Germany

CHITRA AGIZKA ELMABELNOVA DESAK MADE LAKSMI DEVI 041113089 041113100

Germanys Economy
Germany is the largest national economy

in Europe. The fourth-largest by nominal GDP in the world, and fifth by GDP (PPP) in 2008. Germany is the world's second largest exporter with $1.474 trillion, 1.06 trillion exported in 2011. Exports account for more than one-third of national output. Germany has a social market economy with a highly qualified labor force, a large capital stock, a low level of corruption, and a high level of innovation.

 Germany is a founding member of the EU, the G8

and the G20. Germany was the world's largest exporter from 2003 to 2008. In 2009 it remained the second largest exporter and third largest importer of goods. Most of the country's exports are in engineering, especially machinery, automobiles, chemical goods and metals. Germany is a leading producer of wind turbines and solarpower technology. Annual trade fairs and congresses are held in cities throughout Germany.

 Of the world's 500 largest stock

Other large German companies

market listed companies measured by revenue, 37 are headquartered in Germany. In 2010 the ten largest were

include:

Volkswagen Allianz E.ON Daimler Siemens Metro Deutsche Telekom Munich Re BASF BMW

Robert Bosch ThyssenKrupp MAN Bayer Merck Adidas Puma Commerzbank Deutsche Bank Hugo Boss Mercedes Benz Audi Porsche DHL T-Mobile Nivea

Chronology
1800 : Heavily rural, with some urban trade centers. 19th century: Began a stage of rapid economic growth and

modernization, led by heavy industry. 1900 : had the largest economy in Europe, a factor that played a major role in its entry into World War I and World War II. 1913: American and German exports dominated the world steel market, as Britain slipped to third place. Early 1920s: The WWI and the treaty were followed by the Hyper-inflation of the that wreaked havoc on Germany's social structure and political stability. Late 1929:The Great Depression struck Germany hard. 1932: Germany had paid about one-eighth of its war reparations when were suspended in 1932 by the Lausanne Conference 1933-45: the economy developed a hothouse prosperity, supported with high government subsidies to those sectors

 21 June 1948: the abolition of the Reichsmark and the

creation of a new currency, the Deutsche Mark. After 1950: overtook Britain in comparative productivity levels for the whole economy, primarily as a result of trends in services rather than trends in industry. 1953 : it was decided that Germany was to repay $1.1 billion of the aid for the world war allies it had received. The last repayment was made in June 1971. Early 1950s : the Soviet Union had seized reparations in the form of agricultural and industrial products and demanded further heavy reparation payments from the German. Hard work and long hours at full capacity among the population in the 1950s, 1960s and early 1970s and extra labor supplied by thousands of Gastarbeiter ("guest workers") provided a vital base for the economic upturn. 1976 : the average annual GDP growth was roughly 5.9%. 1988 :Exports from West Germany exceeded $323 billion in. In the same year, East Germany exported $30.7 billion worth of goods; 65% to other communist states. East

 2000 : The German economy practically stagnated in

the beginning of this year. The worst growth figures were achieved in 2002 (+1.4%), in 2003 (+1.0%) and in 2005 (+1.4%). 2008 : The nominal GDP of Germany contracted in the second and third quarters, putting the country in a technical recession following a global and European recession cycle. German industrial output dropped to 3.6% in September vis-a-vis August. January 2009 : the German government under Angela Merkel approved a 50 billion ($70 billion) economic stimulus plan to protect several sectors from a downturn and a subsequent rise in unemployment rates 2009 : Germany exited the recession in the second and third quarters of this year, mostly due to rebounding manufacturing orders and exports primarily from outside the Euro Zone - and relatively steady consumer demand 2011 : a record-breaking year for the German economy. German companies exported goods worth

Roles in the EU
As the founder along with Belgium, France, Italy,

Luxembourg, the Netherlands The largest net contributor (Absolute method)

Solution
Keep up the good work ;)

Do structural reform to reduce unemployment

Reinforce its innovation system

Danke