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Germany Economy 2012

SOURCE: 2012 CIA WORLD FACTBOOK AND OTHER SOURCES











Germany Economy 2012
SOURCE: 2012 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on February 27,

Economy - overview:
The German economy - the fifth largest economy in the world in PPP terms and Europe's largest - is a leading exporter of machinery, vehicles, chemicals, and household equipment and benefits from a highly skilled labor force. Like its western European neighbors, Germany faces significant demographic challenges to sustained long-term growth. Low fertility rates and declining net immigration are increasing pressure on the country's social welfare system and necessitate structural reforms. Reforms launched by the government of Chancellor Gerhard SCHROEDER (1998-2005), deemed necessary to address chronically high unemployment and low average growth, contributed to strong growth in 2006 and 2007 and falling unemployment. These advances, as well as a government subsidized, reduced working hour scheme, help explain the relatively modest increase in unemployment during the 2008-09 recession - the deepest since World War II - and its decrease to 6.0% in 2011. GDP contracted 5.1% in 2009 but grew by 3.6% in 2010, and 2.7% in 2011. The recovery was attributable primarily to rebounding manufacturing orders and exports - increasingly outside the Euro Zone. Germany's central bank projects that GDP will grow 0.6% in 2012, a reflection of the worsening euro-zone financial crisis and the financial burden it places on Germany as well as falling demand for German exports. Domestic demand is therefore becoming a more significant driver of Germany's economic expansion. Stimulus and stabilization efforts initiated in 2008 and 2009 and tax cuts introduced in Chancellor Angela MERKEL's second term increased Germany's budget deficit to 3.3% in 2010, but slower spending and higher tax revenues reduce the deficit to 1.7% in 2011, below the EU's 3% limit. A constitutional amendment approved in 2009 limits the federal government to structural deficits of no more than 0.35% of GDP per annum as of 2016.

GDP (purchasing power parity):
$3.085 trillion (2011 est.)
country comparison to the world: 6

$3.003 trillion (2010 est.)
$2.9 trillion (2009 est.)
note: data are in 2011 US dollars
[see also: GDP country ranks ]

GDP (official exchange rate):
$3.629 trillion (2011 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
2.7% (2011 est.)
country comparison to the world: 130

3.6% (2010 est.)
-5.1% (2009 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$37,900 (2011 est.)
country comparison to the world: 28

$36,800 (2010 est.)
$35,500 (2009 est.)
note: data are in 2011 US dollars
[see also: GDP - per capita country ranks ]

GDP - composition by sector:
agriculture: 0.8%
[see also: GDP - composition by sector - agriculture country ranks ]
industry: 28.1%
[see also: GDP - composition by sector - industry country ranks ]
services: 71% (2011 est.)
[see also: GDP - composition by sector - services country ranks ]

Labor force:
43.59 million (2011 est.)
country comparison to the world: 14
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 2.4%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 29.7%
[see also: Labor force - by occupation - industry country ranks ]
services: 67.8% (2005)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
6% (2011 est.)
country comparison to the world: 60

7.1% (2010 est.)
note: this is the International Labor Organization's estimated rate for international comparisons; Germany's Federal Employment Agency estimated a seasonally adjusted rate of 10.8%
[see also: Unemployment rate country ranks ]

Population below poverty line:
15.5% (2010 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 3.6%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 24% (2000)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Distribution of family income - Gini index:
27 (2006)
country comparison to the world: 129

30 (1994)
[see also: Distribution of family income - Gini index country ranks ]

Investment (gross fixed):
18.8% of GDP (2011 est.)
country comparison to the world: 138
[see also: Investment (gross fixed) country ranks ]

Budget:
revenues: $1.582 trillion
[see also: Budget revenues country ranks ]
expenditures: $1.643 trillion (2011 est.)
[see also: Budget expenditures country ranks ]

Taxes and other revenues:
43.6% of GDP (2011 est.)
country comparison to the world: 29
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-1.7% of GDP (2011 est.)
country comparison to the world: 69
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
81.5% of GDP (2011 est.)
country comparison to the world: 20

83.4% of GDP (2010 est.)
note: general government gross debt is defined in the Maastricht Treaty as consolidated general government gross debt at nominal value, outstanding at the end of the year in the following categories of government liabilities (as defined in ESA95): currency and deposits (AF.2), securities other than shares excluding financial derivatives (AF.3, excluding AF.34), and loans (AF.4); the general government sector comprises the sub-sectors of central government, state government, local government and social security funds; the series are presented as a percentage of GDP and in millions of euro; GDP used as a denominator is the gross domestic product at current market prices; data expressed in national currency are converted into euro using end-year exchange rates provided by the European Central Bank
[see also: Public debt country ranks ]

Inflation rate (consumer prices):
2.2% (2011 est.)
country comparison to the world: 24

1.1% (2010 est.)
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
1.75% (31 December 2010)
country comparison to the world: 115

1.75% (31 December 2009)
note: this is the European Central Bank's rate on the marginal lending facility, which offers overnight credit to banks in the euro area
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
8.4% (31 December 2011 est.)
country comparison to the world: 163

4.96% (31 December 2009 est.)
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$1.831 trillion (31 December 2011 est.)
country comparison to the world: 5

$1.747 trillion (31 December 2010 est.)
note: see entry for the European Union for money supply in the euro area; the European Central Bank (ECB) controls monetary policy for the 17 members of the Economic and Monetary Union (EMU); individual members of the EMU do not control the quantity of money circulating within their own borders
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$4.437 trillion (31 December 2011 est.)
country comparison to the world: 5

$4.173 trillion (31 December 2010 est.)
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$4.689 trillion (31 December 2011 est.)
country comparison to the world: 6

$5.2 trillion (31 December 2009 est.)
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$1.43 trillion (31 December 2010)
country comparison to the world: 9

$1.298 trillion (31 December 2009)
$1.108 trillion (31 December 2008)
[see also: Market value of publicly traded shares country ranks ]

Agriculture - products:
potatoes, wheat, barley, sugar beets, fruit, cabbages; cattle, pigs, poultry

Industries:
among the world's largest and most technologically advanced producers of iron, steel, coal, cement, chemicals, machinery, vehicles, machine tools, electronics, food and beverages, shipbuilding, textiles

Industrial production growth rate:
6.7% (2011 est.)
country comparison to the world: 42
[see also: Industrial production growth rate country ranks ]

Electricity - production:
556.4 billion kWh (2009 est.)
country comparison to the world: 8
[see also: Electricity - production country ranks ]

Electricity - consumption:
544.5 billion kWh (2008 est.)
country comparison to the world: 8
[see also: Electricity - consumption country ranks ]

Electricity - exports:
54.13 billion kWh (2009 est.)
[see also: Electricity - exports country ranks ]

Electricity - imports:
12.28 billion kWh (2009 est.)
[see also: Electricity - imports country ranks ]

Oil - production:
147,200 bbl/day (2010 est.)
country comparison to the world: 46
[see also: Oil - production country ranks ]

Oil - consumption:
2.495 million bbl/day (2010 est.)
country comparison to the world: 8
[see also: Oil - consumption country ranks ]

Oil - exports:
470,200 bbl/day (2009 est.)
country comparison to the world: 31
[see also: Oil - exports country ranks ]

Oil - imports:
2.671 million bbl/day (2009 est.)
country comparison to the world: 7
[see also: Oil - imports country ranks ]

Natural gas - production:
12.65 billion cu m (2010 est.)
country comparison to the world: 35
[see also: Natural gas - production country ranks ]

Natural gas - consumption:
99.5 billion cu m (2010 est.)
country comparison to the world: 7
[see also: Natural gas - consumption country ranks ]

Natural gas - exports:
16.19 billion cu m (2010 est.)
country comparison to the world: 15
[see also: Natural gas - exports country ranks ]

Natural gas - imports:
99.63 billion cu m (2010 est.)
country comparison to the world: 3
[see also: Natural gas - imports country ranks ]

Natural gas - proved reserves:
175.6 billion cu m (1 January 2011 est.)
country comparison to the world: 48
[see also: Natural gas - proved reserves country ranks ]

Current account balance:
$149.3 billion (2011 est.)
country comparison to the world: 3

$188.4 billion (2010 est.)
[see also: Current account balance country ranks ]

Exports:
$1.543 trillion (2011 est.)
country comparison to the world: 3

$1.303 trillion (2010 est.)
[see also: Exports country ranks ]

Exports - commodities:
machinery, vehicles, chemicals, metals and manufactures, foodstuffs, textiles

Exports - partners:
France 10.1%, US 6.7%, UK 6.6%, Netherlands 6.6%, Italy 6.3%, Austria 5.7%, Belgium 5.2%, China 4.7%, Switzerland 4.5% (2009)

Imports:
$1.339 trillion (2011 est.)
country comparison to the world: 4

$1.099 trillion (2010 est.)
[see also: Imports country ranks ]

Imports - commodities:
machinery, vehicles, chemicals, foodstuffs, textiles, metals

Imports - partners:
Netherlands 13%, France 8.2%, Belgium 7.2%, China 6.8%, Italy 5.6%, UK 4.7%, Austria 4.4%, US 4.2%, Switzerland 4.1% (2009)

Reserves of foreign exchange and gold:
$216.5 billion (31 December 2010 est.)
country comparison to the world: 12

$216.5 billion (31 December 2010 est.)
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$5.624 trillion (30 June 2011)
country comparison to the world: 5

$4.713 trillion (30 June 2010)
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$998.1 billion (31 December 2011 est.)
country comparison to the world: 5

$956.6 billion (31 December 2010 est.)
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$1.486 trillion (31 December 2011 est.)
country comparison to the world: 4

$1.427 trillion (31 December 2010 est.)
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
euros (EUR) per US dollar -

0.7107 (2011 est.)
0.755 (2010 est.)
0.7198 (2009 est.)
0.6827 (2008 est.)
0.7345 (2007 est.)


NOTE: 1) The information regarding Germany on this page is re-published from the 2012 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Germany Economy 2012 information contained here. All suggestions for corrections of any errors about Germany Economy 2012 should be addressed to the CIA.
2) The rank that you see is the CIA reported rank, which may habe the following issues:
  a) They assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
  b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order






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