Germany

Abstract

"The German economy is currently one of the largest in the world, with it being the world’s largest economy in terms of nominal GDP, and the fifth largest in terms of purchasing power parity. Previously the world’s largest exporter, this position has been overtaken by China recently. Germany remains the second largest importer of goods in the world. The formation of a common European exchange currency, the Euro, was established in 1999 through the collaboration of Germany and 10 other EU countries. The German economy started to contract in 2008 as a result of a strong Euro, tighter credit markets, increasing oil prices as well as slow growth, which impacted Germany’s export oriented economy. GDP growth was 1.3% in 2008, and is projected to reach negative growth in 2009. Organizations striving to be employers-of-choice in different countries around the world need access to current information about the economic, social, political, and demographic characteristics of the countries where their employees live and work. The Country Profile Series focuses on statistics that can guide decisionmaking at the workplace: workforce highlights, economic highlights, and population Highlights." (Text excerpt, IAB-Doku) ((en))

Cite article

Sproß, C., Schröder, H. & Hofäcker, D. (2009): Germany. Statistical Profile. (Country Statistical Profile 15), Chestnut Hill, Mass., 10 p.