×

Economy Stats: compare key data on Germany & Norfolk Island

  1. Home
  2. Country Info
  3. Compare
  4. Germany vs. Norfolk Island
  5. Economy

Definitions

  • Budget > Expenditures: Expenditures calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms
  • Budget > Revenues: Revenues calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms
  • Budget > Revenues > Per capita: Revenues calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms Per capita figures expressed per 1 population.
  • Currency: The national medium of exchange and its basic sub-unit.
  • Overview: This entry briefly describes the type of economy, including the degree of market orientation, the level of economic development, the most important natural resources, and the unique areas of specialization. It also characterizes major economic events and policy changes in the most recent 12 months and may include a statement about one or two key future macroeconomic trends.
  • Exchange rates: The official value of a country's monetary unit at a given date or over a given period of time, as expressed in units of local currency per US dollar and as determined by international market forces or official fiat.
  • Exports: This entry provides the total US dollar amount of merchandise exports on an f.o.b. (free on board) basis. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.
  • Exports > Commodities: This entry provides a listing of the highest-valued exported products; it sometimes includes the percent of total dollar value.
  • Fiscal year: The beginning and ending months for a country's accounting period of 12 months, which often is the calendar year but which may begin in any month. All yearly references are for the calendar year (CY) unless indicated as a noncalendar fiscal year (FY).
  • Imports: This entry provides the total US dollar amount of merchandise imports on a c.i.f. (cost, insurance, and freight) or f.o.b. (free on board) basis. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.
  • Imports per capita: This entry provides the total US dollar amount of merchandise imports on a c.i.f. (cost, insurance, and freight) or f.o.b. (free on board) basis. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms. Figures expressed per capita for the same year.
  • Industries: A rank ordering of industries starting with the largest by value of annual output.
  • Labor force: This entry contains the total labor force figure.
  • Trade > Exports to US: in US dollars. Jan 2003 - March 2003
  • Labor force > By occupation > Agriculture: This entry is derived from Economy > Labor force > By occupation, which lists the percentage distribution of the labor force by sector of occupation. Agriculture includes farming, fishing, and forestry. Industry includes mining, manufacturing, energy production, and construction. Services cover government activities, communications, transportation, finance, and all other economic activities that do not produce material goods. The distribution will total less than 100 percent if the data are incomplete and may range from 99-101 percent due to rounding.
    Additional details:
    • Gibraltar: negligible (2013)
  • Labor force > By occupation > Services: This entry is derived from Economy > Labor force > By occupation, which lists the percentage distribution of the labor force by sector of occupation. Agriculture includes farming, fishing, and forestry. Industry includes mining, manufacturing, energy production, and construction. Services cover government activities, communications, transportation, finance, and all other economic activities that do not produce material goods. The distribution will total less than 100 percent if the data are incomplete and may range from 99-101 percent due to rounding.
  • Trade > Imports: This entry provides the total US dollar amount of merchandise imports on a c.i.f. (cost, insurance, and freight) or f.o.b. (free on board) basis. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.
  • Trade > Exports: The total US dollar amount of exports on an f.o.b. (free on board) basis.
  • Labor force per thousand people: This entry contains the total labor force figure. Figures expressed per thousand people for the same year.
  • Budget > Expenditures > Per capita: Expenditures calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms Per capita figures expressed per 1 population.
  • Labor force > By occupation > Industry: This entry is derived from Economy > Labor force > By occupation, which lists the percentage distribution of the labor force by sector of occupation. Agriculture includes farming, fishing, and forestry. Industry includes mining, manufacturing, energy production, and construction. Services cover government activities, communications, transportation, finance, and all other economic activities that do not produce material goods. The distribution will total less than 100 percent if the data are incomplete and may range from 99-101 percent due to rounding.
  • Trade balance with US: In US dollars. Jan 2003 - March 2003
SHOW ALL
LESS
SHARE TWEET EMBED
STAT Germany Norfolk Island HISTORY
Agriculture > Products potatoes, wheat, barley, sugar beets, fruit, cabbages; cattle, pigs, poultry Norfolk Island pine seed, Kentia palm seed, cereals, vegetables, fruit; cattle, poultry
Budget > Expenditures $1.53 trillion
Ranked 4th. 319167 times more than Norfolk Island 		$4.80 million
Ranked 148th.
Budget > Revenues $1.53 trillion
Ranked 4th. 333696 times more than Norfolk Island 		$4.60 million
Ranked 220th.
Budget > Revenues > Per capita $17,645.42 per capita
Ranked 16th. 7 times more than Norfolk Island 		$2,482.46 per capita
Ranked 47th.
Currency euro Australian dollar
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. 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. 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 6.5% in 2012. GDP contracted 5.1% in 2009 but grew by 4.2% in 2010, and 3.0% in 2011, before dipping to 0.7% in 2012 - a reflection of low investment spending due to crisis-induced uncertainty and the decreased demand for German exports from recession-stricken periphery countries. 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. 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. By 2014, the federal government wants to balance its budget. 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. Norfolk Island is suffering from a severe economic downturn. Tourism, the primary economic activity, is the main driver of economic growth. The agricultural sector has become self sufficient in the production of beef, poultry, and eggs.
Exchange rates euros (EUR) per US dollar -<br />0.78 (2012 est.)<br />0.72 (2011 est.)<br />0.76 (2010 est.)<br />0.72 (2009 est.)<br />0.68 (2008 est.) Australian dollars (AUD) per US dollar -<br />0.97 (2012)<br />0.97 (2011)<br />1.09 (2010)<br />1.28 (2009)<br />1.21 (2008)
Exports $1.46 trillion
Ranked 3rd. 973333 times more than Norfolk Island 		$1.50 million
Ranked 1st.
Exports > Commodities motor vehicles, machinery, chemicals, computer and electronic products, electrical equipment, pharmaceuticals, metals, transport equipment, foodstuffs, textiles, rubber and plastic products postage stamps, seeds of the Norfolk Island pine and Kentia palm, small quantities of avocados
Fiscal year calendar year 1
Imports $1.22 trillion
Ranked 3rd. 68268 times more than Norfolk Island 		$17.90 million
Ranked 200th.
Imports per capita $14,922.49
Ranked 15th. 80% more than Norfolk Island 		$8,306.26
Ranked 46th.
Industries among the world's largest and most technologically advanced producers of iron, steel, coal, cement, chemicals, machinery, vehicles, machine tools, electronics, food and beverages, shipbuilding, textiles tourism, light industry, ready mixed concrete
Labor force 43
Ranked 67th. 		978
Ranked 2nd. 23 times more than Germany
Trade > Exports to US $15.95 billion
Ranked 5th. 53153 times more than Norfolk Island 		$300,000.00
Ranked 190th.
Labor force > By occupation > Agriculture 1.6%
Ranked 174th. 		6%
Ranked 138th. 4 times more than Germany
Labor force > By occupation > Services 73.8%
Ranked 5th. 		80%
Ranked 2nd. 8% more than Germany
Trade > Imports $1.12 trillion
Ranked 3rd. 62570 times more than Norfolk Island 		$17.90 million
Ranked 150th.
Trade > Exports $1.34 trillion
Ranked 2nd. 891333 times more than Norfolk Island 		$1.50 million
Ranked 150th.
Labor force per thousand people 0.00053
Ranked 101st. 		445.36
Ranked 2nd. 840450 times more than Germany
Budget > Expenditures > Per capita $17,633.28 per capita
Ranked 16th. 7 times more than Norfolk Island 		$2,590.39 per capita
Ranked 49th.
Labor force > By occupation > Industry 24.6%
Ranked 43th. 76% more than Norfolk Island 		14%
Ranked 123th.
Trade balance with US $-8,563,500,000.00
Ranked 220th. 42818 times more than Norfolk Island 		$-200,000.00
Ranked 111th.

SOURCES: CIA World Factbooks 18 December 2003 to 28 March 2011; All CIA World Factbooks 18 December 2003 to 18 December 2008; CIA World Factbooks 2010, 2011, 2012, 2013; CIA World Factbooks 2010, 2011, 2012, 2013. 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.; US Census Bureau

SHOW ALL
LESS

Citation

Compare Germany and Norfolk Island in
Agriculture Environment Language
Background Geography Media
Economy Government People
Education Health Religion
Energy Labor Transport

Factoid #106

Related Sectors

E-commerce 2019

Stats

Country profiles

Compare

Adblocker detected! Please consider reading this notice.

We've detected that you are using AdBlock Plus or some other adblocking software which is preventing the page from fully loading.

We don't have any banner, Flash, animation, obnoxious sound, or popup ad. We do not implement these annoying types of ads!

We need money to operate the site, and almost all of it comes from our online advertising.

Please add www.nationmaster.com to your ad blocking whitelist or disable your adblocking software.

×