Germany's affluent and technologically powerful economy - the fifth largest in the world - has become one of the slowest growing economies in the euro zone. A quick turnaround is not in the offing in the foreseeable future. Growth in 2001-03 fell short of 1%, rising to 1.7% in 2004 before falling back to 0.9% in 2005. The modernization and integration of the eastern German economy continues to be a costly long-term process, with annual transfers from west to east amounting to roughly $70 billion. Germany's aging population, combined with high unemployment, has pushed social security outlays to a level exceeding contributions from workers. In the short run, however, the fall in government revenues and the rise in expenditures will lead to the fact that the debt upper limit of the EU for the euro-lands of 3% cannot be kept..

Please use current Creditreform analyses to economic and market research in order to receive detailed information about the German economic situation:

• GDP - composition by sector (2005 est.): ¹⁾
  - agriculture:  1.1%
  - industry:  28.6%
  - services: 70.3%

• Agricultural production: ¹⁾
  potatoes, wheat, barley, sugar beets, fruit, cabbages; cattle, pigs, poultry

• Industries: ¹⁾
  among the world's largest and most technologically advanced producers of iron, steel, coal, cement, chemicals, machinery, vehicles, machine tool, electronics, food and beverages; shipbuilding; textiles

Origin of imports (2004 est.): ¹⁾

Destinations of exports (2004 est.): ¹⁾

Sources of information:
¹⁾ CIA Worldfactbook - updated on 29 June, 2006
Verband der Vereine Creditreform e.V.

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