Germany is a prosperous, democratic country with a highly skilled labour force, a large capital stock, a low level of corruption, and a high level of innovation.
Being an innovation-driven economy, Germany is among the world's largest and technologically advanced
Germany is a prosperous, democratic country with a highly skilled labour force, a large capital stock, a low level of corruption, and a high level of innovation.
Being an innovation-driven economy, Germany is among the world's largest and technologically advanced producers of chemicals, machinery, vehicles, machine tools, electronics, automobiles, food and beverages, textiles.
The history of banking in Germany dates back to the 15th century. The oldest bank still operating in Germany, is Berenberg Bank, founded in 1590. Nowadays Germany has "three-pillar banking system" consisting of private banks, cooperative banks and public savings banks.
Germany joined the Euro Area on 1 January 1999.
|Nominal GDP (2016)||Nominal GDP per Capita (2016)||Real GDP Growth (2016)|
|3 132.7 bln EUR (+0.03%)||37 900 EUR (+0.02%)||1.9 % (2015: 1.7 %)|
According to Eurostat, nominal GDP of Germany in 2016 was 3 132.7 bln EUR.
Germany underperforms the European Union in terms of real GDP growth with the average annual differential coming to 0.0% over the past 10 years (2006 - 2016). In 2016 real GDP growth was 1.9% which was above the Euro Area average (1.8%) and equal to the European Union average (1.9%). Real GDP growth in 2017 - 2022 are IMF's estimates.
In 2016, nominal GDP per capita in Germany was 37 900 EUR.
Germany has an above-average level of wealth in terms of per-capita GDP at purchasing power parity (PPP); this economic welfare indicator has, on average, exceeded that of the European Union by 29.6% over the past 10 years (2006 - 2016). GDP per capita at PPP in 2017 - 2022 are IMF's estimates.
|CPI, MoM (Jun 2017)||CPI, YoY (Jun 2017)||CPI, Year Average (2016)|
|0.2 % (May 2017: -0.2 %)||1.5 % (May 2017: 1.4 %)||0.4 % (2015: 0.1 %)|
According to Eurostat, inflation rate in G