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BUSINESS & INNOVATION
TOPIC
LEAD MARKETS AND INNOVATIVE PRODUCTS
Germany’s economic prowess is decidedly
eering industry, with global player Siemens
based on its industrial performance and its
active in 190 countries. Its application solu-
capacity for innovation. With 775,000 jobs,
tions, from medical technology to renewable
the automotive industry in particular is re-
energies, are regarded as highly innovative.
garded as a showcase discipline with regard
The fact that the major sectors of industry
to the Made in Germany seal of quality. With
achieve export ratios of 60 percent and more
its six strong brands, namely Volkswagen,
indicates just how important the global
BMW, Daimler, and the VW-owned marques
market is for them.
Audi and Porsche, as well as Opel (General
Motors), the automotive industry is one of
The most important economic centres in
the forces driving the global mobility sector.
Germany are the Ruhr Area, Greater
Munich and Greater Stuttgart (high-tech,
The companies invest billions in research
automotive construction), Rhine-Neckar
and development (R&D) to shore up their
(chemicals, IT), Frankfurt am Main (fi-
competitive edge. Electronic and digital
nance), Cologne (media) and Hamburg
networking, as well as assisted or self-driv-
(port, aircraft construction). In east Germa-
ing cars, are the megatrends for automo-
ny, small but efficient high-tech centres
biles. In global terms, in 2014 the German
have emerged, in particular in the “beacon
carmakers, which have a major share in the
regions” of Dresden, Jena, Leipzig, Leuna,
middle and luxury car segments, produced
and Berlin-Brandenburg.
some 14.9 million cars, and the German automotive industry’s export ratio is in excess
Automotive groups head and dominate the
of 77 percent.
list of the biggest German companies (by
2014 sales): Volkswagen comes first, with
Alongside the automotive industry, plant
Daimler and BMW following in second and
and mechanical engineering and the chem-
fourth place respectively. Eon (energy) is in
ical industry are traditionally strong pillars
third place, BASF (chemicals) sixth, and
of the German economy. Founded in 1865
Siemens (electrotechnology) seventh. Retail
and headquartered in Ludwigshafen, BASF,
groups place fifth, eighth and ninth, while
which has a payroll of 113,000 employees
Deutsche Telekom places tenth.
working at 390 production sites in more
than 80 countries, is the world’s largest
Industry in Germany specialises in the
chemicals company. Key sectors also in-
development and manufacture of complex
clude the electrical and electronic engin-
goods, in particular capital goods and