Home > News > Daily News > German economy


German economy

  • Author:naky
  • Source:www.diecastingpartsupplier.com
  • Release on:2016-03-30

Germany is Europe's largest economy, the world's fourth largest gross domestic product (international exchange), and the fifth largest country GDP (purchasing power parity).

After the Industrial Revolution, Germany has been a pioneer in the increasingly globalized economy, innovation and beneficiaries. Germany's economic policy is based on the concept of the social market economy. Germany is a founding member of the EU and the euro area. With its exports in 2012, $ 1.516
trillion, and Germany is the world's third largest exporter. Exports accounted for more than one- third of national output. In 2013, Germany made a $ 270 billion global trade surplus, the world's
largest exporter of capital.

Germany is the world's largest lignite producer. Germany is also rich in timber, iron ore, potash,
salt, uranium, nickel, copper and natural gas. Germany's energy comes mainly from fossil fuels,
followed by nuclear power, similar to the biomass renewable energy (wood and bio-fuels), wind, water
and solar energy.
The service sector contributed about 70% GDP total, industry 29.1%, agriculture 0.9%. Most of the
German industry in the industry, especially in automobiles, machinery, metals and chemicals.

Germany is the world's fourth largest economy. The world's most influential car brand Mercedes-Benz, BMW, Audi, Volkswagen, Porsche in Germany, the famous car brands Opel also born in Germany (now part of General Motors Group). Car production after China, the United States and Japan, is one of the
world's largest car producer.