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Capital City: Berlin
%T:%M %A in Berlin

In 2005, the german economic activity was not as strong as in 2004. The GDP growth was 0.8% in 2005 whereas it was 1.6% in 2004. The FMI forecasts a 1.2% growth in 2006. As in 2004, the performance of the german economy in 2005 has been mainly due to its exportations. However, the growth was lower than in 2004 because the domestic consumption remained weak and the investments meagre. Unemployment remains high, and for the first time has exceeded five million people. Public funds are still showing a deficit and Germany is not able to comply with the European Union stability pact. The governement deficit is about to be more than 3% in 2005, for the fifth consecutive time. In 2005, the german deficit was 3.9% of the GDP. The economic performances of ex-GDR remain much lower than western Länders. However, the recent entry of central Europe countries in the European Union is likely to bring positive consequences on the German economy.

German agricultural sector, which provides 1.14% of country's GDP, widely benefits from State subsidies. German main agricultural productions are milk, pig & cattle breeding, sugar beat and cereals. Certain regions of Germany are specialized in the production of wine and fruits. Due to pressure from the Ministry of Agriculture, production through organic agriculture is given more importance. The country is undergoing a process of de-industrialization. The contribution of industrial sector to the German GDP has gone down from 51% in 1970 to 32% today. Nevertheless, the German economy keeps industrials specialisations : mechanical engineering, electrical and electronics, car and chemical industries are performing good figures. The country is lagging behind in the service and new technology sectors, when compared to some of its European neighbours. The automobile industry is one of the major industrial sectors in Germany, the country being the 3rd largest car exporter in the world. The german economic model relies on the small scale sector having more than 3 million SMEs which employ 70% of the wage-earners.

Germany is the largest European economic power and constitutes 30% of Euro zone GDP. Its top three import partners are France, the U.S.A., and the Netherlands. Germany mainly imports machines, industrial equipment goods and hydrocarbons.
Its three top export partners are France, the U.S.A., and the United Kingdom. It mainly exports machines, vehicles and electrical and electronic equipment.

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