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Economy of Germany

Germany, formally the Federal Republic of Germany, is a sovereign nation that comes in the western-central Europe. The nation comprises 16 states and Berlin is its capital and largest city. Germany is regarded as the frontrunner economic hub and major political power holder of the European continent. It has the sixth largest economy in the world. The estimated GDP of Germany in terms of purchasing power parity (PPP) was calculated $3.227 trillion in the year 2013. Germany is a kind of nations where people are pretty skillful; the country has a massive capital stock as well. Germany has managed to stable its economic position because of less corruption rate as compared to the other nation. It is a kind of nation who believes to spend for innovation and technology which has made it a social hub for businesses. Germany hosts so many trade fairs annually and provides businesspersons with exposure that they always dreamed of. Some of the notable industries of Germany include iron, steel, coal, cement, chemicals, machinery, automobiles, beverages and textiles. Germany has a calendar year system for their annual fiscal plans.

Imports of Germany

To cater the varying internal demands of its citizens and industries, Germany imports a large volume of commodities from various imports partners, such as Netherlands, France, China, Belgium, Italy, UK, United States of America, Switzerland and Poland. With the estimated import value of $1.233 trillion as per the records of 2013, Germany is the fourth largest importer of the world. Automobiles, chemicals, oil & gas, metals, pharmaceuticals, agricultural products and machinery are among the major import commodities of Germany.

Exports of Germany

Germany strongly believes to enhance the volume of its exports for the stability of the nation. The estimated export value of Germany was $1.493 trillion as per the calculations of 2013. The major export commodities of Germany include automobile, chemicals, consumer electronic items, pharmaceuticals, transport equipment, textiles, plastic products, foodstuffs and so many others. The main export partners of Germany include France, US, UK, Netherlands, China, Italy, Austria and Belgium.

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Capital
Berlin
Dialing Code
+49
Fiscal Year
Calendar Year
Currency
Euro
GDP
$2,918,000,000,000
Exports
$1.543 trillion (2011 est.) | Motor Vehicles, Machinery, Chemicals, Computer And Electronic Products, Electrical Equipment, Pharmaceuticals, Metals, Transport Equipment, Foodstuffs, Textiles, Rubber And Plastic Products
Imports
$1.339 trillion (2011 est.) | Machinery, Data Processing Equipment, Vehicles, Chemicals, Oil And Gas, Metals, Electric Equipment, Pharmaceuticals, Foodstuffs, Agricultural Products
Industries
Among The Worlds Largest And Most Technologically Advanced Producers Of Iron, Steel, Coal, Cement, Chemicals, Machinery, Vehicles, Machine Tools, Electronics, Food And Beverages, Shipbuilding, Textiles