Federal Republic of Germany

Germany is the largest national economy in Europe, the third largest by nominal gross domestic product (GDP) in the world, and ranked fifth by purchasing power parity (PPP). Growth in 2007 was 2.4 %.

Motor, innovator and beneficiary of an ever more globalized economy

Since the age of industrialisation the country has been motor, innovator and beneficiary of an ever more globalized economy. The export of goods "Made in Germany" is one of the main factors of the country's wealth. Germany is the world's top exporter with $1,133 trillion exported in 2006 (Eurozone countries are included) and generates a trade surplus of –165 billion. The service sector contributes around 70 % to the total GDP, the industrial 29.1% and agricultural sector 0.9%. Most of the country's products are in engineering, especially in automobiles, machinery, metals, and chemical goods. Germany is the leading producer of wind turbines and solar power technology in the world. The largest, annual, international trade fairs and congresses are held in several German cities such as Hanover, Frankfurt and Berlin.

Germany is a strong supporter of closer European economic and political integration, and its commercial policies are increasingly determined by agreements among European Union (EU) members and EU single market legislation. Germany uses the common European currency, the euro, and its monetary policy is set by the European Central Bank in Frankfurt. Since the German reunification in 1990, the standard of living and income has remained significantly higher in the former West German states. The modernisation and integration of the eastern German economy continues to be a long-term process scheduled to the year 2019, with annual transfers from west to east amounting to roughly $80 billion.

Reference: wikipedia.org