Germany Economi

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Germany Economi

The economy of Germany is focused on industrially produced goods and services, while the production of raw materials and agricultural goods has little economic significance. The major trade partners are other industrialized countries, with total foreign trade is made in a considerable surplus. The main exports of the German economy are products of the automotive industry and in turn the major energy commodities imported goods. The gross domestic product amounts to 2489.4 billion (as of 14 January 2009, for the year 2008

Daimler, Siemens, Porsche, Lufthansa, SAP. German companies enjoy an excellent international reputation. They represent the world's respected as a quality seal "Made in Germany". They stand for innovation, quality and technical advantage. But the third-largest economy on earth, which are not only the "global player", but also many world leaders from the middle class, the heart of the German economy. They all build on good economic conditions in the "Land of Ideas" and the excellent qualifications of workers. Foreign investors also appreciate it - as a location advantage in times of global economy.

Germany is among the most developed industrial nations of the world after the United States and Japan the third largest economy. With 82.3 million inhabitants, Germany is the largest and most important market in the European Union (EU). In 2007, in Germany, generated a gross domestic product (GDP) from 2.423 trillion euros, representing a sum of 29,455 euros per capita. This achievement is based primarily on foreign trade. With an export volume of 969 billion euros (2007), more than one third of gross national income, Germany is the world's largest exporter of goods. 2007, Germany became the fifth consecutive "export champion". Thus Germany than any other country is globally oriented and economically stronger than many other countries are intertwined with the global economy. More than one in four euros is in the export of goods and services worth - more than one in five jobs depends on foreign trade. The most important economic centers in Germany are the Ruhr (industrial region in transformation to high-tech and) service center, the metropolitan areas of Munich and Stuttgart (high tech, automotive), Rhein-Neckar (Chemistry), Frankfurt (finance), Cologne, Hamburg (port, Airbus aircraft, the media), Berlin and Leipzig.

Recently, the German economy has experienced a robust cyclical upswing - in 2007 it grew by 2.5 percent. With 8.4 percent of the increase in business investment was also made very clear. With the economic growth that benefited from the growth trends both from abroad and from within the country appears to involve a reduction in the number of registered unemployed people. In December 2007 it stood at 3.4 million - which was the lowest December level since 1992. This positive economic and labor market development, there are a number of factors. The economic policy has improved the so-called framework conditions and the companies have improved their competitiveness. Thus, the wage labor costs were reduced, the labor market more flexible and reduce bureaucracy. Also entered 2008, the reform of corporation tax in force. Thus the companies will continue to pay significantly less. The entrepreneurs have also shopping and optimized cost structures, investing in innovative products and made fit for competition.

From the perspective of international investors (international investors), Germany is one of the most attractive locations around the world. The resulting recent surveys of international managers as well as studies of internationally renowned consulting firms. In a 2007 study of audit and consulting firm Ernst & Young, the attractiveness of the economy, Europe has been studied. Thus, Germany can claim from the perspective of foreign managers as the leading location in Europe. In international comparison, Germany site performs particularly well in research and development, starting in the qualification of its workforce and logistics. There are also the central geographical location, infrastructure, legal certainty and the workforce. Between 1997 and 2006 were made in Germany 473 billion U.S. dollars of foreign direct investment, including major investments by companies such as General Electric or AMD. Thus, Germany ranks fifth among the countries with the largest foreign direct investment. Plus as an essential qualification of workers is considered. Approximately 81 percent of workers have received vocational training, 20 percent of them have a university or college degree. Another pillar of the high skill level is the "dual system" of vocational education, linking school-house with training and produces a recognized high quality of training.

Because of the high export orientation of Germany is interested in open markets. The main trading partners are France, the United States and Britain. According to France in 2006 goods and services worth 85 billion euros have been exported to the United States worth 78 billion euros and the UK, worth 65 billion euros. Since the Eastern enlargement of the EU (2004 and 2007) is seen next to the trade with the "old" EU countries, a strong upturn in trading with the eastern European EU member countries. Overall, a good ten percent of all exports are made in these countries.

Steadily growing importance of trade and economic relations with emerging Asian countries like China and India. Were the German exports to the region of 1993 or at 33 billion euros, it is now increased by more than tripled to 104 billion euros (2006). The number of German companies in Asia increased during the same period of 1800 to 3500, direct investment has quadrupled in that time over.

Germany is a social market economy, that is: The state guarantees free economic action, trying, however, a social balance. Also, because of this concept, Germany is a country with high social peace, which is reflected in very few labor disputes. On average, from 1996 to 2005 was a strike in Germany per 1000 employees in just 2.4 days, and thus even less than in Switzerland, with an average of 3.1 days of strike. The social partnership of trade unions and employers is permitted by the institutionalized conflict resolution within the framework of collective labor law. The Basic Law guarantees the free collective bargaining, which accords the two sides of the right to regulate Arbeitsdingungen independently in collective agreements.

Economic

Most working people (72.3 percent) are employed in Germany in the service sector. Are essential, as are including transport, hospitality, the social and health care, housing and the financial industry. The production sector, 25.5 percent of the workforce, fisheries, agriculture and forestry 2.2 percent (data: 2006).
Germany has considerable natural resources, particularly in the field of coal (and coal), lignite, potash in the area, building materials and stones and earth. In addition, natural gas reserves are located in Lower Saxony. The densely populated industrial country with the fifth-largest energy consumption (after USA, China, Japan and India) around the world is still dependent on commodity imports. The importance of domestic coal from the Ruhr and the Saar and the lignite in Saxony and Saxony-Anhalt declined in recent decades. 2005, about 47 percent of electricity production and 24 percent of total energy from coal [4]), coal and coke produced from it is done today, especially for the local steel industry and metal processing industry is important. Our own generated from oil production in Germany in the 1960s to 30% of domestic demand, now only 3%.
Even agriculture, forestry and its downstream industries are key industries, based in Germany. Forest accounts for about one third of the land area, are in the economy as a whole timber according to the Consortium of German Forest Owners Associations (AGDW) more than one million employees and an annual turnover of more than 100 billion euros to be found.
Consumer spending in Germany amounted to 2008, around 1857 billion euros, of which 1404 billion and 453 billion euros by private individuals through government spending.

Trading partner and foreign trade statistics

France is Germany's main trading partner. The total value of exports there in 2008 amounted to 96.86 billion euros, the total value of goods imported from France to Germany, for 2008 came to 66.71 billion euros. Overall, were exchanged in 2008 goods worth 163.57 billion euros between the two countries. The Netherlands is the second largest trading partner of Germany. Overall in 2008 exchanged goods and services valued at 137.72 billion euros between Germany and the Netherlands. These imports amounted to 72.08 billion euros to Germany, exports to the Netherlands amounted to 65.64 billion euros. The third-largest trading partners are the United States of America with a value share in total 117.53 billion euros, 46.06 billion euros of imports into Germany, and 71.47 billion euros in exports to the U.S. ..
Total 2008 goods worth 994.87 billion euro were exported to and imported 818.62 billion. This means that compared to the year 2006, a rise in exports by 11.3 percent and a rise in imports by 11.9 percent. The foreign trade balance in 2008) with a surplus of 176.25 billion euros (2006: 162.1 billion euros.
The strong euro, the German products in countries outside the euro zone, was considerably more expensive, had a very small, there goes most of the goods exported to EU countries. In 2008, the share of exports to the EU stood at 64 percent of total German exports. Only 10 percent of German exports go to America, 12 percent go to Asia.
Exports in 2006 were 21 percent of the German gross domestic product (imports to 14 percent and the domestic economy, ie economic transactions within the country) to 65 percent of GDP.
With an export value of 969 billion euro and a trade surplus of 199 billion euros in Germany in 2007 was again the country (commonly with the world's most exports, often called the "export world champion" means).
This record trade surplus (exports is significantly more) than imports, but also seen critical. Firstly, as Germany with its strong export orientation is dependent on the development abroad. On the other criticism is that the German economy through this current account imbalance prevents sustainable development in Europe. Germany benefits with its trade surplus with wage cuts them when neighboring European countries can not strengthen its domestic economy, but the neighbors turned increasingly to import into Germany.
Due to the increasing global trade leads to increased division of labor, and thus not only an increase of exports but also imports. Some economists, such as, for example, Hans-Werner Sinn, because of the increase of imported inputs of the opinion that Germany turn into a bazaar economy.

Trade Goods
Germany mainly exports (47.2 percent of total exports, 2007) automobiles, machinery, chemicals and heavy electrical equipment. Much of the German trade activities held within industrialized countries, the same industry or even the same company instead (see above), so are automobiles, machinery and chemical products are also key import products. However, significantly more of these goods from Germany exported than imported.
Motor vehicles and parts from making while 19.1 percent of German exports, 14.7 percent, machinery and chemical products 13.4 percent of German exports. Petroleum and natural gas (compared to export) Germany most important import goods (imports worth 61 billion euros, 2007).

Institutes
The economic demands, which are represented by the research institutes in the common diagnoses that correspond to the concept of so-called supply-side economics.
Fiscal institutions are committed to a reduction in borrowing and fiscal consolidation.
In the labor they put a view of the structural unemployment remains high for repeated measures, notably increases in low-wage sector, the incentives to work and improve the sustainable integration into employment. To enable the integration of unemployed into the work process is, according to the Institute, the rise in wages in the overall average less than the sum of the trend rate of inflation expectations and the trend rate of aggregate productivity growth lie.
Particularly significant was their policy positions in the spring report 2005, in which they demanded far-reaching economic reforms to overcome the weak growth of the German economy. The state must reduce its impact on economic activity and increase the scope for private initiative. The share of government spending in GDP, the state's share should be reduced. The state should reduce subsidies, lower taxes and new debt. In the area of social policy, citizens should take more responsibility. The state should be responsible only for providing basic sickness, unemployment and old age.
The majority of economists in Germany were inclined to such positions in recent years, supply-side economics. Thus, formulated in 2005, more than 250 German professors of economics supply-side doctrine a fundamental consensus in the Hamburg parade. According to Michael Huether (2009), a signatory of the Hamburg appeal is also part of the supply-side economics that, when strong demand slumps, such as in the context of the financial crisis of 2007, the adaptability of the supply-side economics overwhelm, must be based on a Keynesian situation which issues an urgent demand for policy making.
In its spring report 2009 the Institute held in the current crisis situation, the procedure adopted by the Federal Government's stimulus package, although in principle justifiable concerns. They also argue for a more expansionary monetary policy, but keep wage reductions, which would be useful. Some of its assessments and recommendations in detail:
Fiscal Policy: The two decided by the Federal Government's economic stimulus programs included with the investment projects, the reductions in marginal tax rates and the reduction of social security measures that can stimulate the growth medium. Therefore, it is acceptable according to the institutions they fund through a temporary debt. In its fall report 2008, she still believed, however, economic programs in the traditional sense are unlikely to be successful.
Monetary policy: The European Central Bank, ECB, has reduced significantly since the worsening of the recession and the interest. Given the depth of the economic downturn and the prospect that inflation in the euro area for the foreseeable future will remain significantly below the vision of the ECB to keep the institutions to adopt a more expansionary policy direction for appropriate, and the policy rate should be lowered to 0.5%.
Wage policy: Against the backdrop of recession and rising unemployment may worsen the bargaining position of trade unions, insofar as the wage bill is expected to decrease pressure. Redundancies will be avoided, it is the opinion of the Institute be useful in many cases, that employers and employees to agree on wage adjustments. For example, some collective agreements provide for the possibility to postpone tariff wage increases.

Germany
Gross domestic product (GDP) at purchasing power parity $ 2.833 trillion (2007)

official exchange rate $ 3.024 trillion (2007)

Real growth / growth rate 2.6% (2007)

per capita (PPP) $ 34,400 (2007)

by sector: agriculture 0.9%, industry 29.6%, services 69.5% (2007)

Employed Population 43.63 million (2007)

by occupation: agriculture: 2.8%, industry 33.4%, services 63.8% (1999)

Unemployment Rate 9.10%

Population below poverty line 11% (2001)

Household income or Vebrauch in percentages

Lowest 10%: 3.2%
Highest 10%: 22.1% (2000)


Distribution of family income 28 (2005)


Inflation rate (consumer prices) 2% (2007)

Investment (gross fixed) 18.4% of GDP (2007)

Budget / Cost Framework: Revenue $ 1.465 billion, expenditures $ 1.477 billion (2007)

Debt 65.3% of GDP (2007)

Industrial production growth rate 2.1% (2007)

Electricity


Production 579.4 billion kWh (2005)

Consumption 545.5 billion kWh (2005)

Exports 61.43 billion kWh (2005)

Imports 56.86 billion kWh (2005)

Oil


Production of 141,700 bbl / day (2005)

Consumption of 2.618 million bbl / day (2005)

Exports of 518,700 barrels / day (2004)

Imports 2.953 million bbl / day (2004)

Reserves of 367.2 million bbl (January 2006)

Gas


Production of 19.9 billion cu m (2005)

Consumption of 96.84 billion cu m (2005)

Exports of 9.42 billion cu m (2005)

Imports 86.99 billion cu m (2005)

Reserves of 246.5 billion cu (m January 2006)

Current Balance $ 185.1 billion (2007)

Exports $ 1.361 trillion f.o.b. (2007)

Export Partner

France 10.3%, U.S. 8.8% United Kingdom 8.3% Italy 7.2%, Netherlands 6.2%, Belgium 5.6%, Austria 5.4%, Spain 5%

Were

Machinery, vehicles, chemicals, metals and manufacturing / production, food processing, textiles

Imports / Imports

$ 1.121 trillion f.o.b. (2007)

Import Partners

France 9%, Netherlands 8.3%, U.S. 7%, Italy 6.1%, UK 5.9%, China 5.6%, Belgium 4.9%, Austria 4.2%

Were

Machinery, transport equipment, chemicals, foodstuffs, textiles, metals

Economic aid - recipient / recipients

n.a.

Reserves in foreign currency and gold

$ 111.6 billion (2006)

Debt Abroad

$ 4.489 trillion (2007)

Direct investment from abroad

$ 763.9 billion (2006)

Direct investment in foreign countries

$ 941.4 billion (2006)

Land use

arable land 33.13%
standing crops on 0.6%
Other land use 66.27% (2005)
Agricultural Products

Potatoes, wheat, barley, sugar beets, fruit, cabbages, cattle, pigs, poultry

Irrigation Area

4850-m2 (2003)
Mineral Resources

Coal, lignite, natural gas, iron ore, copper, nickel, uranium, salt, building materials, timber, arable land

Industries

one of the largest and most technologically advanced producers of iron, steel, coal, cement, chemicals, machinery, transport equipment, machine tools, electronics, food and beverages, shipbuilding, textiles

Fiscal year = calendar year

All information without guarantee
As of November 2007 (unless otherwise specified)

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