Economy of Germany Currency Euro (EUR, €)Calendar year Trade organisations
EU , WTO , G-20 , G7 and OECD Country group
Population 83,445,000 (2024 est. )[ 6] GDP GDP rank GDP growth
−0.3% (2023)[ 7]
0.0% (2024)[ 7]
+0.8% (2025)[ 7]
GDP per capita
$55,521 (nominal; 2024)[ 7]
$70,930 (PPP; 2024)[ 7]
GDP per capita rank
GDP by sector
GDP by component
Household consumption: 53.1%
Government consumption: 19.5%
Investment in fixed capital: 20.4%
Investment in inventories: −0.5%
Exports of goods and services: 47.3%
Imports of goods and services: −38.7%
(2017)[ 3]
6.0% (2023)
2.4% (2024)
2.0% (2025)[ 7]
21.3% at risk of poverty or social exclusion (AROPE 2023)[ 8] 29.4 low (2023)[ 9] 78 out of 100 points (2023)[ 11] (rank 9th )Labour force
50 million (2023)[ 12]
81.1% employment rate (2023)[ 13]
Labour force by occupation
Unemployment
5.4% (2022)[ 12]
5.8% youth unemployment (August 2020)[ 12]
2.0 million unemployed (August 2020)[ 12]
Average gross salary
€4,924 monthly (2023) €3,118 monthly (2023) Main industries
Exports $1.62 trillion (2022)[ 14] [ 3] Export goods
motor vehicles, machinery, chemicals, computer and electronic products, electrical equipment, pharmaceuticals, metals, transport equipment, foodstuffs, textiles, rubber and plastic products Main export partners
Imports $1.17 trillion (2022)[ 15] [ 3] Import goods
machinery, data processing equipment, vehicles, chemicals, oil and gas, metals, electric equipment, pharmaceuticals, foodstuffs, agricultural products Main import partners
$1.653 trillion (2017)[ 3]
Abroad: $2.298 trillion (2017)[ 3]
$280 billion (2019)[ 3] $5.4 trillion (2022)[ 16]
63.6% of GDP (2023)[ 17]
€2.6 trillion (2023)[ 17]
€102 billion deficit (2023)[ 17]
−2.5% of GDP (2023)[ 17]
Revenues 46.1% of GDP (2023)[ 17] Expenses 48.6% of GDP (2023)[ 17] Economic aid $400 billion (2022)[ 23] All values, unless otherwise stated, are in US dollars .
The economy of Germany is a highly developed social market economy . It has the largest national economy in Europe , the third-largest by nominal GDP in the world, and fifth by GDP (PPP) . Due to a volatile currency exchange rate , Germany's GDP as measured in dollars fluctuates sharply. In 2017, the country accounted for 28% of the Euro area economy according to the International Monetary Fund (IMF).[ 25] Germany is a founding member of the European Union and the eurozone .[ 26] [ 27]
In 2016, Germany recorded the highest trade surplus in the world, worth $310 billion.[ 28] This economic result made it the biggest capital exporter globally.[ 29] Germany is one of the largest exporters globally with $1.81 trillion worth of goods and services exported in 2019.[ 30] [ 31] The service sector contributes around 70% of the total GDP, industry 29.1%, and agriculture 0.9%. Exports accounted for 50.3% of national output.[ 32] [ 33] The top 10 exports of Germany are vehicles, machinery, chemical goods, electronic products, electrical equipment, pharmaceuticals, transport equipment, basic metals, food products, and rubber and plastics.[ 34] The economy of Germany is the largest manufacturing economy in Europe, and it is less likely to be affected by a financial downturn.[ 35] Germany conducts applied research with practical industrial value and sees itself as a bridge between the latest university insights and industry-specific product and process improvements. It generates a great deal of knowledge in its own laboratories.[ 36] Among OECD members, Germany has a highly efficient and strong social security system , which comprises roughly 25% of GDP .[ 5] [ 37] [ 4]
Germany is rich in timber , lignite , potash , and salt . Some minor sources of natural gas are being exploited in the state of Lower Saxony . Until German reunification , the German Democratic Republic mined for uranium in the Ore Mountains (see also: SAG/SDAG Wismut ). Energy in Germany is sourced predominantly by fossil fuels (30%), with wind power in second place, then gas, solar, biomass (wood and biofuels), and hydro.[ 38] Germany is the first major industrialised nation to commit to the renewable energy transition called Energiewende . Germany is the leading producer of wind turbines in the world.[ 39] Renewables produced 46% of electricity consumed in Germany (as of 2019).[ 40] Germany has been called "the world's first major renewable energy economy".[ 41] [ 42] Germany has the world's second-largest gold reserve , with over 3,000 tonnes of gold.[ 43] Germany spends around 3.14% of GDP on advance research and development across various sectors of the economy.[ 44] [ 45] It is also the world's second-largest high-technology exporter .[ 46]
More than 99 per cent of all German companies belong to the German "Mittelstand ",[ 47] small and medium-sized enterprises, which are mostly family-owned. These companies represent 48% of the global market leaders in their segments, labelled hidden champions .[ 48] Of the world's 2000 largest publicly listed companies measured by revenue , the Fortune Global 2000 , 53 are headquartered in Germany, as are 28 of Europe's 100 largest , with the top 10 being the following: Allianz , the world's largest insurance company and one of the largest financial services groups and asset managers , largest in Europe ; Munich Re , also one of the largest insurance companies; Daimler , Volkswagen , and BMW , among the biggest car markers in the world;[ 49] Siemens , the world's biggest industrial machinery company; Deutsche Telekom , one of the world's largest telecommunication companies ; Bayer , among the biggest biomedical companies ; BASF , the world's biggest chemical producer ,[ 50] and SAP , Europe's biggest software company .[ 51] Other major companies include Lufthansa , Europe's largest airline, Deutsche Post , the largest logistics company worldwide,[ 52] Deutsche Bahn , the largest railway company in the world,[ 53] [ 54] [ 55] Bosch , the world's largest automotive supplier , Uniper , the world's largest energy company, and Aldi and Schwarz Gruppe , Europe's largest retailers.[ 56]
Germany is home to many financial centres and economically important cities, such as Berlin , Hamburg , Munich , Cologne , Frankfurt , and Stuttgart ; 6 of the 10 biggest EU metropolitan areas by GDP are in Germany. 7 German banks are among the biggest in the world .
Germany is the world's top location for trade fairs;[ 57] around two thirds of the world's leading trade fairs take place in Germany.[ 58] Some of the largest international trade fairs and congresses are held in several German cities such as Hanover , Frankfurt, Cologne, Leipzig , and Düsseldorf .
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