Germany - Economic Indicators
Economic Roundup: Chilly Winter, Hot Housing Market
Feb 24, 2021
Download the full version of the Economic Roundup Higher mortgage rates are needed to cool the U.S. housing market. New-home sales rose 4.3% to 923,000 annualized units in January, better than either we or the consensus anticipated. There was a significant upward revision to December new-home sales as they are now shown to have been 885,000 annualized units (previously 842,000). New-home sales were 73% of single-family permits, in line with that seen...
| GDP | Reference | Last | Previous | Units | Frequency |
|---|---|---|---|---|---|
| Private Consumption | 2020 Q4 | 424.88 | 436.4 | Bil. EUR, CDASA | Quarterly |
| Real Private Consumption | 2020 Q4 | 102.17 | 104.56 | Ch. Vol. Index 2015=100, NSA | Quarterly |
| Government Consumption | 2020 Q4 | 190.32 | 189.79 | Bil. EUR, CDASA | Quarterly |
| Real Investment | 2020 Q4 | 116.17 | 98.21 | Ch. Vol. Index 2015=100, NSA | Quarterly |
| Real Government Consumption | 2020 Q4 | 116.15 | 113.87 | Ch. Vol. Index 2015=100, NSA | Quarterly |
| Real Gross Domestic Product | 2020 Q4 | 104.87 | 103.53 | Ch. Vol. Index 2015=100, NSA | Quarterly |
| Nominal Gross Domestic Product | 2020 Q4 | 846.83 | 838.83 | Bil. EUR, CDASA | Quarterly |
| Investment | 2020 Q4 | 172 | 157.54 | Bil. EUR, CDASA | Quarterly |
| Nominal Fixed Investment (gross fixed capital formation) | 2008 | 489,610 | 470,440 | ******* | Annual |
| Real Fixed Investment (gross fixed capital formation) | 2008 | 482,001 | 468,174 | ******* | Annual |
| Price | Reference | Last | Previous | Units | Frequency |
| Producer Price Index (PPI) | Jan 2021 | 106.2 | 104.9 | Index 2015=100, CDASA | Monthly |
| Wholesale Price Index | Jan 2021 | 103.9 | 102.5 | Index 2015=100, CDASA | Monthly |
| Consumer Price Index (CPI) | Dec 2020 | 106.7 | 105.7 | Index 2015=100, CDASA | Monthly |
| Labor | Reference | Last | Previous | Units | Frequency |
| Unemployment Rate | Jan 2021 | 6 | 6 | %, CDASA | Monthly |
| Unemployment | Jan 2021 | 2,729 | 2,770 | Ths. #, CDASA | Monthly |
| Primary Industries Employment | 2020 Q4 | 546 | 597 | Ths. #, NSA | Quarterly |
| Labor Force Employment | Dec 2020 | 44,586 | 44,576 | Ths. #, CDASA | Monthly |
| Total Employment | Dec 2020 | 44,586 | 44,576 | Ths. #, CDASA | Monthly |
| Labor Force | 2019 | 41,064,750 | 46,184,750 | # | Annual |
| Wage & Salaries | 2018 | 1,430,964 | 1,364,927 | Mil. EUR | Annual |
| Agriculture Employment | 2017 | 558,630 | 566,293 | # | Annual |
| Trade | Reference | Last | Previous | Units | Frequency |
| Exports of Goods | Dec 2020 | 100,471 | 110,214 | Mil. DEM/Mil. EUR, NSA | Monthly |
| Imports of Goods | Dec 2020 | 83,209 | 91,767 | Mil. DEM/Mil. EUR, NSA | Monthly |
| Current Account Balance | Dec 2020 | 25.22 | 19.89 | Bil. DEM/Bil. EUR, CDASA | Monthly |
| Balance of Goods | Dec 2020 | 20.58 | 18.09 | Bil. DEM/Bil. EUR, CDASA | Monthly |
| Real Exports of Goods and Services | 2020 Q4 | 107.79 | 100.68 | Ch. Vol. Index 2015=100, NSA | Quarterly |
| Real Imports of Goods and Services | 2020 Q4 | 112.25 | 106.61 | Ch. Vol. Index 2015=100, NSA | Quarterly |
| Imports of Goods and Services | 2020 Q4 | 324.06 | 310.54 | Bil. EUR, CDASA | Quarterly |
| Net Exports | 2020 Q4 | 59.62 | 55.1 | Bil. EUR, CDASA | Quarterly |
| Exports of Goods and Services | 2020 Q4 | 383.68 | 365.64 | Bil. EUR, CDASA | Quarterly |
| Government | Reference | Last | Previous | Units | Frequency |
| Gross External Debt | 2020 Q3 | 5,534,326 | 5,375,475 | Mil. EUR, NSA | Quarterly |
| Government Revenues | 2015 | 1,349,905 | 1,299,553 | Bil. EUR | Annual |
| Markets | Reference | Last | Previous | Units | Frequency |
| Stock Market Index | 23 Feb 2021 | 13,864 | 13,950 | Index, NSA | Daily |
| Treasury Bills (over 31 days) | Apr 2020 | -0.2 | -0.4 | % p.a. | Monthly |
| Average Long-term Government Bond | Apr 2020 | -0.5 | -0.47 | % p.a. | Monthly |
| Lending Rate | 08 Oct 2008 | 4.25 | 4.25 | %, NSA | Daily |
| Real Estate | Reference | Last | Previous | Units | Frequency |
| House Price Index for Existing Homes | Jan 2021 | 165.19 | 165.19 | Index August 2005=100, NSA | Monthly |
| House Price Index | Jan 2021 | 193.07 | 192.11 | Index August 2005=100, NSA | Monthly |
| House Price Value for Existing Homes | Jan 2021 | 353,631 | 347,874 | Euros, NSA | Monthly |
| House Price Index for New Homes | 2020 Q4 | 115.6 | 115.1 | Index 2015=100, NSA | Quarterly |
| Building Permits | Nov 2020 | 32,531 | 30,631 | Number, NSA | Monthly |
| Non-residential Building Permits | Nov 2020 | 4.28 | 4.83 | Bil. DEM/Bil. EUR, CDASA | Monthly |
| Residential Building Permits | 2019 | 119,457 | 117,869 | #, NSA | Annual |
| Building Completions | 2019 | 197,785 | 196,834 | Number | Annual |
| Dwelling Stocks | 2018 | 42,235 | 41,968 | Ths., NSA | Annual |
| Consumer | Reference | Last | Previous | Units | Frequency |
| Consumer Confidence | Jan 2021 | -14 | -10.5 | SA | Monthly |
| Retail Sales | Nov 2020 | 127.4 | 130.5 | Vol. Index 2015=100, NSA | Monthly |
| Personal Income | 2018 | 22,899 | 22,623 | EUR | Annual |
| Business | Reference | Last | Previous | Units | Frequency |
| Capacity Utilization | 2021 Q1 | 80.4 | 79.1 | %, SA | Quarterly |
| Business Confidence | Feb 2021 | 92.4 | 90.3 | Index 2015=100, SA | Monthly |
| Industrial Production | Dec 2020 | 97.5 | 96.6 | Vol. Index 2015=100, CDASA | Monthly |
| Change in Inventories | 2020 Q4 | -13.1 | -24.81 | Bil. EUR, CDASA | Quarterly |
| Real Change in Inventories | 2020 Q4 | -13.1 | -24.81 | Bil. EUR, CDASA | Quarterly |
| Demographics | Reference | Last | Previous | Units | Frequency |
| Population | 2019 | 83,073 | 82,905 | Ths., NSA | Annual |
| Birth Rate | 2018 | 9.5 | 9.5 | # per 1000 people | Annual |
| Death Rate | 2018 | 11.5 | 11.3 | # per 1000 people | Annual |
| Births | 2017 | 784,884 | 792,131 | # | Annual |
| Deaths | 2017 | 932,263 | 910,902 | # | Annual |
| Net Migration | 2017 | 416,080 | 499,944 | Absolute | Annual |
Factbook
Background
Background:
As Europe's largest economy and second most populous nation (after Russia), Germany is a key member of the continent's economic, political, and defense organizations. European power struggles immersed Germany in two devastating World Wars in the first half of the 20th century and left the country occupied by the victorious Allied powers of the US, UK, France, and the Soviet Union in 1945. With the advent of the Cold War, two German states were formed in 1949: the western Federal Republic of Germany (FRG) and the eastern German Democratic Republic (GDR). The democratic FRG embedded itself in key western economic and security organizations, the EC, which became the EU, and NATO, while the communist GDR was on the front line of the Soviet-led Warsaw Pact. The decline of the USSR and the end of the Cold War allowed for German reunification in 1990. Since then, Germany has expended considerable funds to bring eastern productivity and wages up to western standards. In January 1999, Germany and 10 other EU countries introduced a common European exchange currency, the euro.
Geography
Location:
Central Europe, bordering the Baltic Sea and the North Sea, between the Netherlands and Poland, south of Denmark
Geographic coordinates:
51 00 N, 9 00 E
Map references:
Europe
Area:
total: 357,022 sq km
land: 348,672 sq km
water: 8,350 sq km
country comparison to the world: 64
Area - comparative:
three times the size of Pennsylvania; slightly smaller than Montana
Area comparison map:
Land boundaries:
total: 3,714 km
border countries (9): Austria 801 km, Belgium 133 km, Czech Republic 704 km, Denmark 140 km, France 418 km, Luxembourg 128 km, Netherlands 575 km, Poland 467 km, Switzerland 348 km
Coastline:
2,389 km
Maritime claims:
territorial sea: 12 nm
exclusive economic zone: 200 nm
continental shelf: 200-m depth or to the depth of exploitation
Climate:
temperate and marine; cool, cloudy, wet winters and summers; occasional warm mountain (foehn) wind
Terrain:
lowlands in north, uplands in center, Bavarian Alps in south
Elevation:
mean elevation: 263 m
elevation extremes: lowest point: Neuendorf bei Wilster -3.5 m
highest point: Zugspitze 2,963 m
Natural resources:
coal, lignite, natural gas, iron ore, copper, nickel, uranium, potash, salt, construction materials, timber, arable land
Land use:
agricultural land: 48%
arable land 34.1%; permanent crops 0.6%; permanent pasture 13.3%
forest: 31.8%
other: 20.2% (2011 est.)
Irrigated land:
6,500 sq km (2012)
Population - distribution:
most populous country in Europe; a fairly even distribution throughout most of the country, with urban areas attracting larger and denser populations, particularly in the far western part of the industrial state of North Rhine-Westphalia
Natural hazards:
flooding
Environment - current issues:
emissions from coal-burning utilities and industries contribute to air pollution; acid rain, resulting from sulfur dioxide emissions, is damaging forests; pollution in the Baltic Sea from raw sewage and industrial effluents from rivers in eastern Germany; hazardous waste disposal; government established a mechanism for ending the use of nuclear power by 2022; government working to meet EU commitment to identify nature preservation areas in line with the EU's Flora, Fauna, and Habitat directive
Environment - international agreements:
party to: Air Pollution, Air Pollution-Nitrogen Oxides, Air Pollution-Persistent Organic Pollutants, Air Pollution-Sulfur 85, Air Pollution-Sulfur 94, Air Pollution-Volatile Organic Compounds, Antarctic-Environmental Protocol, Antarctic-Marine Living Resources, Antarctic Seals, Antarctic Treaty, Biodiversity, Climate Change, Climate Change-Kyoto Protocol, Desertification, Endangered Species, Environmental Modification, Hazardous Wastes, Law of the Sea, Marine Dumping, Ozone Layer Protection, Ship Pollution, Tropical Timber 83, Tropical Timber 94, Wetlands, Whaling
signed, but not ratified: none of the selected agreements
Geography - note:
strategic location on North European Plain and along the entrance to the Baltic Sea; most major rivers in Germany - the Rhine, Weser, Oder, Elbe - flow northward; the Danube, which originates in the Black Forest, flows eastward
People & Society
Population:
80,594,017 (July 2017 est.)
country comparison to the world: 19
Nationality:
noun: German(s)
adjective: German
Ethnic groups:
German 91.5%, Turkish 2.4%, other 6.1% (made up largely of Polish, Italian, Romanian, Syrian, and Greek)
Languages:
German (official)
note: Danish, Frisian, Sorbian, and Romani are official minority languages; Low German, Danish, North Frisian, Sater Frisian, Lower Sorbian, Upper Sorbian, and Romani are recognized as regional languages under the European Charter for Regional or Minority Languages
Religions:
Roman Catholic 29%, Protestant 27%, Muslim 4.4%, Orthodox Christian 1.9%, other 1.7%, none or members of unrecorded religious groups 36% (2015 est.)
Age structure:
0-14 years: 12.82% (male 5,304,341/female 5,028,776)
15-24 years: 10.09% (male 4,145,486/female 3,986,302)
25-54 years: 40.45% (male 16,467,975/female 16,133,964)
55-64 years: 14.58% (male 5,834,179/female 5,913,322)
65 years and over: 22.06% (male 7,822,221/female 9,957,451) (2017 est.)
population pyramid:
Dependency ratios:
total dependency ratio: 52.1
youth dependency ratio: 19.9
elderly dependency ratio: 32.1
potential support ratio: 3.1 (2015 est.)
Median age:
total: 47.1 years
male: 46 years
female: 48.2 years (2017 est.)
country comparison to the world: 3
Population growth rate:
-0.16% (2017 est.)
country comparison to the world: 208
Birth rate:
8.6 births/1,000 population (2017 est.)
country comparison to the world: 213
Death rate:
11.7 deaths/1,000 population (2017 est.)
country comparison to the world: 24
Net migration rate:
1.5 migrant(s)/1,000 population (2017 est.)
country comparison to the world: 53
Population distribution:
most populous country in Europe; a fairly even distribution throughout most of the country, with urban areas attracting larger and denser populations, particularly in the far western part of the industrial state of North Rhine-Westphalia
Urbanization:
urban population: 75.7% of total population (2017)
rate of urbanization: 0.12% annual rate of change (2015-20 est.)
Major urban areas - population:
BERLIN (capital) 3.563 million; Hamburg 1.831 million; Munich 1.438 million; Cologne 1.037 million (2015)
Sex ratio:
at birth: 1.05 male(s)/female
0-14 years: 1.05 male(s)/female
15-24 years: 1.04 male(s)/female
25-54 years: 1.02 male(s)/female
55-64 years: 0.98 male(s)/female
65 years and over: 0.78 male(s)/female
total population: 0.97 male(s)/female (2017 est.)
Mother's mean age at first birth:
29.4 years (2015 est.)
Maternal mortality ratio:
6 deaths/100,000 live births (2015 est.)
country comparison to the world: 168
Infant mortality rate:
total: 3.4 deaths/1,000 live births
male: 3.7 deaths/1,000 live births
female: 3.1 deaths/1,000 live births (2017 est.)
country comparison to the world: 205
Life expectancy at birth:
total population: 80.8 years
male: 78.5 years
female: 83.3 years (2017 est.)
country comparison to the world: 34
Total fertility rate:
1.45 children born/woman (2017 est.)
country comparison to the world: 205
Health expenditures:
11.3% of GDP (2014)
country comparison to the world: 10
Physicians density:
4.19 physicians/1,000 population (2015)
Hospital bed density:
8.3 beds/1,000 population (2013)
Drinking water source:
improved:
urban: 100% of population
rural: 100% of population
total: 100% of population
unimproved:
urban: 0% of population
rural: 0% of population
total: 0% of population (2015 est.)
Sanitation facility access:
improved:
urban: 99.3% of population
rural: 99% of population
total: 99.2% of population
unimproved:
urban: 0.7% of population
rural: 1% of population
total: 0.8% of population (2015 est.)
HIV/AIDS - adult prevalence rate:
NA
HIV/AIDS - people living with HIV/AIDS:
NA (2016 est.)
HIV/AIDS - deaths:
NA
Obesity - adult prevalence rate:
22.3% (2016)
country comparison to the world: 79
Education expenditures:
4.9% of GDP (2014)
country comparison to the world: 74
School life expectancy (primary to tertiary education):
total: 17 years
male: 17 years
female: 17 years (2015)
Unemployment, youth ages 15-24:
total: 7.2%
male: 7.9%
female: 6.5% (2015 est.)
country comparison to the world: 139
Government
Country name:
conventional long form: Federal Republic of Germany
conventional short form: Germany
local long form: Bundesrepublik Deutschland
local short form: Deutschland
former: German Reich
etymology: the Gauls (Celts) of Western Europe may have referred to the newly arriving Germanic tribes who settled in neighboring areas east of the Rhine during the first centuries B.C. as "Germani," a term the Romans adopted as "Germania"; the native designation "Deutsch" comes from the Old High German "diutisc" meaning "of the people"
Government type:
federal parliamentary republic
Capital:
name: Berlin
geographic coordinates: 52 31 N, 13 24 E
time difference: UTC+1 (6 hours ahead of Washington, DC, during Standard Time)
daylight saving time: +1hr, begins last Sunday in March; ends last Sunday in October
Administrative divisions:
16 states (Laender, singular - Land); Baden-Wuerttemberg, Bayern (Bavaria), Berlin, Brandenburg, Bremen, Hamburg, Hessen (Hesse), Mecklenburg-Vorpommern (Mecklenburg-Western Pomerania), Niedersachsen (Lower Saxony), Nordrhein-Westfalen (North Rhine-Westphalia), Rheinland-Pfalz (Rhineland-Palatinate), Saarland, Sachsen (Saxony), Sachsen-Anhalt (Saxony-Anhalt), Schleswig-Holstein, Thueringen (Thuringia); note - Bayern, Sachsen, and Thueringen refer to themselves as free states (Freistaaten, singular - Freistaat), while Hamburg prides itself on being a Free and Hanseatic City (Freie und Hansestadt)
Independence:
18 January 1871 (establishment of the German Empire); divided into four zones of occupation (UK, US, USSR, and France) in 1945 following World War II; Federal Republic of Germany (FRG or West Germany) proclaimed on 23 May 1949 and included the former UK, US, and French zones; German Democratic Republic (GDR or East Germany) proclaimed on 7 October 1949 and included the former USSR zone; West Germany and East Germany unified on 3 October 1990; all four powers formally relinquished rights on 15 March 1991; notable earlier dates: 10 August 843 (Eastern Francia established from the division of the Carolingian Empire); 2 February 962 (crowning of OTTO I, recognized as the first Holy Roman Emperor)
National holiday:
German Unity Day, 3 October (1990)
Constitution:
history: previous 1919 (Weimar Constitution); latest drafted 10 to 23 August 1948, approved 12 May 1949, promulgated 23 May 1949, entered into force 24 May 1949
amendments: proposed by Parliament; passage and enactment into law require two-thirds majority vote by both the Bundesrat (upper house) and the Bundestag (lower house) of Parliament; articles including those on basic human rights and freedoms cannot be amended; amended many times, last in 2017 (2018)
Legal system:
civil law system
International law organization participation:
accepts compulsory ICJ jurisdiction with reservations; accepts ICCt jurisdiction
Citizenship:
citizenship by birth: no
citizenship by descent only: at least one parent must be a German citizen or a resident alien who has lived in Germany at least 8 years
dual citizenship recognized: yes, but requires prior permission from government
residency requirement for naturalization: 8 years
Suffrage:
18 years of age; universal; age 16 for some state and municipal elections
Executive branch:
chief of state: President Frank-Walter STEINMEIER (since 19 March 2017)
head of government: Chancellor Angela MERKEL (since 22 November 2005)
cabinet: Cabinet or Bundesminister (Federal Ministers) recommended by the chancellor, appointed by the president
elections/appointments: president indirectly elected by a Federal Convention consisting of all members of the Federal Parliament (Bundestag) and an equivalent number of delegates indirectly elected by the state parliaments; president serves a 5-year term (eligible for a second term); election last held on 12 February 2017 (next to be held in February 2022); following the most recent Federal Parliament election, the party or coalition with the most representatives usually elects the chancellor and appointed by the president to serve a renewable 4-year term; Federal Parliament vote for chancellor last held on 14 March 2018 (next to be held in 2023)
election results: Frank-Walter STEINMEIER elected president; Federal Convention vote count - Frank-Walter STEINMEIER (SPD) 931, Christopher BUTTERWEGGE (The Left) 128, Albrecht GLASER (Alternative for Germany AfD) 42, Alexander HOLD (BVB/FW) 25, Engelbert SONNEBORN (Pirates) 10; Angela MERKEL (CDU) reelected chancellor; Federal Parliament vote - 364 to 315
Legislative branch:
description: bicameral Parliament or Parlament consists of the Federal Council or Bundesrat (69 seats; members appointed by each of the 16 state governments) and the Federal Diet or Bundestag (709 seats - total seats can vary each electoral term; approximately one-half of members directly elected in multi-seat constituencies by proportional representation vote and approximately one-half directly elected in single-seat constituencies by simple majority vote; members serve 4-year terms)
elections: Bundestag - last held on 24 September 2017 (next to be held in 2021); most postwar German governments have been coalitions; note - there are no elections for the Bundesrat; composition is determined by the composition of the state-level governments; the composition of the Bundesrat has the potential to change any time one of the 16 states holds an election
election results: Bundestag - percent of vote by party - CDU/CSU 32.9%, SPD 20.5%, AfD 12.6%, FDP 10.8%, The Left 9.2%, Alliance '90/Greens 8.9%, other 5%; seats by party - CDU/CSU 246, SPD 153, FDP 80, The Left 69, Alliance '90/Greens 67
Judicial branch:
highest court(s): Federal Court of Justice (court consists of 127 judges including the court president, vice-presidents, presiding judges, and other judges, and organized into 25 Senates subdivided into 12 civil panels, 5 criminal panels, and 8 special panels; Federal Constitutional Court or Bundesverfassungsgericht (consists of 2 Senates each subdivided into 3 chambers, each with a chairman and 8 members)
judge selection and term of office: Federal Court of Justice judges selected by the Judges Election Committee, which consists of the Secretaries of Justice from each of the 16 federated States and 16 members appointed by the Federal Parliament; judges appointed by the president of Germany; judges serve until mandatory retirement at age 65; Federal Constitutional Court judges - one-half elected by the House of Representatives and one-half by the Senate; judges appointed for 12-year terms with mandatory retirement at age 68
subordinate courts: Federal Administrative Court; Federal Finance Court; Federal Labor Court; Federal Social Court; each of the 16 German states or Land has its own constitutional court and a hierarchy of ordinary (civil, criminal, family) and specialized (administrative, finance, labor, social) courts
Political parties and leaders:
Alliance '90/Greens [Annalena BAERBOCK and Robert HABECK]
Alternative for Germany or AfD [Alexander GAULAND and Joerg MEUTHEN]
Christian Democratic Union or CDU [Angela MERKEL]
Christian Social Union or CSU [Horst SEEHOFER]
Free Democratic Party or FDP [Christian LINDNER]
The Left or Die Linke [Katja KIPPING and Bernd RIEXINGER]
Social Democratic Party or SPD [Andrea NAHLES]
Political pressure groups and leaders:
business associations and employers' organizations
trade unions; religious, immigrant, expellee, and veterans groups
International organization participation:
ADB (nonregional member), AfDB (nonregional member), Arctic Council (observer), Australia Group, BIS, BSEC (observer), CBSS, CD, CDB, CE, CERN, EAPC, EBRD, ECB, EIB, EITI (implementing country), EMU, ESA, EU, FAO, FATF, G-5, G-7, G-8, G-10, G-20, IADB, IAEA, IBRD, ICAO, ICC (national committees), ICCt, ICRM, IDA, IEA, IFAD, IFC, IFRCS, IGAD (partners), IHO, ILO, IMF, IMO, IMSO, Interpol, IOC, IOM, IPU, ISO, ITSO, ITU, ITUC (NGOs), MIGA, MINURSO, MINUSMA, NATO, NEA, NSG, OAS (observer), OECD, OPCW, OSCE, Pacific Alliance (observer), Paris Club, PCA, Schengen Convention, SELEC (observer), SICA (observer), UN, UNAMID, UNCTAD, UNESCO, UNHCR, UNIDO, UNIFIL, UNMISS, UNRWA, UNWTO, UPU, WCO, WHO, WIPO, WMO, WTO, ZC
Diplomatic representation in the US:
chief of mission: Ambassador Hans Peter WITTIG (since 21 May 2014)
chancery: 4645 Reservoir Road NW, Washington, DC 20007
telephone: [1] (202) 298-4000
FAX: [1] (202) 298-4249
consulate(s) general: Atlanta, Boston, Chicago, Houston, Los Angeles, Miami, New York, San Francisco
Diplomatic representation from the US:
chief of mission: Ambassador Richard GRENELL (since 8 May 2018)
embassy: Pariser Platz 2
mailing address: Clayallee 170, 14191 Berlin
telephone: [49] (30) 8305-0
FAX: [49] (30) 8305-1215
consulate(s) general: Dusseldorf, Frankfurt am Main, Hamburg, Leipzig, Munich
Flag description:
three equal horizontal bands of black (top), red, and gold; these colors have played an important role in German history and can be traced back to the medieval banner of the Holy Roman Emperor - a black eagle with red claws and beak on a gold field
National symbol(s):
eagle; national colors: black, red, yellow
National anthem:
name: "Das Lied der Deutschen" (Song of the Germans)
lyrics/music: August Heinrich HOFFMANN VON FALLERSLEBEN/Franz Joseph HAYDN
note: adopted 1922; the anthem, also known as "Deutschlandlied" (Song of Germany), was originally adopted for its connection to the March 1848 liberal revolution; following appropriation by the Nazis of the first verse, specifically the phrase, "Deutschland, Deutschland ueber alles" (Germany, Germany above all) to promote nationalism, it was banned after 1945; in 1952, its third verse was adopted by West Germany as its national anthem; in 1990, it became the national anthem for the reunited Germany
Economy
Economy - overview:
The German economy - the fifth largest economy in the world in PPP terms and Europe's largest - is a leading exporter of machinery, vehicles, chemicals, and household equipment and benefits from a highly skilled labor force. Like its Western European neighbors, Germany faces significant demographic challenges to sustained long-term growth. Low fertility rates and a large increase in net immigration are increasing pressure on the country's social welfare system and necessitate structural reforms.
Reforms launched by the government of Chancellor Gerhard SCHROEDER (1998-2005), deemed necessary to address chronically high unemployment and low average growth, contributed to strong economic growth and falling unemployment. These advances, as well as a government subsidized, reduced working hour scheme, help explain the relatively modest increase in unemployment during the 2008-09 recession - the deepest since World War II. The German Government introduced a minimum wage in 2015 that increased to $9.79 (8.84 euros) in January 2017.
Stimulus and stabilization efforts initiated in 2008 and 2009 and tax cuts introduced in Chancellor Angela MERKEL's second term increased Germany's total budget deficit - including federal, state, and municipal - to 4.1% in 2010, but slower spending and higher tax revenues reduced the deficit to 0.8% in 2011 and in 2017 Germany reached a budget surplus of 0.7%. A constitutional amendment approved in 2009 limits the federal government to structural deficits of no more than 0.35% of GDP per annum as of 2016, though the target was already reached in 2012.
The German economy suffers from low levels of investment, and a government plan to invest 15 billion euros during 2016-18, largely in infrastructure, is intended to spur needed private investment. Following the March 2011 Fukushima nuclear disaster, Chancellor Angela MERKEL announced in May 2011 that eight of the country's 17 nuclear reactors would be shut down immediately and the remaining plants would close by 2022. Germany plans to replace nuclear power largely with renewable energy, which accounted for 29.5% of gross electricity consumption in 2016, up from 9% in 2000. Before the shutdown of the eight reactors, Germany relied on nuclear power for 23% of its electricity generating capacity and 46% of its base-load electricity production. Domestic consumption, investment, and exports are likely to drive German GDP growth in 2018, and the country’s budget and trade surpluses are likely to remain high.
GDP (purchasing power parity):
$4.15 trillion (2017 est.)
$4.066 trillion (2016 est.)
$3.992 trillion (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 6
GDP (official exchange rate):
$3.652 trillion (2016 est.)
GDP - real growth rate:
2.1% (2017 est.)
1.9% (2016 est.)
1.5% (2015 est.)
country comparison to the world: 150
GDP - per capita (PPP):
$50,200 (2017 est.)
$49,300 (2016 est.)
$48,900 (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 27
Gross national saving:
27.6% of GDP (2017 est.)
27.5% of GDP (2016 est.)
27.7% of GDP (2015 est.)
country comparison to the world: 39
GDP - composition, by end use:
household consumption: 53.7%
government consumption: 19.9%
investment in fixed capital: 20.1%
investment in inventories: -1%
exports of goods and services: 47.3%
imports of goods and services: -40% (2017 est.)
GDP - composition, by sector of origin:
agriculture: 0.6%
industry: 30.1%
services: 69.3%
(2017 est.)
Agriculture - products:
potatoes, wheat, barley, sugar beets, fruit, cabbages; milk products; cattle, pigs, poultry
Industries:
among the world's largest and most technologically advanced producers of iron, steel, coal, cement, chemicals, machinery, vehicles, machine tools, electronics, automobiles, food and beverages, shipbuilding, textiles
Industrial production growth rate:
1.4% (2017 est.)
country comparison to the world: 154
Labor force:
45.9 million (2017 est.)
country comparison to the world: 15
Labor force - by occupation:
agriculture: 1.4%
industry: 24.2%
services: 74.3% (2016 est.)
Unemployment rate:
3.8% (2017 est.)
4.2% (2016 est.)
country comparison to the world: 45
Population below poverty line:
16.7% (2015 est.)
Household income or consumption by percentage share:
lowest 10%: 3.6%
highest 10%: 24% (2000 est.)
Distribution of family income - Gini index:
27 (2006 est.)
30 (1994 est.)
country comparison to the world: 142
Budget:
revenues: $1.598 trillion
expenditures: $1.573 trillion (2017 est.)
Taxes and other revenues:
43.8% of GDP (2017 est.)
country comparison to the world: 26
Budget surplus (+) or deficit (-):
0.7% of GDP (2017 est.)
country comparison to the world: 20
Public debt:
65.7% of GDP (2017 est.)
68.4% of GDP (2016 est.)
note: general government gross debt is defined in the Maastricht Treaty as consolidated general government gross debt at nominal value, outstanding at the end of the year in the following categories of government liabilities (as defined in ESA95): currency and deposits (AF.2), securities other than shares excluding financial derivatives (AF.3, excluding AF.34), and loans (AF.4); the general government sector comprises the sub-sectors of central government, state government, local government and social security funds; the series are presented as a percentage of GDP and in millions of euro; GDP used as a denominator is the gross domestic product at current market prices; data expressed in national currency are converted into euro using end-of-year exchange rates provided by the European Central Bank
country comparison to the world: 62
Fiscal year:
calendar year
Inflation rate (consumer prices):
1.6% (2017 est.)
0.4% (2016 est.)
country comparison to the world: 70
Central bank discount rate:
0.25% (31 December 2017 est.)
0.3% (31 December 2010 est.)
note: this is the European Central Bank's rate on the marginal lending facility, which offers overnight credit to banks in the euro area
country comparison to the world: 136
Commercial bank prime lending rate:
1.8% (31 December 2017 est.)
1.6% (31 December 2016 est.)
country comparison to the world: 179
Stock of narrow money:
$2.312 trillion (31 December 2017 est.)
$2.016 trillion (31 December 2016 est.)
note: see entry for the European Union for money supply for the entire euro area; the European Central Bank (ECB) controls monetary policy for the 18 members of the Economic and Monetary Union (EMU); individual members of the EMU do not control the quantity of money circulating within their own borders
country comparison to the world: 5
Stock of broad money:
$3.282 trillion (31 December 2017 est.)
$2.908 trillion (31 December 2016 est.)
country comparison to the world: 5
Stock of domestic credit:
$4.766 trillion (31 December 2017 est.)
$4.433 trillion (31 December 2016 est.)
country comparison to the world: 5
Market value of publicly traded shares:
$1.716 trillion (31 December 2015 est.)
$1.739 trillion (31 December 2014 est.)
$1.936 trillion (31 December 2013 est.)
country comparison to the world: 7
Current account balance:
$296 billion (2017 est.)
$290.4 billion (2016 est.)
country comparison to the world: 2
Exports:
$1.401 trillion (2017 est.)
$1.322 trillion (2016 est.)
country comparison to the world: 4
Exports - commodities:
motor vehicles, machinery, chemicals, computer and electronic products, electrical equipment, pharmaceuticals, metals, transport equipment, foodstuffs, textiles, rubber and plastic products
Exports - partners:
US 8.9%, France 8.4%, UK 7.1%, Netherlands 6.5%, China 6.4%, Italy 5.1%, Austria 5%, Poland 4.5%, Switzerland 4.2% (2016)
Imports:
$1.104 trillion (2017 est.)
$1.022 trillion (2016 est.)
country comparison to the world: 4
Imports - commodities:
machinery, data processing equipment, vehicles, chemicals, oil and gas, metals, electric equipment, pharmaceuticals, foodstuffs, agricultural products
Imports - partners:
Netherlands 13.3%, China 7.3%, France 7.3%, Belgium 6.1%, Italy 5.5%, Poland 5.2%, Czech Republic 4.7%, US 4.6%, Switzerland 4.4%, Austria 4.4%, UK 4.1% (2016)
Reserves of foreign exchange and gold:
$185.3 billion (31 December 2016 est.)
$173.7 billion (31 December 2015 est.)
country comparison to the world: 15
Debt - external:
$5.326 trillion (31 March 2016 est.)
$5.21 trillion (31 March 2015 est.)
country comparison to the world: 5
Stock of direct foreign investment - at home:
$1.455 trillion (31 December 2017 est.)
$1.391 trillion (31 December 2016 est.)
country comparison to the world: 8
Stock of direct foreign investment - abroad:
$2.074 trillion (31 December 2017 est.)
$1.981 trillion (31 December 2016 est.)
country comparison to the world: 4
Exchange rates:
euros (EUR) per US dollar -
0.89 (2017 est.)
0.9 (2016 est.)
0.92 (2015 est.)
0.89 (2014 est.)
0.76 (2013 est.)
Energy
Electricity access:
electrification - total population: 100% (2016)
Electricity - production:
588.5 billion kWh (2015 est.)
country comparison to the world: 8
Electricity - consumption:
514.6 billion kWh (2015 est.)
country comparison to the world: 8
Electricity - exports:
78.86 billion kWh (2016 est.)
country comparison to the world: 2
Electricity - imports:
28.34 billion kWh (2016 est.)
country comparison to the world: 6
Electricity - installed generating capacity:
204.1 million kW (2015 est.)
country comparison to the world: 7
Electricity - from fossil fuels:
42.6% of total installed capacity (2015 est.)
country comparison to the world: 167
Electricity - from nuclear fuels:
5.3% of total installed capacity (2015 est.)
country comparison to the world: 23
Electricity - from hydroelectric plants:
2.2% of total installed capacity (2015 est.)
country comparison to the world: 136
Electricity - from other renewable sources:
49.9% of total installed capacity (2015 est.)
country comparison to the world: 3
Crude oil - production:
46,590 bbl/day (2016 est.)
country comparison to the world: 58
Crude oil - exports:
1,987 bbl/day (2016 est.)
country comparison to the world: 68
Crude oil - imports:
1.837 million bbl/day (2016 est.)
country comparison to the world: 6
Crude oil - proved reserves:
145.4 million bbl (1 January 2017 est.)
country comparison to the world: 66
Refined petroleum products - production:
2.198 million bbl/day (2016 est.)
country comparison to the world: 10
Refined petroleum products - consumption:
2.41 million bbl/day (2016 est.)
country comparison to the world: 10
Refined petroleum products - exports:
474,300 bbl/day (2016 est.)
country comparison to the world: 17
Refined petroleum products - imports:
800,500 bbl/day (2016 est.)
country comparison to the world: 10
Natural gas - production:
8.73 billion cu m (2015 est.)
country comparison to the world: 44
Natural gas - consumption:
773.2 billion cu m (2015 est.)
country comparison to the world: 2
Natural gas - exports:
32.51 billion cu m (2015 est.)
country comparison to the world: 12
Natural gas - imports:
102.5 billion cu m (2015 est.)
country comparison to the world: 3
Natural gas - proved reserves:
41.99 billion cu m (1 January 2017 est.)
country comparison to the world: 67
Carbon dioxide emissions from consumption of energy:
744 million Mt (2015 est.)
country comparison to the world: 7
Communications
Telephones - fixed lines:
total subscriptions: 44.1 million
subscriptions per 100 inhabitants: 55 (July 2016 est.)
country comparison to the world: 5
Telephones - mobile cellular:
total: 103.47 million
subscriptions per 100 inhabitants: 128 (July 2016 est.)
country comparison to the world: 16
Telephone system:
general assessment: one of the world's most technologically advanced telecommunications systems; as a result of intensive capital expenditures since reunification, the formerly backward system of the eastern part of the country, dating back to World War II, has been modernized and integrated with that of the western part
domestic: extensive system of automatic telephone exchanges connected by modern networks of fiber-optic cable, coaxial cable, microwave radio relay, and a domestic satellite system; cellular telephone service is widely available, expanding rapidly, and includes roaming service to many foreign countries
international: country code - 49; Germany's international service is excellent worldwide, consisting of extensive land and undersea cable facilities as well as earth stations in the Inmarsat, Intelsat, Eutelsat, and Intersputnik satellite systems (2015)
Broadcast media:
a mixture of publicly operated and privately owned TV and radio stations; 70 national and regional public broadcasters compete with nearly 400 privately owned national and regional TV stations; more than 90% of households have cable or satellite TV; hundreds of radio stations including multiple national radio networks, regional radio networks, and a large number of local radio stations (2016)
Internet country code:
.de
Internet users:
total: 72,365,643
percent of population: 89.6% (July 2016 est.)
country comparison to the world: 9
Transportation
National air transport system:
number of registered air carriers: 20
inventory of registered aircraft operated by air carriers: 1,113
annual passenger traffic on registered air carriers: 115,540,886
annual freight traffic on registered air carriers: 6,985,007,915 mt-km (2015)
Civil aircraft registration country code prefix:
D (2016)
Airports:
539 (2013)
country comparison to the world: 13
Airports - with paved runways:
total: 318
over 3,047 m: 14
2,438 to 3,047 m: 49
1,524 to 2,437 m: 60
914 to 1,523 m: 70
under 914 m: 125 (2017)
Airports - with unpaved runways:
total: 221
1,524 to 2,437 m: 1
914 to 1,523 m: 35
under 914 m: 185 (2013)
Heliports:
23 (2013)
Pipelines:
condensate 37 km; gas 26,985 km; oil 2,826 km; refined products 4,479 km; water 8 km (2013)
Railways:
total: 33,590 km
standard gauge: 33,331 km 1.435-m gauge (19,973 km electrified)
narrow gauge: 220 km 1.000-m gauge (79 km electrified); 15 km 0.900-m gauge; 24 km 0.750-m gauge (2015)
country comparison to the world: 6
Roadways:
total: 645,000 km
paved: 645,000 km (includes 12,800 km of expressways)
note: includes local roads (2010)
country comparison to the world: 12
Waterways:
7,467 km (Rhine River carries most goods; Main-Danube Canal links North Sea and Black Sea) (2012)
country comparison to the world: 18
Merchant marine:
total: 614
by type: bulk carrier 1, container ship 117, general cargo 87, oil tanker 34, other 375 (2017)
country comparison to the world: 35
Ports and terminals:
major seaport(s): Baltic Sea - Rostock; North Sea - Wilhelmshaven
river port(s): Bremen (Weser); Bremerhaven (Geeste); Duisburg, Karlsruhe, Neuss-Dusseldorf (Rhine); Brunsbuttel, Hamburg (Elbe); Lubeck (Wakenitz)
oil terminal(s): Brunsbuttel Canal terminals
container port(s): Bremen/Bremerhaven (5,547,000), Hamburg (8,821,000) (2015)
LNG terminal(s) (import): Hamburg
Military & Security
Military expenditures:
1.2% of GDP (2016)
1.18% of GDP (2015)
1.18% of GDP (2014)
1.22% of GDP (2013)
1.24% of GDP (2017)
country comparison to the world: 98
Military branches:
Federal Armed Forces (Bundeswehr): Army (Heer), Navy (Deutsche Marine, includes naval air arm), Air Force (Luftwaffe), Joint Support Service (Streitkraeftebasis, SKB), Central Medical Service (Zentraler Sanitaetsdienst, ZSanDstBw), Cyber and Information Space Command (Kommando Cyber- und Informationsraum, Kdo CIR) (2017)
Military service age and obligation:
17-23 years of age for male and female voluntary military service; conscription ended 1 July 2011; service obligation 8-23 months or 12 years; women have been eligible for voluntary service in all military branches and positions since 2001 (2013)
Transnational Issues
Disputes - international:
none
Refugees and internally displaced persons:
refugees (country of origin): 375,122 (Syria); 86,045 (Iraq); 46,292 (Afghanistan); 30,020 (Eritrea); 22,910 (Iran); 19,136 (Turkey); 9,189 (Serbia and Kosovo); 7,879 (Somalia); 5,255 (Russia); 5,169 (Pakistan) (2016); 10,305 (Ukraine) (2017) note: estimate represents asylum applicants since Ukraine crisis began in 2014 until September 2017
stateless persons: 12,017 (2016)
Illicit drugs:
source of precursor chemicals for South American cocaine processors; transshipment point for and consumer of Southwest Asian heroin, Latin American cocaine, and European-produced synthetic drugs; major financial center
