Europe's Economic Hub
Germany is the largest market in Europe. It constitutes 21 percent of Europe's GDP (EU-28) and is home to 16 percent of the total European Union (EU) population. The German economy is both highly industrialized and diversified – with equal focus placed on services and production.
After two years of weaker growth, Germany recovered in 2014. The German economy finds itself in a solid upswing. The German government forecasts significant growth of 1,8% in GDP for 2015 and 2016.
The German exporting industry presents itself stronger than ever. It is an important pillar of German economy. The decline of international trade in the wake of the financial crisis was soon overcome. Germany is the world’s third-largest exporter after China and the United States. The export figures in 2014 were on a similar high level as record setting year of 2013. The demand for export products is still high. Thus, imports in 2014 amounted to 917 billion euros and exports surpassed the 1.1 trillion euro mark.
German-produced goods from the chemical, automotive, and machinery & equipment industries are in particularly high demand worldwide. Germany’s main trading partners include European countries such as France, the UK, Italy, and the Netherlands as well as international markets such as the United States, China, Russia, and Japan. Sixty-eight percent of all exports are delivered to European countries, of which of which 58 percent go to member states of the European Union. In 2014, the number two region for German exports was Asia, receiving approximately 17 percent of all goods from Germany, followed by the Americas at roughly twelve percent.
Source: Germany Trade & Invest