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Economy Stats: compare key data on Germany & Pitcairn Islands

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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 > 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 > Commodities: This entry provides a listing of the highest-valued imported products; it sometimes includes the percent of total dollar value.
  • 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.
  • Labor force per thousand people: This entry contains the total labor force figure. Figures expressed per thousand people for the same year.
  • Trade > Exports to US: in US dollars. Jan 2003 - March 2003
  • Trade > With US > US imports of bauxite and aluminum: US imports of bauxite and aluminum, USD Thousands, 2004
  • 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.
  • Trade balance with US: In US dollars. Jan 2003 - March 2003
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STAT Germany Pitcairn Islands HISTORY
Agriculture > Products potatoes, wheat, barley, sugar beets, fruit, cabbages; cattle, pigs, poultry honey; wide variety of fruits and vegetables; goats, chickens; fish
Budget > Expenditures $1.53 trillion
Ranked 4th. 1490272 times more than Pitcairn Islands 		$1.03 million
Ranked 149th.
Budget > Revenues $1.53 trillion
Ranked 4th. 2057641 times more than Pitcairn Islands 		$746,000.00
Ranked 221st.
Budget > Revenues > Per capita $17,645.42 per capita
Ranked 16th. 14% more than Pitcairn Islands 		$15,529.45 per capita
Ranked 7th.
Currency euro New Zealand 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. The inhabitants of this tiny isolated economy exist on fishing, subsistence farming, handicrafts, and postage stamps. The fertile soil of the valleys produces a wide variety of fruits and vegetables, including citrus, sugarcane, watermelons, bananas, yams, and beans. Bartering is an important part of the economy. The major sources of revenue are the sale of postage stamps to collectors and the sale of handicrafts to passing ships.
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.) New Zealand dollars (NZD) per US dollar -<br />1.23 (2012)<br />1.26 (2011)<br />1.39 (2010)<br />1.6 (2009)<br />1.42 (2008)
Exports > Commodities motor vehicles, machinery, chemicals, computer and electronic products, electrical equipment, pharmaceuticals, metals, transport equipment, foodstuffs, textiles, rubber and plastic products fruits, vegetables, curios, stamps
Fiscal year calendar year 1
Imports > Commodities machinery, data processing equipment, vehicles, chemicals, oil and gas, metals, electric equipment, pharmaceuticals, foodstuffs, agricultural products fuel oil, machinery, building materials, flour, sugar, other foodstuffs
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 postage stamps, handicrafts, beekeeping, honey
Labor force 43
Ranked 67th. 3 times more than Pitcairn Islands 		15
Ranked 110th.
Labor force per thousand people 0.00053
Ranked 101st. 		230.77
Ranked 4th. 435495 times more than Germany
Trade > Exports to US $15.95 billion
Ranked 5th. 1594580 times more than Pitcairn Islands 		$10,000.00
Ranked 211th.
Trade > With US > US imports of bauxite and aluminum 293,979
Ranked 5th. 		0.0
Ranked 110th.
Budget > Expenditures > Per capita $17,633.28 per capita
Ranked 16th. 		$18,683.38 per capita
Ranked 5th. 6% more than Germany
Trade balance with US $-8,563,500,000.00
Ranked 220th. 		$790,000.00
Ranked 84th.

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; FTDWebMaster, Foreign Trade Division, U.S. Census Bureau

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