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Germany Economy 2011
https://theodora.com/wfb2011/germany/germany_economy.html
SOURCE: 2011 CIA WORLD FACTBOOK AND OTHER SOURCES


















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Page last updated on January 12, 2011

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. The modernization and integration of the eastern German economy - where unemployment can exceed 20% in some municipalities - continues to be a costly long-term process, with annual transfers from west to east amounting in 2008 alone to roughly $12 billion. 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, which in 2008 reached a new post-reunification low of 7.8%. 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 healthy decrease in 2010. GDP contracted nearly 5% in 2009 but grew by 3.3% in 2010. Germany crept out of recession thanks largely to rebounding manufacturing orders and exports - primarily outside the Euro Zone - and relatively steady consumer demand. 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 2009 and to 3.6% in 2010. The EU has given Germany until 2013 to get its consolidated budget deficit below 3% of GDP. A new constitutional amendment likewise limits the federal government to structural deficits of no more than 0.35% of GDP per annum as of 2016.

GDP (purchasing power parity):
$2.951 trillion (2010 est.)
country comparison to the world: 6

$2.857 trillion (2009 est.)
$2.998 trillion (2008 est.)
note: data are in 2010 US dollars
[see also: GDP (purchasing power parity) country ranks ]

GDP (official exchange rate):
$3.306 trillion (2009 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
3.3% (2010 est.)
country comparison to the world: 109

-4.7% (2009 est.)
1% (2008 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$35,900 (2010 est.)
country comparison to the world: 32

$34,700 (2009 est.)
$36,400 (2008 est.)
note: data are in 2010 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: 27.9%
[see also: GDP - composition by sector - industry country ranks ]
services: 71.3% (2009 est.)
[see also: GDP - composition by sector - services country ranks ]

Labor force:
43.35 million (2009 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:
7.1% (2010 est.)
country comparison to the world: 75

7.5% (2009 est.)
note: this is the International Labor Organization's estimated rate for international comparisons; Germany's Federal Employment Office estimated a seasonally adjusted rate of 10.8%
[see also: Unemployment rate country ranks ]

Population below poverty line:
11% (2001 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: 125

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

Investment (gross fixed):
18% of GDP (2009 est.)
country comparison to the world: 109
[see also: Investment (gross fixed) country ranks ]

Budget:
revenues: $1.396 trillion
[see also: Budget - revenues country ranks ]
expenditures: $1.516 trillion (2009 est.)
[see also: Budget - expenditures country ranks ]

Public debt:
74.8% of GDP (2010 est.)
country comparison to the world: 22

73.2% of GDP (2009 est.)
[see also: Public debt country ranks ]

Inflation rate (consumer prices):
1% (2010 est.)
country comparison to the world: 20

0.3% (2009 est.)
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
1.75% (31 December 2009)
country comparison to the world: 120

3% (31 December 2008)
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:
4.96% (31 December 2009 est.)
country comparison to the world: 139

5.97% (31 December 2008 est.)
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$1.627 trillion (31 December 2010 est)

$1.681 trillion (31 December 2009 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 16 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:
$4.288 trillion (31 December 2010 est.)

$4.202 trillion (31 December 2009 est.)
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$5.2 trillion (31 December 2009 est.)
country comparison to the world: 5

$5.019 trillion (31 December 2008 est.)
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$1.298 trillion (31 December 2009)
country comparison to the world: 9

$1.108 trillion (31 December 2008)
$2.106 trillion (31 December 2007)
[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:
9% (2009 est.)
country comparison to the world: 19
[see also: Industrial production growth rate country ranks ]

Electricity - production:
593.4 billion kWh (2007 est.)
country comparison to the world: 8
[see also: Electricity - production country ranks ]

Electricity - consumption:
547.3 billion kWh (2007 est.)
country comparison to the world: 7
[see also: Electricity - consumption country ranks ]

Electricity - exports:
61.7 billion kWh (2008 est.)
[see also: Electricity - exports country ranks ]

Electricity - imports:
41.67 billion kWh (2008 est.)
[see also: Electricity - imports country ranks ]

Oil - production:
156,800 bbl/day (2009 est.)
country comparison to the world: 44
[see also: Oil - production country ranks ]

Oil - consumption:
2.437 million bbl/day (2009 est.)
country comparison to the world: 8
[see also: Oil - consumption country ranks ]

Oil - exports:
536,600 bbl/day (2008 est.)
country comparison to the world: 28
[see also: Oil - exports country ranks ]

Oil - imports:
2.862 million bbl/day (2008 est.)
country comparison to the world: 7
[see also: Oil - imports country ranks ]

Oil - proved reserves:
276 million bbl (1 January 2010 est.)
country comparison to the world: 54
[see also: Oil - proved reserves country ranks ]

Natural gas - production:
15.29 billion cu m (2009 est.)
country comparison to the world: 34
[see also: Natural gas - production country ranks ]

Natural gas - consumption:
96.26 billion cu m (2009 est.)
country comparison to the world: 5
[see also: Natural gas - consumption country ranks ]

Natural gas - exports:
12.64 billion cu m (2009 est.)
country comparison to the world: 16
[see also: Natural gas - exports country ranks ]

Natural gas - imports:
94.57 billion cu m (2009 est.)
country comparison to the world: 2
[see also: Natural gas - imports country ranks ]

Natural gas - proved reserves:
175.6 billion cu m (1 January 2010 est.)
country comparison to the world: 47
[see also: Natural gas - proved reserves country ranks ]

Current account balance:
$162.3 billion (2010 est.)
country comparison to the world: 3

$168.1 billion (2009 est.)
[see also: Current account balance country ranks ]

Exports:
$1.337 trillion (2010 est.)
country comparison to the world: 3

$1.145 trillion (2009 est.)
[see also: Exports country ranks ]

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

Exports - partners:
France 10.2%, US 6.7%, Netherlands 6.7%, UK 6.6%, Italy 6.3%, Austria 6%, China 4.5%, Switzerland 4.4% (2009)

Imports:
$1.12 trillion (2010 est.)
country comparison to the world: 4

$956.7 billion (2009 est.)
[see also: Imports country ranks ]

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

Imports - partners:
Netherlands 8.5%, China 8.2%, France 8.2%, US 5.9%, Italy 5.9%, UK 4.9%, Belgium 4.3%, Austria 4.3%, Switzerland 4.2% (2009)

Reserves of foreign exchange and gold:
$NA (31 December 2010 est.)

$180.8 billion (31 December 2009 est.)
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$4.713 trillion (30 June 2010)
country comparison to the world: 4

$5.158 trillion (31 December 2008)
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$1.057 trillion (31 December 2010 est.)
country comparison to the world: 4

$1.054 trillion (31 December 2009 est.)
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$1.484 trillion (31 December 2010 est.)
country comparison to the world: 4

$1.46 trillion (31 December 2009 est.)
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
euros (EUR) per US dollar - 0.7715 (2010), 0.7179 (2009), 0.6827 (2008), 0.7345 (2007), 0.7964 (2006)


NOTE: The information regarding Germany on this page is re-published from the 2011 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Germany Economy 2011 information contained here. All suggestions for corrections of any errors about Germany Economy 2011 should be addressed to the CIA.



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