Economy of Germany

Germany is considered to be a developed nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. As a developed nation, Germany is able to provide its citizens with social services like public education, healthcare, and law enforcement. Citizens of developed nations enjoy a high standard of living and longer life expectancies than citizens of developing nations. Each year, Germany exports around $1493 billion and imports roughly $1233 billion. 3.6% of population in the country are unemployed. The total number of unemployed people in Germany is 2,962,564. In Germany, 17% of the population lives below the poverty line. The percentage of citizens living below the poverty line in Germany is fairly high, but is not reason for complete concern with regard to investments. Potential financial backers should look at other economic markers, including GDP, urbanization rate, and strength of currency, before making any decisions regarding investments. Government expenditure on education is 4.5% of GDP. The Gini Index of the country is 27. Germany is experiencing high equality. Differences in income among citizens are only mildly significant. Germany has a Human Development Index (HDI) of 0.911. Germany has a very high HDI score. This indicates that nearly all citizens are able to attain a desirable life because of social and economic support; citizens with a low standard of living receive aid and support and have the opportunity to advance in society. The Global Peace Index (GPI) for Germany is 1.379. Due to strong law enforcement presence and high social responsibility, Germany is very safe by international standards. The strength of legal rights index for Germany is 6. Overall, it is considered to be rather adequate - bancrupcy and collateral laws are able to protect the rights of borrowers and lenders at least decently; credit information is msotly sufficient and generally available.

Currency

The currency of Germany is euro. There are several plural forms of the name 'euro'. These are euro, euros. The symbol used for this currency is €, and it is abbreviated as EUR. The euro is divided into Cent; there are 100 in one euro.

Credit rating

The depth of credit information index for Germany is 8, which means that information is mostly sufficient and quite detailed; accessibility is not a problem. According to the S&P credit-rating agency, Germany has a credit rating score of AAA, and the prospects of this rating are stable. According to the Fitch credit-rating agency, Germany has a credit rating score of AAA, and the prospects of this rating are stable. According to the Moody's credit-rating agency, Germany has a credit rating score of Aaa, and the prospects of this rating are stable.

Central bank

In Germany, the institution that manages the state's currency, money supply, and interest rates is called German Federal Bank. Locally, the central bank of Germany is called Deutsche Bundesbank. The average deposit interest rate offered by local banks in Germany is 2.65%.

Public debt

Germany has a government debt of 26% of the country's Gross Domestic Product (GDP), as assessed in 2013.

Tax information

The corporate tax in Germany is set at 30%. Personal income tax ranges from 14% to 45%, depending on your specific situation and income level. VAT in Germany is 19%.

Finances

The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Germany is $3748094 billion. The Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) per capita in Germany was last recorded at $46 million. PPP in Germany is considered to be below average when compared to other countries. Below average PPP indicates that citizens in this country find it difficult to purchase local goods. Local goods can include food, shelter, clothing, health care, personal care, essential furnishings, transportation and communication, laundry, and various types of insurance. Countries with below average PPP are dangerous locations for investments. The total Gross Domestic Product (GDP) in Germany is 3,730,261 billion. Based on this statistic, Germany is considered to have a large economy. Countries with large economies support a wide variety of industries and businesses, providing ample opportunities for investment. Large economies support a substantial financial sector, making it easy to organize investments and financial transactions. It should be very easy to find good opportunities for investment in Germany. The Gross Domestic Product (GDP) per capita in Germany was last recorded at $45 million. The average citizen in Germany has low wealth. Countries with low wealth per capita often have slightly lower life expectancies and lower quality of living among citizens. It can be difficult to find highly skilled workers in countries with low wealth, as it is occasionally difficult for citizens to obtain the requisite education needed for specialized industries. Labor can be found for low rates when compared with countries with higher wealth per capita. GDP Annual Growth Rate in Germany averaged 1.4% in 2014. According to this percentage, Germany is currently experiencing modest growth. Countries that are experiencing modest growth offer safe opportunities for investment; their expanding economy indicates that businesses, jobs, and income will expand accordingly. To read more about financial information click on finances of Germany.

Industry

Major industries in the country are among the world's largest and most technologically advanced producers of iron, steel, coal, cement, chemicals, machinery, vehicles, machine tools, electronics, automobiles, food and beverages, shipbuilding, textiles. The total labor force of Germany is 43,319,180 people, wherein 3.6% of population in the country are unemployed. The total number of unemployed people in Germany is 2,962,564. The Industrial Production growth rate of Germany is 9%.To read more about industrial information within Germany click on industry of Germany.

Agriculture

There are 115698 km² of arable land in Germany, and it comprises 32% of the country's total territory. There are 117793 km² of cultivated land in Germany. The country's major agricultural crops and products are potatoes, wheat, barley, sugar beets, fruit, cabbages, cattle, pigs, poultry.To read more about agriculture click on agriculture of Germany.