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| Germany |
| Economic
Overview |
| Key
Economic Indicators |
|
1991 |
1992 |
1993 |
1994 |
1995 |
| Interest rate %
(lending) |
12.46 |
13.59 |
12.85 |
11.48 |
10.94 |
| Interest rate %
(deposit) |
7.62 |
8.01 |
6.27 |
4.47 |
3.85 |
| Consumer prices
(% charge over previous year) |
4.3 |
3.7 |
2.7 |
4.1 |
5.4 |
| Balance
of
Payments |
|
|
|
|
|
| Export of Goods
(US bn) |
03.71 |
430.62 |
382.15 |
429.53 |
511.53 |
| Import of Goods
(Deposit) |
385.24 |
403.78 |
341.48 |
379.78 |
445.52 |
| Trade Balance |
18.47 |
26.84 |
40.67 |
49.75 |
66.01 |
| Services - Credit |
63.81 |
67.21 |
62.26 |
63.02 |
76.52 |
| Services - Debit |
81.04 |
94.79 |
93.65 |
100.98 |
120.44 |
| Balance on goods
and services |
1.24 |
-75.0 |
9.98 |
11.79 |
22.10 |
| Income - Credit |
71.95 |
78.19 |
76.18 |
76.54 |
95.65 |
| Income - Debit |
53.64 |
63.78 |
65.29 |
71.69 |
96.97 |
| Balance on goods,
services and income |
19.55 |
13.67 |
20.16 |
16.65 |
20.77 |
| Current transfers
Credit |
16.64 |
19.36 |
18.09 |
20.50 |
24.52 |
| Current transfers
Debit |
54.96 |
54.53 |
53.33 |
58.58 |
65.06 |
| Current account |
-18.77 |
-21.51 |
-15.08 |
-21.42 |
-19.77 |
| Capital account
Credit |
0.78 |
1.12 |
1.38 |
1.56 |
1.68 |
| Capital account
Debit |
1.44 |
0.52 |
0.89 |
1.42 |
2.33 |
| Capital account |
-0.66 |
0.60 |
0.49 |
0.15 |
-0.65 |
| Direct Investment
abroad |
23.72 |
19.67 |
15.28 |
16.69 |
34.89 |
| Direct Investment
in FRG |
4.07 |
2.64 |
1.82 |
0.81 |
8.94 |
| Portfolio investment
abroad |
17.19 |
48.06 |
32.73 |
55.27 |
30.26 |
| Portfolio investment
liabilities |
42.79 |
80.00 |
152.14 |
22.10 |
56.99 |
| Other investment
assets |
23.89 |
7.29 |
131.42 |
0.85 |
63.80 |
| Other investment
liabilities |
23.98 |
44.57 |
41.27 |
75.74 |
96.20 |
| Financial account |
5.43 |
52.19 |
15.80 |
25.84 |
32.18 |
| Net errors and omissions |
8.02 |
5.90 |
-15.41 |
-6.60 |
-5.54 |
| Overall balance |
-5.98 |
37.18 |
-14.20 |
-2.04 |
7.22 |
| Gross domestic product
DM.bn |
2647.6 |
2813.0 |
2853.7 |
2977.7 |
- |
| Gross national product |
2668.6 |
819.8 |
2842.8 |
2945.3 |
- |
| GDP at 1990 prices |
2548.6 |
593.5 |
2549.5 |
2608.3 |
- |
| GDP deflator (1990-100) |
103.9 |
108.5 |
111.9 |
114.2 |
- |
| |
| Break
down of Gross Domestic Product – 1995 |
| (DM
3,459.6 BN = 100%) |
| Services |
36.1% |
| Manufacturing
Industry |
34.7%
|
|
Governments, Households |
14.3%
|
| Trade
and Transport |
13.8%
|
| Agriculture,
forestry, fisheries |
1.1% |
| |
100.0%
====== |
|
| |
| Use
of Gross Domestic Product – 1995 |
| (DM
3,459.6 BN = 100%) |
| Private
consumption |
56.8% |
|
Gross Capital Investment |
22.6% |
|
Government consumption |
19.6%
|
External
contribution
(Exports – Imports) |
1.0%
|
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| Economic
Affairs |
General
The Federal Republic of Germany is one of the major industrial
countries. In terms of overall economic performance, it is the
third largest and with regard to world trade, it holds second
place.
In 1995 the gross domestic product
(GDP) came to a record DM 3,083.5 bn in the western part of
the country, a per capita amounting to DM 45,200. GDP has doubled
in the past 25 years, and in 40 years it has increased even
fivefold. As expressed in 1991 prices, that is a growth from
DM 426.7 billion in 1950 to DM 2,750.1 billion in 1995.
Industry
Industry is the main sector of economy in Germany. In 1995,
approximately 48,000 industrial enterprises in Germany employed
close to 6.8 million people, more than any other sectors of
the economy. However, industry’s importance has declined
considerably on a result of structural economic sector falling
from 51.7 percent in 1995 (Germany as a whole).
Major Sectors of Industry
The automatic industry is the most important sector to the Germany
economy. At the end of 1995 it employed 667,000 employees, with
an annual turnover of DM 260 billion. Germany is the world’s
third largest producer of automobiles after the United States
and Japan. In 1995, 4.7 million motor vehicles were manufactured
and about 57% were exported.
Mechanical engineering sector has the largest
number of factories. Germany is among the world’s leaders
in this field. Nearly 7000 production facilities are engaged
in the mechanical engineering sector. These are the firms which
mass produce or design and manufacture large complex facilities.
Just 90 percent of the companies engaged in mechanical engineering
and small or medium sized with fewer than 300 employees. In
1995 this branch of industry with a total work force of 1,064,000
was the largest in any branch of German Industry, produced a
turnover of about DM 253 billion. 43% of this produced were
exported. This means that the FRG accounted for one fifth (1/5)
of total exports of machinery among the western industrial countries.
The chemical industry is the most important branch of the basic
materials and production goods industry in Germany. It is state-of-the-art
technology and emphasis on research that has placed it among
the world’s leaders. The total workforce is about 538.000
and turnover in 1995 was about DM 180 billion. About 56% of
the industry’s output was exported.
The electrical engineering and electronics industry, with a
turnover of DM 222 billion and about 910,000 employees is one
of the main branches of the German industry. The
textile and clothing industry still plays a significant role,
employing 256,000 and generating a turnover of DM 55.4 billion
in 1995.
International Co-operation
Germany plays an active part in international organizations
such as NATO (North Atlantic Treaty Organization), UN (United
Nations) and EU (European Union).
Co-operation with Developing Countries
Germany is one of the biggest donors of the assistance provided
within the framework of development co-operation. At the beginning
of 1994, it had economic co-operation partnership agreements
with 178 countries.
Being a leading export nation, the Federal Republic of
Germany has an interest in the economic progress of developing
countries. It considers itself to have a special responsibility
to help liberalize international trade. |
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