Germany Economy: from the All Country Info reference guide to country facts

Germany Economy

Germany Economy: A summary of information about Germany Economy, from government research data as well as independent research and other sources.

You are here:
All CountriesGermany > Germany Economy

Germany: Economy

Economy - overview
Germany possesses the world's third most
technologically powerful economy after the US and Japan, but its basic
capitalistic economy has started to struggle under the burden of
generous social benefits. Structural rigidities - like a high rate of
social contributions on wages - have made unemployment a long-term,
not just cyclical, problem, while Germany's aging population has
pushed social security outlays to exceed contributions from workers.
The integration and upgrading of the eastern German economy remains a
costly long-term problem, with annual transfers from the west
amounting to roughly $100 billion. Growth slowed to 1.5% in 1999,
largely due to lower export demand and still-low business confidence.
Recovering Asian demand, a push for fiscal consolidation, and newly
proposed business and income tax cuts - if passed - are expected to
boost growth back to trend rates around 2.5% in 2000 and beyond. The
adoption of a common European currency and the general political and
economic integration of Europe will bring major changes to the German
economy in the early 21st century.
GDP
purchasing power parity - $1.864 trillion (1999 est.)
GDP - real growth rate
1.5% (1999 est.)
GDP - per capita
purchasing power parity - $22,700 (1999 est.)
GDP - composition by sector
agriculture: 1.2%
industry: 30.4%
services: 68.4% (1999)
Population below poverty line
NA%
Inflation rate (consumer prices)
0.8% (1999 est.)
Labor force
40.5 million (1999 est.)
Labor force - by occupation
industry 33.7%, agriculture 2.7%,
services 63.6% (1998)
Unemployment rate
10.5% (1999 est.)
Budget
revenues: $996 billion
expenditures: $1.036 trillion, including capital expenditures of $NA
(1999 est.)
Industries
among world's largest and technologically advanced
producers of iron, steel, coal, cement, chemicals, machinery,
vehicles, machine tools, electronics, food and beverages;
shipbuilding; textiles
Industrial production growth rate
0.9% (1999)
Electricity - production
525.356 billion kWh (1998)
Electricity - production by source
fossil fuel: 65.77%
hydro: 3.2%
nuclear: 29.06%
other: 1.97% (1998)
Electricity - consumption
488.041 billion kWh (1998)
Electricity - exports
39.1 billion kWh (1998)
Electricity - imports
38.56 billion kWh (1998)
Agriculture - products
potatoes, wheat, barley, sugar beets, fruit,
cabbages; cattle, pigs, poultry
Exports
$610 billion (f.o.b., 1999 est.)
Exports - commodities
machinery, vehicles, chemicals, metals and
manufactures, foodstuffs, textiles (1999)
Exports - partners
EU 56.4% (France 11.1%, UK 8.6%, Italy 7.4%,
Netherlands 6.8%, Benelux 5.7%), US 9.4%, Japan 1.9% (1998)
Imports
$587 billion (f.o.b., 1999 est.)
Imports - commodities
machinery, vehicles, chemicals, foodstuffs,
textiles, metals (1999)
Imports - partners
EU 53.7% (France 11.1%, Netherlands 7.7%, Italy
7.8%, UK 6.8%, Benelux 5.6%), US 8.3%, Japan 5.0% (1998)
Debt - external
$NA
Economic aid - donor
ODA, $5.6 billion (1998)
Currency
1 deutsche mark (DM) = 100 pfennige
Exchange rates
euros per US$1 -0.9867 (January 2000), 0.9386 (1999);
deutsche marks (DM) per US$1 - 1.69 (January 1999), 1.7597 (1998),
1.7341 (1997), 1.5048 (1996), 1.4331 (1995)
note: on 1 January 1999, the EU introduced a common currency that is
now being used by financial institutions in some member countries at a
fixed rate of 1.95583 deutsche marks per euro; the euro will replace
the local currency in consenting countries for all transactions in
2002
Fiscal year
calendar year
Locations:
Home
Afghanistan
Albania
Algeria
American Samoa
Andorra
Angola
Anguilla
Antarctica
Antigua & Barbuda
Arctic Ocean
Argentina
Armenia
Aruba
Ashmore & Cartier Islands
Atlantic Ocean
Australia
Austria
Azerbaijan
Bahrain
Baker Island
Bangladesh
Barbados
Bassas Da India
Belarus
Belgium
Belize
Benin
Bermuda
Bhutan
Bolivia
Bosnia & Herzegovina
Botswana
Bouvet Island
Brazil
British Indian Ocean Territory
British Virgin Islands
Brunei
Bulgaria
Burkina Faso
Burma
Burundi
Cambodia
Cameroon
Canada
Cape Verde
Cayman Islands
Central African Republic
Chad
Chile
China
Christmas Island
Clipperton Island
Colombia
Comoros
Cook Islands
Coral Sea Islands
Costa Rica
Croatia
Cuba
Cyprus
Czech Republic
Denmark
Djibouti
Dominica
Dominican Republic
Ecuador
Egypt
El Salvador
Equatorial Guinea
Eritrea
Estonia
Ethiopia
Europa Island
Faroe Islands
Fiji
Finland
France
French Guiana
French Polynesia
Gabon
Gaza Strip
Georgia
Germany
Ghana
Gibraltar
Glorioso Islands
Greece
Greenland
Grenada
Guadeloupe
Guam
Guatemala
Guernsey
Guinea
Guyana
Haiti
Honduras
Hong Kong
Howland Island
Hungary
Iceland
India
Indian Ocean
Indonesia
Iran
Iraq
Ireland
Israel
Italy
Jamaica
Jan Mayen
Japan
Jarvis Island
Jersey
Johnston Atoll
Jordan
Juan De Nova Island
Kazakhstan
Kenya
Kingman Reef
Kiribati
Korea
Kuwait
Kyrgyzstan
Laos
Latvia
Lebanon
Lesotho
Liberia
Libya
Liechtenstein
Lithuania
Luxembourg
Macau
Madagascar
Malawi
Malaysia
Maldives
Mali
Malta
Marshall Islands
Martinique
Mauritania
Mauritius
Mayotte
Mexico
Midway Islands
Moldova
Monaco
Mongolia
Montserrat
Morocco
Mozambique
Namibia
Nauru
Navassa Island
Netherlands
Netherlands Antilles
New Caledonia
New Zealand
Nicaragua
Niger
Nigeria
Niue
Norfolk Island
Northern Mariana Islands
Norway
Oman
Pacific Ocean
Pakistan
Palau
Palmyra Atoll
Panama
Papua New Guinea
Paracel Islands
Paraguay
Peru
Philippines
Pitcairn Islands
Poland
Portugal
Puerto Rico
Qatar
Reunion
Romania
Rwanda
Saint Helena
Saint Kitts & Nevis
Saint Lucia
Saint Pierre & Miquelon
Saint Vincent & The Grenadines
San Marino
Sao Tome & Principe
Saudi Arabia
Senegal
Serbia & Montenegro
Seychelles
Sierra Leone
Singapore
Slovakia
Solomon Islands
Somalia
South Africa
Southern Ocean
Spain
Spratly Islands
Sri Lanka
Sudan
Suriname
Svalbard
Swaziland
Sweden
Switzerland
Syria
Taiwan
Tajikistan
Tanzania
Thailand
Togo
Tokelau
Tonga
Trinidad & Tobago
Tromelin Island
Tunisia
Turkey
Turkmenistan
Turks & Caicos Islands
Tuvalu
Uganda
Ukraine
United Arab Emirates
United Kingdom
United States
Uruguay
Uzbekistan
Vanuatu
Venezuela
Vietnam
Virgin Islands
Wake Island
Wallis & Futuna
West Bank
Western Sahara
World
Yemen
Zambia
Zimbabwe