Imports/Exports in Germany
Trade represents more than 80% of Germany’s GDP; with exports representing about 40% of GDP, Germany is a leader in exports (only recently caught up with by China).
The global recession which has lead to a decrease in exports reduced the positive trade balance of the country, however since the beginning of the recovery, trade balance shows comfortable surplus and this trend should continue in the coming years.
The whole of the European Union is its primary trade partner: around 60% of German exports and 60% of its imports are done with the EU. China and the U.S. are the other two main partners.
|Foreign Trade Indicators||2006||2007||2008||2009||2010|
|Imports of Goods (million USD)||906,684||1,054,980||1,185,070||926,347||1,067,107|
|Exports of Goods (million USD)||1,108,107||1,321,214||1,446,172||1,120,040||1,268,840|
|Imports of Services (million USD)||224,081||258,682||288,401||252,543||256,289|
|Exports of Services (million USD)||187,830||221,929||255,789||225,756||229,861|
|Imports of Goods and Services (Annual % Change)||11.9||5.0||3.3||-9.4||-|
|Exports of Goods and Services (Annual % Change)||12.5||7.8||-||-||-|
|Imports of Goods and Services (in % of GDP)||39.7||39.8||41.0||35.9||-|
|Exports of Goods and Services (in % of GDP)||45.4||46.9||47.5||40.8||-|
|Trade Balance (million USD)||198,053||270,621||265,097||188,348||-|
|Trade Balance (Including Service) (million USD)||166,016||236,214||228,100||-||-|
|Foreign Trade (in % of GDP)||85.0||86.7||88.5||76.7||-|
Source: WTO - World Trade Organization ; World Bank
Main Partner Countries
(% of Exports)
|Other partnersClose extended list||63.6%|
(% of Imports)
|Other partnersClose extended list||63.2%|
Exchange Rate System
- Exchange Rate Regime
- Floating exchange rate regime.
There is no exchange control in Germany. There is free convertibility and the right to transfer capital and profits.There are no particular regulations concerning currency exchange.
- Level of Currency Instability
- Very limited exchange risk since the euro is a major currency.
|Euro (EUR) - Average Annual Exchange Rate For 1 USD||0.80||0.80||0.73||0.68||0.72|
Source: World Bank
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