Macroeconomics
After entering the 21st century, the German economy returned to steady growth after wandering for the first few years, and the economy achieved continuous growth from 2004 to 2008. In 2011, Germany’s GDP was US$3.58 trillion, a year-on-year increase of 3.0% after deducting price factors. At the same time, the employment situation in Germany has improved, with the number of employed people in the capital exceeding the 41 million mark, and the number of unemployed persons falling by 446,000 to 2.5 million. That year, the consumer price index rose by 2.3%, and the public fiscal deficit fell to 1% of GDP.
According to data from the German Federal Statistical Office website, in 2011 Germany’s primary, secondary and tertiary industries accounted for 0.9%, 30% and 69.1% of GDP respectively.
In 2011, Germany’s total imports reached 1,962.1 billion euros, of which exports exceeded the 1,000 billion euro mark for the first time, reaching 1,060.1 billion euros, a year-on-year increase of 11.4%, and imports were 902 billion euros, an increase of 13.2%, higher than the historical record in 2008. The foreign trade surplus that year was 158.1 billion euros, an increase of 3.2 billion euros from 2010. Among the major trading partners, exports and imports to the EU were 627.3 billion euros and 572.6 billion euros respectively, an increase of 9.9% and 13.8%; exports and imports to the euro area were 420.9 billion euros and 401.5 billion euros, an increase of 8.6% and 12.9%. ; The exports and imports to the EU were 432.8 billion euros and 329.4 billion euros respectively, an increase of 13.6% and 12% respectively.
Advantages of attracting investment
From the perspective of the attractiveness of the investment environment, Germany’s competitive advantages are reflected in the following ten aspects: strong economic strength, high international status, high productivity, high-quality labor force, strong innovation capabilities, and first-class infrastructure , extremely attractive incentive mechanism, extremely competitive tax policy, safe and stable investment framework and high quality of life.
According to the World Economic Forum’s “Global Competitiveness Report 2011~2012”, Germany ranks 6th among the 139 most competitive countries and regions in the world.
Germany is the third largest economy in the world and the largest economic power in Europe. Germany’s export capital is much higher than its imported capital, and it is one of the largest capital exporters in the world. According to data from the Deutsche Bundesbank, Germany absorbed a total of 22.186 billion euros in foreign direct investment in 2011, a year-on-year decrease of 36.31%. In 2011, Chinese companies invested in 158 projects in Germany, making China the country with the most investment projects in Germany that year.
In 2011, France continued to maintain a low position as Germany’s largest trading partner. The total bilateral import and export trade between Germany and France reached 168 billion euros. The Netherlands ranked second with 151.5 billion euros, and China ranked third. The total trade volume between Germany and China was 144 billion. EUR. In the same year, Germany’s total imports from China and France were 79.2 billion euros and 66.5 billion euros respectively.
Industry and demand
Germany is the world’s leading automobile manufacturing power. In 2011, German automobile and parts exports accounted for 17.4% of total exports, continuing to rank first. Germany is also the world’s second largest manufacturer of machinery and equipment, second only to the United States. Its machinery manufacturing sales in 2011 were US$278.8 billion. Machinery and equipment was Germany’s second largest export commodity in 2011 (€160.8 billion), an increase of 15.9%, accounting for 15.2% of the total exports for the year. There are more than 3,500 companies across the country engaged in machinery and equipment manufacturing.
In 2011, in the ranking of German foreign trade product structure, clothing exports ranked 13th, with an export value of 13.998 billion euros, an increase of 9.7%; clothing imports ranked 12th, with an import value of 27.132 billion euros, an increase of 13.4%. Other textile exports ranked 16th, with an export value of 10.607 billion euros, an increase of 12.8%; other textile imports ranked 17th, with an import value of 10.229 billion euros, an increase of 15.9%.
Production and trade
Germany’s price level is medium among developed European countries. The German consumer price index rose by an average of 2.3% in 2011, significantly higher than in previous years (1.1% and 0.4% in 2010 and 2009 respectively). The sharp rise in energy prices is the main driver of higher prices.
China is Germany’s largest trading partner in the Asia-Pacific region, and Germany is China’s sixth largest trading partner in the world and largest trading partner in Europe. According to Chinese customs statistics, the total trade volume between China and Germany in 2011 was US$169.15 billion, a year-on-year increase of 18.78%, of which China’s exports were US$76.43 billion, a year-on-year increase of 12.3%; China’s imports were US$92.72 billion, a year-on-year increase of 24.9%.
According to Chinese customs statistics, in recent years, the main categories of China’s exports to Germany include: electrical machinery, knitted or crocheted clothing and clothing accessories, non-knitted or non-crocheted clothing and clothing accessories, furniture and bedding, etc.
In recent years, German water prices have ranked among the highest among industrial countries. According to a water price survey in 19 cities in Germany, the highest water price for German residents in 2010 was 2.46 euros/cubic meter, the lowest was 1.58 euros/cubic meter, and the average water price exceeded 1.91 euros/cubic meter.
The electricity price level across Germany is not uniform. The electricity price includes monthly rent, electricity tax and unit price. In 2010, the industrial electricity consumption in Germany was about 95 euro cents/kWh, and the residential electricity price was about 22 euro cents/kWh.
