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GERMANY

Global Trade Volume of Germany

PraeGlobal is a consulting firm active in Germany. It is the most developed industrial country after the USA and Japan. Germany, one of the most important countries of the European Union, has a population of 82.6 million. The German economy consists of two important sectors, manufacturing and services. The leading sectors in the manufacturing sector, industrial machinery, chemical industry and automotive industry. In recent years, important developments have been experienced in the telecommunications sector. The service sector accounts for 68.6% of the economy in 2017.

Economic Data of Germany

2012 2013 2014 2015 2016 2017
Population (million) 80.5 80.8 81.2 81.7 82.7 82.65
Per capita

Gross Domestic Product ($)

34,269 35,047 36,064 37,094 37,817 44,184
Gross Domestic Product (billion $) 2,759 2,831 2,928 3,030 3,129 3.458,48
Export (million $) 1,14 1,14 1,15 1,13 1,13 1.28
Importation (million $) 1,16 1,18 1,12 1,05 1,06 1.03
Jobless rate 6.8 6.9 6.7 6.4 6.1 5.7

Economic Performance

The country uses the euro as its currency. Monetary Policy depends on the European Central Bank. Germany’s growth in exports in 2007, which is Europe’s largest exporter, was 9%. As in industrialised countries, the importance of the service sectors has increased in the German economy. Manufacturing industry and related service sectors have an important place in the German economy.

Traiding Qualities

  1. Agriculture

    Agriculture, Forestry and Fisheries are important in the country. There are agricultural differences between the East and west of Germany. While there are farms run by families in the West, agricultural enterprises are dominant in the east as a continuation of the former socialist cooperatives. As a result, the size of the farms in East Germany is 188.2 hectares whereas in West Germany it is only 31.2 hectares. Agricultural policies are shaped within the framework of the EU’s Common Agricultural Policy. In addition, the share of organic farming has increased rapidly with the demand of consumers and the support of the state.

  2. Industry

    The share of the industrial sector, one of Germany’s most important sectors, in GDP is shrinking against the services sector. In 2017, the share of the industrial sector in GDP is 30.6%. Germany, the world’s third largest economy, produces all industrial goods. Mainly, chemicals, vehicles, capital goods, white goods sectors are at the forefront. Germany’s manufacturing industry is home to many international companies. In addition, Medium-Sized Enterprises constitute the backbone of the German economy. In smaller companies with fewer than 500 employees, they operate as a family company and are generally in Western states. The main manufacturing industry sectors in the Eastern provinces are chemicals, electrical and electronics engineering, glass, ceramics, vehicles. The automotive sector is the driving force of the German economy.

  3. Mining

    The most important natural resource is hard coal. Germany, the world’s largest coal producer, has 2.5 billion tons of hard coal and 40.4 billion tons of lignite reserves. Lignite coal is extracted especially in the Eastern and Western states of the country. Transportation of lignite to other parts of the country is not economical, it is used in power plants. Coal has an important place in the country’s electricity production. Among the important minerals extracted in Germany are cobalt, bismuth, uranium, antimony.

  4. Construction

    The construction sector has an important place in the German economy. The German construction market grew by 5% in 2017. This growth trend is expected to last until 2020. 2.5 million qualified workers are employed in the sector. Housing construction is the most important factor affecting growth in the sector.

If you want to improve business in Germany, which is very economically powerful, As PraeGlobal, we are with you. We are ready to share our knowledge with you as we have mastered all laws and economic opportunities in the country. We will provide all kinds of support for your company and we will be with you with all consultancy services with our expert staff in the process of establishment of your company.

With PraeGlobal’s active staff, you will feel like you are at home even you are in abroad.

Contact Informations

Excellent Business Center Im Zollhafen 24 Cologne Nordrhein- Westfalen 50678 Germany

+90 212 212 22 35 | +90 312 284 13 00 | +372 589 78198

www.praeglobal.com

info@praeglobal.com