Germany Economy overview:
Now we will discuss German GDP. Its capital and largest city name is Berlin. Its official and national language is German. It is the largest country in Europe by its area. Its total area is 357,022 km2. Also, it has a big population country in Europe. Its total population is 83,190,700 approx. by the year 2020. Also, its population density is 232/km2.
Its currency name is Euro. It is associated with EU, WTO, and OECD organizations which are trade organizations.
Its total GDP is $4.30 trillion (nominal), in the year 2021 and $4.70 trillion (PPP) in the year 2021. Her GDP rank is 4th (nominal), in the year 2021 and 5th (PPP), in the year 2021. German GDP growth rate is 4.1% in the year 2021. His GDP per capita is $51,960 (PPP), in the year 2021 and $57,100 (PPP), in the year 2021. Its GDP per capita rank is 15th (nominal), in the year 2021 and 15th (PPP), in the year 2021. When we talk about its GDP by sector, agriculture: 0.7%, industry: 31%, and services 68%, in the year 2017.
The inflation rate in Germany is 0.5%, in the year 2020. When we talk about the population below the poverty line rate in Germany, so population below the poverty line rate is 17.4%, in the year 2019. When we talk about its human development index, therefore its HDI rate is 0.947, in the year 2019 which is considered very high in the world.
The total labor force in Germany is 42 million approx. in the year 2020. When we talk about its labor force by occupation, so agriculture is 1.5%, industry 25%, and services 75% in the year 2016. The unemployment rate in Germany is 4.5%, in the year 2020. Foreign reserves in Germany is $400 billion in the year 2020.
Total exports in Germany are $2 trillion, in the year 2019. Germany’s main export goods are machinery, chemicals, electronics, motor vehicles, textiles, food products, etc. its main export partners are the United States, France, China, United Kingdom, Netherlands, Italy, etc.
In conclusion, Germany’s total imports are $1.8 trillion, in the year 2019. Its main import goods are machinery, chemicals, oil and gas, metals, electronics, food products, etc. its main import partners are the Netherlands, China, France, Belgium, Italy, Poland, etc.
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