Overview Germany
Germany is the largest economy in the European Union and the fourth largest in the world. With the highest GDP and the largest number of inhabitants in the EU, Germany is Europe’s most important market. Gross Domestic Product equates to EUR 2,489 billion (2008), GNP per capita is EUR 29,477 (2007). (Source: Facts about Germany, 2009)
Germany is Europe’s economic engine. Investors profit from the economic performance of the world’s fourth largest economy. Germany offers a large domestic market and easy access to growth markets in the enlarged European Union.
Germany is a founding member of the European Union and an active and leading member of key European and international organisations. Ever respectful of recent 20th century history, Germany is generally cautious in exercising its political power, and is a strong advocate for multilateral and regional decision making bodies, in particular the EU and UN.
The reunification of East and West Germany in 1990 led to a boom most notably in the construction industry, but it also resulted in a lot of strain on the nation’s finances. Major challenges included reducing unemployment, dealing with an increasing budget deficit and lowering pension, health and welfare costs.
Germany is a country with few raw materials of its own, however if one considers overall economic performance, it is the fourth largest economy in the world. This position is largely thanks to its trading powers. It is the largest economy in Europe and number one exporter.
