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Economy of Germany

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Germany has a social market economy with a highly skilled labour force, a large capital stock, a low level of corruption,[106] and a high level of innovation.[107] It has the largest and most powerful national economy in Europe, the fourth largest by nominal GDP in the world,[108] the fifth largest by PPP,[109] and was the biggest net contributor to the EU budget in 2011.[110] The service sector contributes approximately 71% of the total GDP, industry 28%, and agriculture 1%.[5] The official average national unemployment rate in June 2013 was 6.6%.[111] However, the official average national unemployment rate also includes people with a part-time job that are looking for a full-time job.[112] The unofficial average national unemployment rate in 2011 was 5.7%.[5]

Germany is an advocate of closer European economic and political integration.

Its commercial policies are increasingly determined by agreements among European Union (EU) members and by EU legislation. Germany introduced the common European currency, the euro, on 1 January 2002.[113][114] Its monetary policy is set by the European Central Bank, which is headquartered in Frankfurt. Two decades after German reunification, standards of living and per capita incomes remain significantly higher in the states of the former West Germany than in the former East.[115] The modernisation and integration of the eastern German economy is a long-term process scheduled to last until the year 2019, with annual transfers from west to east amounting to roughly $80 billion.[116] In January 2009 the German government approved a €50 billion economic stimulus plan to protect several sectors from a downturn and a subsequent rise in unemployment rates.[117]

Germany is the world's top location for trade fairs. Around two thirds of the world's leading trade fairs take place in Germany.[118]

Of the world's 500 largest stock-market-listed companies measured by revenue in 2010, the Fortune Global 500, 37 are headquartered in Germany. 30 Germany-based companies are included in the DAX, the German stock market index. Well-known global brands are Mercedes-Benz, BMW, SAP, Siemens, Volkswagen, Adidas, Audi, Allianz, Porsche, Bayer, Bosch, and Nivea.[119] Germany is recognised for its specialised small and medium enterprises. Around 1,000 of these companies are global market leaders in their segment and are labelled hidden champions.

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Please copy the text in the edit box below and insert it manually by editing this page. Upon submitting the note will be published multi-licensed under the terms of the CC-BY-SA-3.0 license and of the GFDL, versions 1.2, 1.3, or any later version. See our terms of use for more details. Add a note Draw a rectangle onto the image above (press the left mouse button, then drag and release). Save To modify annotations, your browser needs to have the XMLHttpRequest object. [[MediaWiki talk:Gadget-ImageAnnotator.js|Adding image note]]$1 [[MediaWiki talk:Gadget-ImageAnnotator.js|Changing image note]]$1 [[MediaWiki talk:Gadget-ImageAnnotator.js|Removing image note]]$1. Infrastructure. Transport in Germany. As a densely populated country in a central location in Europe and with a developed economy, Germany has a dense and modern transportation infrastructure.

Transport in Germany

The first highway system to have been built, the extensive German Autobahn network famously features sections where no speed limit is in force. The country's most important waterway is the river Rhine. The largest port is that of Hamburg. Frankfurt Airport is a major international airport and European transportation hub. Air travel is used for greater distances within Germany but faces competition from the state-owned Deutsche Bahn's rail network. Energy in Germany. Energy in Germany is sourced predominantly by fossil fuels, followed by nuclear power, biomass (wood and biofuels), wind, hydro and solar.

Energy in Germany

Key to Germany's energy policies and politics is "Energiewende", meaning "energy turnaround" or "energy transformation". Germany intends to eliminate current use of nuclear power by 2022. Many plants have already been closed ahead of their intended retirement dates. It is presumed that fossil fuels, wind power, solar power, biofuels, energy imports from France and energy conservation will be enough to replace the existing capacity from nuclear power. The policy includes phasing out nuclear power immediately, and progressive replacement of fossil fuels by renewables. Science and technology. Science and technology in Germany. Germany's achievements in science and technology have been significant and research and development efforts form an integral part of the country's economy.

Science and technology in Germany

List of German inventors and discoverers.