| COUNTRIES | GEOGRAPHIC NAMES | GEOLOGY | USA STATS | CHINA STATS | COUNTRY CODES | AIRPORTS | RELIGION | JOBS |

Germany Economy 2010
https://workmall.com/wfb2010/germany/germany_economy.html
SOURCE: 2010 CIA WORLD FACTBOOK AND OTHER SOURCES

. Feedback


Germany Economy 2010
SOURCE: 2010 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on January 19, 2010

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 will increase 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 were undone by the global financial crisis that began in 2008 and subsequent economic downturn, which drove Germany's export-driven economy into its deepest recession since World War II. GDP grew just over 1% in 2008 and contracted roughly 5% in 2009. Germany crept out of recession in the second and third quarters of 2009, thanks largely to rebounding manufacturing orders and consumer demand, and will recover to about 1.5% growth for the year 2010. However, the strong euro, tighter credit markets, and a long anticipated bump in unemployment - which through 2009 was largely prevented with government subsidized, reduced working hour schemes - continue to cloud Germany's medium-term recovery prospects. Stimulus and stabilization efforts initiated in 2008 and 2009 and tax cuts introduced in Chancellor Angela MERKEL's second term will add to Germany's record-high public debt, which is expected to exceed 5% of GDP in 2010, and undercut Berlin's ability to comply by 2016 with new legislation that limits structural federal deficits to no more than 0.35% of GDP per annum.

GDP (purchasing power parity):
$2.812 trillion (2009 est.)

$2.96 trillion (2008 est.)
$2.922 trillion (2007 est.)
note: data are in 2009 US dollars

GDP (official exchange rate):
$3.235 trillion (2009 est.)

GDP - real growth rate:
-5% (2009 est.)

1.3% (2008 est.)
2.5% (2007 est.)

GDP - per capita (PPP):
$34,200 (2009 est.)

$35,900 (2008 est.)
$35,500 (2007 est.)
note: data are in 2009 US dollars

GDP - composition by sector:
agriculture: 0.9%
industry: 27.1%
services: 72% (2009 est.)

Labor force:
43.51 million (2009 est.)

Labor force - by occupation:
agriculture: 2.4%
industry: 29.7%
services: 67.8% (2005)

Unemployment rate:
8.2% (2009 est.)

7.8% (2008 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%

Population below poverty line:
11% (2001 est.)

Household income or consumption by percentage share:
lowest 10%: 3.2%
highest 10%: 22.1% (2000)

Distribution of family income - Gini index:
27 (2006)

30 (1994)

Investment (gross fixed):
18.9% of GDP (2009 est.)

Budget:
revenues: $1.398 trillion
expenditures: $1.54 trillion (2009 est.)

Public debt:
77.2% of GDP (2009 est.)

66% of GDP (2008 est.)

Inflation rate (consumer prices):
0% (2009 est.)

2.7% (2008 est.)

Central bank discount rate:
3% (31 December 2008)

5% (31 December 2007)
note: this is the European Central Bank's rate on the marginal lending facility, which offers overnight credit to banks in the euro area

Commercial bank prime lending rate:
5.97% (31 December 2008)

5.96% (31 December 2007)

Stock of money:
$NA

$NA (31 December 2007)
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 and quasi money circulating within their own borders

Stock of quasi money:
$NA

$NA (31 December 2007)

Stock of domestic credit:
$5.019 trillion (31 December 2008)

$4.457 trillion (31 December 2007)

Market value of publicly traded shares:
$NA (31 December 2008)

$2.106 trillion (31 December 2007)
$1.638 trillion (31 December 2006)

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:
-11% (2009 est.)

Electricity - production:
593.4 billion kWh (2007 est.)

Electricity - consumption:
547.3 billion kWh (2007 est.)

Electricity - exports:
61.7 billion kWh (2008 est.)

Electricity - imports:
41.67 billion kWh (2008 est.)

Oil - production:
150,800 bbl/day (2008 est.)

Oil - consumption:
2.569 million bbl/day (2008 est.)

Oil - exports:
582,900 bbl/day (2008 est.)

Oil - imports:
2.777 million bbl/day (2008 est.)

Oil - proved reserves:
276 million bbl (1 January 2009 est.)

Natural gas - production:
16.36 billion cu m (2008 est.)

Natural gas - consumption:
95.79 billion cu m (2008 est.)

Natural gas - exports:
12.68 billion cu m (2008 est.)

Natural gas - imports:
91.99 billion cu m (2008 est.)

Natural gas - proved reserves:
175.6 billion cu m (1 January 2009 est.)

Current account balance:
$109.7 billion (2009 est.)

$243.6 billion (2008 est.)

Exports:
$1.187 trillion (2009 est.)

$1.498 trillion (2008 est.)

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

Exports - partners:
France 9.7%, US 7.1%, UK 6.7%, Netherlands 6.6%, Italy 6.4%, Austria 5.4%, Belgium 5.2%, Spain 4.4%, Poland 4% (2008)

Imports:
$1.022 trillion (2009 est.)

$1.232 trillion (2008 est.)

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

Imports - partners:
Netherlands 12.5%, France 8.3%, Belgium 7.5%, China 6.2%, Italy 5.7%, UK 5.4%, Austria 4.3%, Russia 4.2%, US 4.2% (2008)

Reserves of foreign exchange and gold:
$NA (31 December 2009 est.)

$138 billion (31 December 2008 est.)

Debt - external:
$5.208 trillion (30 June 2009 est.)

$5.158 trillion (31 December 2008 est.)

Stock of direct foreign investment - at home:
$1.021 trillion (31 December 2009 est.)

$1.027 trillion (31 December 2008 est.)

Stock of direct foreign investment - abroad:
$1.403 trillion (31 December 2009 est.)

$1.407 trillion (31 December 2008 est.)

Exchange rates:
euros (EUR) per US dollar - 0.7338 (2009), 0.6827 (2008), 0.7345 (2007), 0.7964 (2006), 0.8041 (2005)


NOTE: The information regarding Germany on this page is re-published from the 2010 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Germany Economy 2010 information contained here. All suggestions for corrections of any errors about Germany Economy 2010 should be addressed to the CIA.






This page was last modified 09-Feb-10
Copyright © 1995-2020 ITA (all rights reserved).