Economic indicators of Germany

By Alexandru Ionescu (918)

The German economy - the fifth largest economy in the world in PPP terms and Europe's
largest - is a leading exporter of machinery, vehicles, chemicals, and household equipment and
benefits from a highly skilled labor force. Like its Western European neighbors, Germany faces
significant demographic challenges to sustained long-term growth. Low fertility rates and
declining net immigration are increasing pressure on the country's social welfare system and
necessitate structural reforms. Reforms launched by the government of Chancellor Gerhard
SCHROEDER (1998-2005), deemed necessary to address chronically high unemployment and
low average growth, has contributed to strong growth and falling unemployment. These
advances, as well as a government subsidized, reduced working hour scheme, help explain the
relatively modest increase in unemployment during the 2008-09 recession - the deepest since
World War II - and its decrease to 5.3% in 2013. The new German government introduced a
minimum wage of $11 per hour to take effect in 2015. Stimulus and stabilization efforts initiated
in 2008 and 2009 and tax cuts introduced in Chancellor Angela MERKEL's second term
increased Germany's total budget deficit - including federal, state, and municipal - to 4.1% in
2010, but slower spending and higher tax revenues reduced the deficit to 0.8% in 2011 and in
2012 Germany reached a budget surplus of 0.1%. A constitutional amendment approved in 2009
limits the federal government to structural deficits of no more than 0.35% of GDP per annum as
of 2016 though the target was already reached in 2012. Following the March 2011 Fukushima
nuclear disaster, Chancellor Angela MERKEL announced in May 2011 that eight of the country's
17 nuclear reactors would be shut down immediately and the remaining plants would close by
2022. Germany hopes to replace nuclear power with renewable energy. Before the shutdown of
the eight reactors, Germany relied on nuclear power for 23% of its electricity generating capacity
and 46% of its base-load electricity production.

GDP (Constant Prices, National Currency) for Germany in year 2014 is EUR 2,517.45
Billion.
GDP Growth (Constant Prices, National Currency) for Germany in year 2014 is 1.393 %.
GDP (Current Prices, National Currency) for Germany in year 2014 is EUR 2,820.58
Billion.
GDP (Current Prices, US Dollars) for Germany in year 2014 is US$ 3,820.46 Billion.
GDP Deflator for Germany in year 2014 is 112.041 (Index, Base Year as per country's
accounts = 100).

GDP Per Capita (Constant Prices, National Currency) for Germany in year 2014 is EUR
31,102.56 .
GDP Per Capita (Current Prices, National Currency) for Germany in year 2014 is EUR
34,847.65 .
GDP Per Capita (Current Prices, US Dollars) for Germany in year 2014 is US$ 47,200.96
.
Output Gap, Percent of Potential GDP for Germany in year 2014 is -0.688 %.
GDP (PPP), US Dollars for Germany in year 2014 is US$ 3,621.36 Billion.
GDP Per Capita (PPP), US Dollars for Germany in year 2014 is US$ 44,741.03 .
GDP Share of World Total (PPP) for Germany in year 2014 is 3.385 %.
Implied PPP Conversion Rate for Germany in year 2014 is 0.779 .
Investment (% of GDP) for Germany in year 2014 is 17.701 %.
Gross National Savings (% of GDP) for Germany in year 2014 is 23.904 %.
Inflation, Average Consumer Prices (Indexed to Year 2000) for Germany in year 2014 is
116.35 (Index, Base Year 2000 = 100).
Inflation (Average Consumer Price Change %) for Germany in year 2014 is 0.896 %.
Inflation, End of Year (Indexed to Year 2000) for Germany in year 2014 is 116.939
(Index, Base Year 2000 = 100).
Inflation (End of Year Change %) for Germany in year 2014 is 0.896 %.
Import Volume of All Items Including Goods and Services (Percent Change) for Germany
in year 2014 is 4.78 %.
Import Volumes of Goods Only (Percent Change) for Germany in year 2014 is 6.028 %.
Export Volume of All Items Including Goods and Services (Percent Change) for Germany
in year 2014 is 3.991 %.
Export Volumes of Goods Only (Percent Change) for Germany in year 2014 is 3.728 %.
Unemployment Rate (% of Labour Force) for Germany in year 2014 is 5.27 %.
Employment for Germany in year 2014 is 40.702 Million .
Population for Germany in year 2014 is 80.94 Million .
General government revenue (National Currency) for Germany in year 2014 is EUR
1,253.68 Billions.
General government revenue (% of GDP) for Germany in year 2014 is 44.447 %.
General government total expenditure (National Currency) for Germany in year 2014 is
EUR 1,245.59 Billions.
General government total expenditure (% of GDP) for Germany in year 2014 is 44.161
%.
Total Government Net Lending/ Borrowing (National Currency) for Germany in year
2014 is EUR 8.092 Billions.
Total Government Net Lending/ Borrowing (% of GDP) for Germany in year 2014 is
0.287 %.
General Government Structural Balance (National Currency) for Germany in year 2014 is
EUR 15.582 Billion.

General Government Structural Balance (% Potential GDP) for Germany in year 2014 is
0.549 %.
Fiscal Year Gross Domestic Product, Current Prices for Germany in year 2014 is EUR
2,820.58 Billions.
Current Account Balance (US Dollars) for Germany in year 2014 is US$ 236.988 Billion.
Current Account Balance (% GDP) for Germany in year 2014 is 6.203 %.