Concept

Economy of Germany

Summary
The economy of Germany is a highly developed social market economy. It has the largest national economy in Europe, the fourth-largest by nominal GDP in the world (almost tied with Japan), and fifth by GDP (PPP). Due to a volatile currency exchange rate, Germany's GDP as measured in dollars fluctuates sharply. In 2017, the country accounted for 28% of the euro area economy according to the International Monetary Fund (IMF). Germany is a founding member of the European Union and the Eurozone. In 2016, Germany recorded the highest trade surplus in the world, worth 310billion.Thiseconomicresultmadeitthebiggestcapitalexporterglobally.Germanyisoneofthelargestexportersgloballywith310 billion. This economic result made it the biggest capital exporter globally. Germany is one of the largest exporters globally with 1810.93 billion worth of goods and services exported in 2019. The service sector contributes around 70% of the total GDP, industry 29.1%, and agriculture 0.9%. Exports accounted for 41% of national output. The top 10 exports of Germany are vehicles, machinery, chemical goods, electronic prod
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