Germany

Economy {{main|Economy of Germany}}

[[image:50ec ger.png|thumb|right|150px|A euro coins|50 euro cent coin

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featuring the Brandenburg Gate, symbol of division and reunification]]

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Germany is the world's third largest economy measured by gross domestic product, placed behind the United States and Japan. According to the World Trade Organization, Germany is also the world's top exporter, ahead of the United States and China. Its major trading partners include France, the United States, the United Kingdom, Italy and the Netherlands. A major issue of concern remains the persistently high unemployment rate and weak domestic demand which slows down economic growth. However, according to Bert Rürup, head of Germany's Council of Economic Advisers, reunification is to blame for two-thirds of Germany's growth lag compared to its EU neighbours. In particular, eastern Germany lacks a solid base of small and medium-sized companies, which provided the foundation for West Germany's economic prosperity.

Related Topics:
Gross domestic product - United States - Japan - World Trade Organization - China - France - United Kingdom - Italy - Netherlands - Unemployment - Reunification - EU - West Germany

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Agriculture

For many years now agriculture in Germany has been in a state of decline. Poor earnings and lack of profitability are counted as the main reasons for the failure of many medium and small farms. The main crops grown are potatoes, wheat, barley, sugar beet and cabbage. Germany ranks among the world's largest producers of milk, milk byproducts and meat. Agricultural support is managed under the EU Common Agricultural Policy.

Related Topics:
Farms - Potato - Wheat - Barley - Sugar beet - Cabbage - Milk - Meat - EU - Common Agricultural Policy

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Industrial sector

As in most other large economic nations, Germany's industrial sector has declined in favour of the service sector. Germany is among the world's largest and most technologically advanced producers of iron, steel, cement, chemicals, machinery, motor vehicles, machine tools and electronics, as well as a world leader in the shipbuilding industry. Major car manufacturers like BMW, DaimlerChrysler, Porsche and Volkswagen, and it is also home to huge multinational corporations like Siemens AG, which consistently rank among the world's largest firms.

Related Topics:
Iron - Steel - Cement - Chemicals - Machinery - Motor vehicles - Machine tool - Electronics - Shipbuilding - BMW - DaimlerChrysler - Porsche - Volkswagen - Siemens AG

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Service sector

The service sector has grown steadily in recent years and now contributes the largest share of GDP. This sector includes tourism. As of 2004, the largest numbers of foreign visitors to Germany came from the Netherlands, followed by the United States and the United Kingdom (http://www.destatis.de/basis/e/tour/tourtab4.htm). Germany also has a large (and possibly underrated) presence in the banking world, lead by Deutsche Bank and Allianz.

Related Topics:
Service sector - Tourism - 2004 - Deutsche Bank - Allianz

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Natural resources

Germany is lacking in natural raw materials, if one disregards the hard coal deposits in the Ruhr area, in the Aachen district and in the Saarland, where mining is profitable only thanks to state subsidies. Brown coal from mines in the Leipziger Bucht and the Niederlausitz is still the major energy source in the eastern Bundesländer, while mineral oil enjoys this position in the western "Länder". The current red-Green coalition government is pursuing a long-term strategy of phasing out nuclear power in favour of renewable sources of energy.

Related Topics:
Coal - Ruhr area - Aachen - Saarland - Leipzig - Bundesländer - Mineral oil - Red-Green - Nuclear power - Renewable

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