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Germany

Germany Economy Stats

Overview:

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. The modernization and integration of the eastern German economy - where unemployment can exceed 20% in some municipalities - continues to be a costly long-term process, with annual transfers from west to east amounting in 2008 alone to roughly $12 billion. Reforms launched by the government of Chancellor Gerhard SCHROEDER (1998-2005), deemed necessary to address chronically high unemployment and low average growth, contributed to strong growth in 2006 and 2007 and falling unemployment, which in 2008 reached a new post-reunification low of 7.8%. 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 healthy decrease in 2010. GDP contracted nearly 5% in 2009 but grew by 3.3% in 2010. Germany crept out of recession thanks largely to rebounding manufacturing orders and exports - primarily outside the Euro Zone - and relatively steady consumer demand. Stimulus and stabilization efforts initiated in 2008 and 2009 and tax cuts introduced in Chancellor Angela MERKEL's second term increased Germany's budget deficit to 3.3% in 2009 and to 3.6% in 2010. The EU has given Germany until 2013 to get its consolidated budget deficit below 3% of GDP. A new constitutional amendment likewise limits the federal government to structural deficits of no more than 0.35% of GDP per annum as of 2016.

Definitions

  • Debt > External: Total public and private debt owed to non-residents repayable in foreign currency, goods, or services.
  • Debt > External per capita: Total public and private debt owed to non-residents repayable in foreign currency, goods, or services. Figures expressed per capita for the same year.
  • GDP: GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used.
  • GDP > Composition by sector > Agriculture: The gross domestic product (GDP) or value of all final goods produced by the agricultural sector within a nation in a given year. GDP dollar estimates in the Factbook are derived from purchasing power parity (PPP) calculations. See the CIA World Factbook for more information.
  • GDP > Composition by sector > Industry: The gross domestic product (GDP) or value of all final goods produced by the industrial sector within a nation in a given year. GDP dollar estimates in the Factbook are derived from purchasing power parity (PPP) calculations. See the CIA World Factbook for more information.
  • GDP > Composition by sector > Services: The gross domestic product (GDP) or value of all final services produced within a nation in a given year. GDP dollar estimates in the Factbook are derived from purchasing power parity (PPP) calculations. See the CIA World Factbook for more information.
  • GDP > Official exchange rate: This entry gives the gross domestic product (GDP) or value of all final goods and services produced within a nation in a given year. A nation's GDP at offical exchange rates (OER) is the home-currency-denominated annual GDP figure divided by the bilateral average US exchange rate with that country in that year. The measure is simple to compute and gives a precise measure of the value of output. Many economists prefer this measure when gauging the economic power an economy maintains vis-a-vis its neighbors, judging that an exchange rate captures the purchasing power a nation enjoys in the international marketplace. Official exchange rates, however, can be artifically fixed and/or subject to manipulation - resulting in claims of the country having an under- or over-valued currency - and are not necessarily the equivalent of a market-determined exchange rate. Moreover, even if the official exchange rate is market-determined, market exchange rates are frequently established by a relatively small set of goods and services (the ones the country trades) and may not capture the value of the larger set of goods the country produces. Furthermore, OER-converted GDP is not well suited to comparing domestic GDP over time, since appreciation/depreciation from one year to the next will make the OER GDP value rise/fall regardless of whether home-currency-denominated GDP changed.
  • GDP > Purchasing power parity: This entry gives the gross domestic product (GDP) or value of all final goods and services produced within a nation in a given year. A nation's GDP at purchasing power parity (PPP) exchange rates is the sum value of all goods and services produced in the country valued at prices prevailing in the United States. This is the measure most economists prefer when looking at per-capita welfare and when comparing living conditions or use of resources across countries. The measure is difficult to compute, as a US dollar value has to be assigned to all goods and services in the country regardless of whether these goods and services have a direct equivalent in the United States (for example, the value of an ox-cart or non-US military equipment); as a result, PPP estimates for some countries are based on a small and sometimes different set of goods and services. In addition, many countries do not formally participate in the World Bank's PPP project that calculates these measures, so the resulting GDP estimates for these countries may lack precision. For many developing countries, PPP-based GDP measures are multiples of the official exchange rate (OER) measure. The difference between the OER- and PPP-denominated GDP values for most of the weathly industrialized countries are generally much smaller.
  • GDP per capita: GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used. Figures expressed per capita for the same year.
  • GINI index: Gini index measures the extent to which the distribution of income (or, in some cases, consumption expenditure) among individuals or households within an economy deviates from a perfectly equal distribution. A Lorenz curve plots the cumulative percentages of total income received against the cumulative number of recipients, starting with the poorest individual or household. The Gini index measures the area between the Lorenz curve and a hypothetical line of absolute equality, expressed as a percentage of the maximum area under the line. Thus a Gini index of 0 represents perfect equality, while an index of 100 implies perfect inequality.
  • Gross National Income: GNI, Atlas method (current US$). GNI (formerly GNP) is the sum of value added by all resident producers plus any product taxes (less subsidies) not included in the valuation of output plus net receipts of primary income (compensation of employees and prop).
  • Human Development Index: The human development index values in this table were calculated using a consistent methodology and consistent data series. They are not strictly comparable with those in earlier Human Development Reports.
  • Population below poverty line: National estimates of the percentage of the population lying below the poverty line are based on surveys of sub-groups, with the results weighted by the number of people in each group. Definitions of poverty vary considerably among nations. For example, rich nations generally employ more generous standards of poverty than poor nations.
  • Public debt: This entry records the cumulatiive total of all government borrowings less repayments that are denominated in a country's home currency. Public debt should not be confused with external debt, which reflects the foreign currency liabilities of both the private and public sector and must be financed out of foreign exchange earnings.
  • Tourist arrivals: International inbound tourists (overnight visitors) are the number of tourists who travel to a country other than that in which they have their usual residence, but outside their usual environment, for a period not exceeding 12 months and whose main purpose in visiting is other than an activity remunerated from within the country visited. When data on number of tourists are not available, the number of visitors, which includes tourists, same-day visitors, cruise passengers, and crew members, is shown instead. Sources and collection methods for arrivals differ across countries. In some cases data are from border statistics (police, immigration, and the like) and supplemented by border surveys. In other cases data are from tourism accommodation establishments. For some countries number of arrivals is limited to arrivals by air and for others to arrivals staying in hotels. Some countries include arrivals of nationals residing abroad while others do not. Caution should thus be used in comparing arrivals across countries. The data on inbound tourists refer to the number of arrivals, not to the number of people traveling. Thus a person who makes several trips to a country during a given period is counted each time as a new arrival."
STAT AMOUNT DATE RANK HISTORY
Debt > External $5.72 trillion 2012 3rd out of 172
Debt > External per capita $54,566.65 2007 11th out of 130
GDP $3.4 trillion 2012 5th out of 177
GDP > Composition by sector > Agriculture 0.8% 2012 198th out of 218
GDP > Composition by sector > Industry 28.1% 2012 92nd out of 217
GDP > Composition by sector > Services 71.1% 2012 37th out of 179
GDP > Official exchange rate $3.38 trillion 2012 4th out of 191
GDP > Purchasing power parity $3.17 trillion 2012 5th out of 190
GDP per capita $41,514.17 2012 18th out of 177
GINI index 28.31 2000 37th out of 40
Gross National Income $1.94 trillion 2001 3rd out of 158
Human Development Index 0.93 2006 20th out of 177
Population below poverty line 15.5% 2010 8th out of 14
Public debt 81% of GDP 2012 27th out of 149
Tourist arrivals 24.88 million 2008 10th out of 145

SOURCES: CIA World Factbooks 18 December 2003 to 28 March 2011; CIA World Factbooks 18 December 2003 to 28 March 2011. Population figures from World Bank: (1) United Nations Population Division. World Population Prospects, (2) United Nations Statistical Division. Population and Vital Statistics Report (various years), (3) Census reports and other statistical publications from national statistical offices, (4) Eurostat: Demographic Statistics, (5) Secretariat of the Pacific Community: Statistics and Demography Programme, and (6) U.S. Census Bureau: International Database.; World Bank national accounts data, and OECD National Accounts data files.; World Bank national accounts data, and OECD National Accounts data files. Population figures from World Bank: (1) United Nations Population Division. World Population Prospects, (2) United Nations Statistical Division. Population and Vital Statistics Report (various years), (3) Census reports and other statistical publications from national statistical offices, (4) Eurostat: Demographic Statistics, (5) Secretariat of the Pacific Community: Statistics and Demography Programme, and (6) U.S. Census Bureau: International Database.; World Development Indicators database; Human Development Report 2006, United Nations Development Programme; CIA World Factbooks 18 December 2003 to 28 March 2011; World Tourism Organisation, Yearbook of Tourism Statistics, Compendium of Tourism Statistics and data files.

Citation

"Germany Economy Stats", NationMaster. Retrieved from http://www.nationmaster.com/country-info/profiles/Germany/Economy

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I will try to simplify the economic situation in Spain and the reasons leading to it:

On the one hand, countries have a debt to outsiders due to previous loans, pending return.

How it has come to generate that amount of debt, in some cases, is disproportionate to the ability to pay of the debtor?. The debt is generated for a simple reason: It spends more than it is entered. But that seems a little absurd because it is known that a country produces more than it spends. So to generate debt have to spend much more than what is needed.

This has a direct relationship with the ambition of rulers who, in principle, want to "save face" with its citizens, making necessary infrastructure first and other less necessary as unused airports later. By the way have found that investments in the country they, individually, or party, can be substantial commissions.

Well, we've spent more than you need and begin to generate debt.

We have the indebted countries, now there are debts that have not reached a size manageable by the country in the short term. Obviously the debts of the countries are prorateables among its citizens.

Thus we must extend the debt for quite some time, especially since we have entered a situation where we generate no more than what we spend, so that the debt has to last long.

Extending debt based issue new debt, with debt paid with income above, but in reality, all we do is increase it even more, because as I said we now generate less than what we spend because of the critical situation in we have placed ourselves.

On the other hand our situation increasingly forces us to pay more and more interest on the debt. Why? Because lenders are taking advantage of the situation to see that we are in a hurry.

And also because no one supports us debt.

As we are in the European Union, it is logical that without relying as we are partners and share supposedly many risks and benefits. But this does not happen, why?. It's a little absurd because we pay great interest impoverish evidently Union.

The reason is because there is no European Union. The so-called European Union is a set of individual interests, where premium itself on others, and countries well treated by agents external lenders are very pleased with this deal and do not want to lose. They do not care that other countries are paying a high interest if it makes them low pay. In short they are taking advantage of us, we paid our debt and theirs.

In this situation the attitude of Merkel, Draghi, and other absolute is disloyalty to the southern countries. Otherwise we would have to conclude that they are fools, and do not think they are.

But what is not understandable is the attitude of our rulers: This submission to the dictates of you is trampling undisguised neck can not be understood. At least, if they are not interested move on without these companies, should torpedo the interests of the countries predators to keep them free out abuse. But besides the existence of the European Union, if only theoretically, provides weapons to deal with it differently, especially considering that there is not much to lose.

Posted on 15 Nov 2012

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