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CompareEconomy.com Comparison of world economies

Germany

World Rank 5 16.43 Germany flag svg
Capital
Area
Currency
Berlin
357,022 km 2
Euro (EUR)

Table of Contents

Introduction

The most powerful country in Europe and the most populated one. The Germans have always been a great power, and their story started more than 2000 years ago. The name itself comes from the Latin Germania. However, it is important to notice that the German term, Deutschland, literally means the German lands and comes from the original “diutisciu land”.

In terms of government, Germany is considered to be a federal republic with parliamentary, representative democratic features. It means that in spite of having a president, the most important person in the nation is a chancellor that is the head of all 16 states.

Economy

Economy is Germany is the largest in Europe. The GDP value with PPP taken into consideration is around $4.7 trillion in accordance with data from 2019. As a result, it gives Germany 5th place in the general ranking of GDP (PPP) around the world - just behind Japan, India, The United States and China.

It is worth remembering that the German economy accounts for approximately 23% of the entire GDP of the European Union. Unfortunately, the growth of GDP in the last recorded year was very low, because it was only an increase of 0.5% when compared to 2018.

In terms of citizen wealthiness, Germans are very high with the value of around $56,000. However, there are several nations in the EU that can boast with higher GDP per capita value.

Two crucial aspects of Germany's economy are imports and exports of services and goods. Germany exports approximately $1.8 trillion, which is almost 24% of the entire European export. It is also 46% of Germany's entire GDP. Though they export quite a lot, they are also in need of many other goods and services, and as a result their import is at round $1.6 trillion, roughly 41% of their GDP.

Population

Germany is the largest nation in terms of population in Europe. There are more than 83 million citizens in there, according to data provided by World Data in 2019. It means that 18% of the entire European population are the Germans. Interestingly, in spite of being the largest population in Europe, it is still a relatively low number, when compared to other nations around the world. They are only 18th in terms of population worldwide.

Gross domestic product (GDP, GDP PPP)

Gross domestic product (GDP)

  • Last
  • Historical chart
#4 (2021)
4,259,934,911,821 US$

List of countries by GDP

(United States of America (USA))

Gross domestic product growth rate

Gross domestic product per capita

Gross domestic product (PPP)

Gross domestic product (PPP) per capita

International trade (Export, Import)

External balance on goods and services

  • Last
  • Historical chart
#2 (2021)
226,557,454,616 US$

List of countries by external balance on goods and services

(China)

External balance on goods and services (% of GDP)

Exports of goods and services (current US$)

Exports of goods and services (% of GDP)

Imports of goods and services (current US$)

Imports of goods and services (% of GDP)

Employment by sector, Unemployment

Unemployment (% of total labor force)

  • Last
  • Historical chart
#143 (2021)
3.57 %

List of countries by unemployment

(South Africa)

Employment in agriculture (% of total employment)

Employment in industry (% of total employment)

Employment in services (% of total employment)

Vulnerable employment (% of total employment)