic patents, Germany is in third place after the USA and Japan. With more than 26,500 registrations for patents submitted to the European Patent Office, Germany is the leading European nation. Last but not least, Germany is the world’s top location for trade fairs. For more information see the Federal Foreign Office of Germany.,
686,000 staff in R&D including 420,000 R&D researchers
Overview of the German Economy
With a population of 83 Mio., Germany is the largest market in Europe. Germany has a strong commitment to a closer European worldwide economy and uses the common European currency, the Euro.
The economy is highly developed; it has the largest national economy in Europe and the fourth-largest by nominal GDP in the world. The country accounted for one-quarter of the euro area economy. Germany recorded the highest trade surplus in the world worth $310 billion in 2016 and is the biggest capital exporter and one of the largest industry exporters globally. The gross domestic product per capita (GDP) is above 40,800.
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, machinery, chemical goods, electronic products, electrical equipment, pharmaceuticals, transport equipment, basic metals, food products, rubber, and plastics. Germany is the first major industrialized nation to commit to the renewable energy transition called “Energiewende”. Therefore, the country is one of the leading countries in developing and using green technologies. Companies specializing in green technology have an estimated turnover of €200 billion with expertise in power generation, sustainable mobility, material efficiency, energy efficiency, waste management and recycling, sustainable water management.
Munich’s economy is based on high tech, automobiles, the service sector and creative industries, as well as IT, biotechnology, engineering and electronics.
Family-owned companies dominate the industry, 99 per cent of all German companies belong to the German “Mittelstand”, i.e. small and medium-sized enterprises. On the other hand, of the world’s 2000 largest publicly listed companies measured by revenue, the Fortune Global 2000, 53 are headquartered in Germany.
Germany’s achievements in sciences have been significant as well as research and development efforts form an integral part of the economy. Concerning triadic patents, Germany is in third place after the US and Japan. With more than 26,500 registrations for patents submitted to the European Patent Office, Germany is the leading European nation. Last but not least, Germany is the world’s top location for trade fairs.
For more information, see the Federal Foreign Office of Germany.
