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Germany Overview of Economy











A brief guide to Germany economy, Germany economy overview, Inflation rates GDP and other economic indicators in Germany.


October 2012

The German economy is the third largest in the world after the United States and Japan. The German GDP is approximately 1/3 of the entire European GDP.
The main industrial export is from West Germany that has a highly developed industrial sector particularly in the aircraft and automobile manufacturing industries, the chemicals industry, electronics, computerization and advanced technology.
The East German economy is inferior to that of the West despite the fact that before unification, East Germany had the highest per capita growth in the Eastern Bloc.
Germany's main commercial partners are the countries of the EU, and to no inconsiderable extent, the United States of America.
In the year 2011 more than 50% of the exports went to the EU countries, headed by France (9.5%) and U.S.A. (7%).
In the same year, exports to the Netherlands amounted to 6.3% of total exports.
The main imports for that year were from the European Union, headed by China, 8.9% , the Netherlands, 8.2% and France 7.3%.
From the aspect of natural resources, coal deposits, timber, iron, copper and reserves of natural gas are to be found in Germany as well as salt.
An analysis of the main economic indicators shows that the annual GDP growth was 3.1% in 2011 compared to 3.6% in 2010.
The rate of inflation in 2011 was 2.5% compared to 1.2% in 2010. The GDP main sources are services -71% ,industry -28% and agriculture -1%.
The main problem in the German economy is the unemployment rate, 6% in 2011, a slight decrease compared to 7.1% in 2010.
According to the CIA factbook the per capita GDP (ppp) for 2011 was $ 38,400 compared to the world average of $ 12,000.
In 2011 the German public debt reached 81.8% of its GDP. The budget deficit reached 1% of the GDP .







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