Economy - overview:
Germany's affluent and technologically powerful economy - the fifth largest in the world - has become one of the slowest growing economies in the euro zone. A quick turnaround is not in the offing in the foreseeable future. Growth in 2001-03 fell short of 1%, rising to 1.7% in 2004. The modernization and integration of the eastern German economy continues to be a costly long-term process, with annual transfers from west to east amounting to roughly $70 billion. Germany's aging population, combined with high unemployment, has pushed social security outlays to a level exceeding contributions from workers. Structural rigidities in the labor market - including strict regulations on laying off workers and the setting of wages on a national basis - have made unemployment a chronic problem. Corporate restructuring and growing capital markets are setting the foundations that could allow Germany to meet the long-term challenges of European economic integration and globalization, particularly if labor market rigidities are further addressed. In the short run, however, the fall in government revenues and the rise in expenditures have raised the deficit above the EU's 3% debt limit.

Agriculture
potatoes, wheat, barley, sugar beets, fruit, cabbages; cattle, pigs, poultry

Airlines
Airlines in Europe
Airlines Worldwide

Airports
Airports in Europe
Airports Worldwide

Consumer Reports
Stiftung Warentest -DE (Germany) In German
 
Country Budget
revenues: $1.2 trillion
expenditures: $1.3 trillion, including capital expenditures of NA (2004 est.)

Currency (code)
euro (EUR)
note: on 1 January 1999, the European Monetary Union introduced the euro as a common currency to be used by financial institutions of member countries; on 1 January 2002, the euro became the sole currency for everyday transactions within the member countries.

Currency Exchange Rate
euros per US dollar - 0.8054 (2004), 0.886 (2003), 1.0626 (2002), 1.1175 (2001), 1.0854 (2000)

Fiscal Year
calendar year

GDP (Gross Domestic Product)
GDP (purchasing power parity): $2.362 trillion (2004 est.)
GDP - real growth rate: 1.7% (2004 est.)
GDP - per capita: purchasing power parity - $28,700 (2004 est.)
GDP - composition by sector:
agriculture: 1%
industry: 31%
services: 68% (2002 est.)

Imports / Exports
Exports: $893.3 billion f.o.b. (2004 est.)
Exports - commodities: machinery, vehicles, chemicals, metals and manufactures, foodstuffs, textiles
Exports - partners: France 10.3%, US 8.8%, UK 8.3%, Italy 7.2%, Netherlands 6.2%, Belgium 5.6%, Austria 5.4%, Spain 5% (2004)

Imports: $716.7 billion f.o.b. (2004 est.)
Imports - commodities: machinery, vehicles, chemicals, foodstuffs, textiles, metals
Imports - partners: France 9%, Netherlands 8.3%, US 7%, Italy 6.1%, UK 5.9%, China 5.6%, Belgium 4.9%, Austria 4.2% (2004)

Industries
among the world's largest and most technologically advanced producers of iron, steel, coal, cement, chemicals, machinery, vehicles, machine tools, electronics, food and beverages; shipbuilding; textiles

Investing
Forex, Foreign Exchange Market: Currency Trading

Labor Force & Unemployment Rate
Labor force: 42.63 million (2004 est.)
Labor force - by occupation: agriculture 2.8%, industry 33.4%, services 63.8% (1999)
Unemployment rate: 10.6% (2004 est.)
 

Package Tracking
UPS Package (verfolgung) DE (Germany)