Germany is a part of the European Union and is regarded as a superpower within the Union.
It has the 4th largest GDP of $3.859 trillion.
The GDP growth is 1.6% on an average. Per capita nominal GDP is $48,226. Services is the major contribution to the GDP at 70%. The sector employs 67.5% of the workforce. The major contributors to services are financial services, renting, business activities, general trade, hospitality and transport. Industry is the second highest contributor to GDP at 29.1%. Agriculture comprises just 0.9% of the country’s output. The labour force division by occupation is agriculture 2.4%, industry 29.7%, services 67,8%. Unemployment rate in the country is at 4.8%. The chief industries of Germany are coal, cement, iron, steel, chemicals, plastics, mineral fuels, machinery, train manufacturing, ship building, space crafts and aircrafts, machine tools, IT services, electronics, vehicles, pharmaceuticals, food and beverage and textiles. Germany is a major exporter of motor vehicles, machinery, computer and electronic products, chemicals, electrical equipment, pharmaceuticals, metals, foodstuffs, textiles, rubber and plastic products and transport equipment. Exports account for 41% of the national output. 50 of the world’s Fortune 500 companies are situated in Germany. Germany is a very popular location for trade fairs. Around two thirds of the world’s leading trade fairs happen in Germany. Cities like Hanover, Munich, Berlin are popular destinations for trade fairs. Germany is the richest country in Europe, and the second richest country in the world after the United States of America. It also had a mojor role to play during the recent Greece crisis.