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BUSINESS & INNOVATION
TOPIC
GLOBAL PLAYER
Germany is an industrialised nation with
transaction. Almost one job in four is de-
strong international links and a pronounced
pendent on exports; in industry it is even
export focus. In the annual World Trade Or-
one in two. Around 800,000 companies en-
ganization (WTO) rankings, Germany regu-
gage in foreign trade. In 2014, 685,000 corpor-
larly places among the three largest exporters
ations imported goods from other countries,
behind China and the USA. In 2014, the for-
while approximately 340,000 were busy as
eign trade balance closed with a surplus of
exporters. Some 10,700 firms domiciled
190 billion euros, a new record. Exports by
outside Germany played a significant role in
German companies (goods and services) in-
German foreign trade; the Association of
creased to 1,326 billion euros, with the value
German Chambers of Commerce and In-
of imports totalling 1,136 billion euros. With
dustry (DIHK) estimates that more than
the global economy if anything posting low
7 million employees work for German com-
overall growth in 2013-4, the German eco-
panies abroad.
nomy performed well. Compared with other
countries, Germany is benefitting most from
In terms of exports, the emphasis is on
globalisation. The McKinsey Global Institute
motor vehicles and automotive compo-
“Country Connectedness Index 2014“ lists
nents, machines, chemical products, and IT
Germany as the best-networked country
appliances and electronic products. These
worldwide – ahead of the USA and Singapore.
four product groups account for a good half
of German exports. Overall, the export ratio
Every second euro earned in Germany is
has since 1991 almost doubled, rising from
generated through an international business
25.7 percent to 50.6 percent. In 2013 the
Economic leadership
German companies have an
excellent international reputation. They stand for “Made in
Germany”, a quality seal held
in high esteem worldwide.
The world’s fourth-largest
economic power, Germany has
a pronounced export focus.
Gross domestic product (GDP) 2014 (in US$ billion)
17,418.9
10,380.4
4,616.3 3,859.6
2,945.2
USA
China
Japan
Germany
United
Kingdom
Source: German Federal Statistical Office
DIAGRAM