64 | 65 BUSINESS & INNOVATION foreign trade ratio, i.e., the sum total of imports and exports in relation to the gross domestic product (GDP), stood at 89 percent. This makes Germany’s economy the “most open” of the G7 countries. By way of comparison, in 2013 the USA had a foreign trade ratio of 30 percent. The partner countries in the European Union (EU) are the most important market for German goods and attract 58 percent of all exports. France is traditionally Germany’s largest export market, though in the first six months of 2015 the USA headed the list GLOBAL OECD Economic Outlook Twice a year in its Economic Outlook, the Organisation for Economic Co-operation and Development (OECD) analyses the most important trends and the prospects for the next two years in the34 OECD member countries and emerging nations. The overall assumption for 2015-6 is that growth in the global economy will gain in momentum, but will be restrained in comparison with pre-crisis days. → oecd.org for the first time, followed by Great Britain, the People’s Republic of China and the Netherlands. With regard to imports, however, the rankings run the other way round: In 2014 most imports came from the Neth- Germany the seventh largest destination erlands, followed by the People’s Republic for investments. of China, France, the USA, and Italy. Although in some cases growth rates are The trade-fair industry is regarded as the weakening, nevertheless economic and hub of world trade. Germany is the leading trade relations with Asian countries are be- trade fair centre when it comes to organis- coming ever more important and today ing and staging international trade fairs. 5,000 German companies have investments Two thirds of globally important industry in China alone. events are held in Germany. Every year, 10 million visitors attend around 150 inter- German direct investments abroad, which national trade fairs and exhibitions. since 1990 have increased fivefold to 919 billion euros (2013), are an expression of its At the same time Germany is a tranship- strong links within the global economy. ment hub for the flow of goods in Europe A third of the total was invested in Euro- and the world as a whole. More goods tran- land. Conversely, through their stake in sit through Germany than through any local companies, foreign investors are re- other EU country. About a third of the turn- sponsible for 3 million jobs in Germany, over in the ten most important logistics with the value of foreign direct investments markets in the EU is generated in Germany, standing at 458 billion euros. This makes with 3 million people involved in logistics.