Economy

Germany is one of the most highly developed industrial nations in the world and, after the USA and Japan has the world’s third largest national economy. With a population of 82.3 million Germany is also the largest and most important market in the European Union (EU ). In 2010, Germany’s gross domestic product (GDP) totaled EUR 2.5 billion, which translates into per-capits GDP of US D 44,729. This figure can be attributed primarily to foreign trade. With an Export volume of EUR 969 billion or one third of GDP in 2007, Germany is one of the biggest exporter of goods worldwide, and as such was considered to be the “export world champion” for many years when in 2009 China and Germany had a neck and neck race when finally China got this title for the first time. 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.