Economy

Daimler, Siemens, Porsche, Lufthansa, SAP - In the international arena German companies have an excellent reputation. They represent "Made in Germany", known as a seal of quality the world over. They represent innovation, quality and cutting-edge technology.

Yet the world's fourth largest economy does not consist solely of global players, but also of numerous world market leaders who are actually small and medium-sized enterprises, the powerhouse of the German economy. They all benefit from the sound economic conditions in the "land of ideas", not to mention the excellent qualifications of the workforce. Foreign investors also value this - and see it as a major point in Germany's favor in the age of the global economy.

Germany is one of the most highly developed industrial nations in the world and, after USA, China and Japan has the world's fourth largest national economy. With a population of 82.2 million Germany is also the largest and most important market in the European Union (EU). In 2015, Germany’s gross domestic product (GDP) totaled USD 3.942 trillion. This figure can be attributed primarily to foreign trade. With an export volume of USD 1.573 trillion, Germany is the third largest exporter of goods worldwide. Consequently Germany is more of a global player than almost any other country and more strongly linked to the global economy than many other countries. More than every fourth Euro is earned from exported goods and services – and more than every fifth job depends on foreign trade.

The most important economic centers in the country are the Ruhr region (formerly characterized by heavy industry, it is developing into a hub for high-tech and service providers), the Munich and Stuttgart conurbations (high-tech, automobiles), the Rhine/Neckar region (chemicals) Frankfurt/Main (finance), Cologne, Hamburg (port, Airbus construction, media) Berlin and Leipzig.