Germany

The Federal Republic of Germany is a modern great power, and a member state of the United Nations, NATO, the G8 and the G4 nations.

Germany is the world's third largest economy by nominal GDP, the world's largest exporter of goods, and the world's second largest importer of goods.

In 2007 it holds the rotating presidencies of both the European Council and the G8 summits.

Germany has the largest economy in Europe and the third largest economy in the world, behind the United States and Japan.

It is ranked fifth in the world in terms of purchasing power parity.

The export of goods is an essential part of the German economy and one of the main factors of its wealth. According to the World Trade Organization, Germany is the world's top exporter with $912 billion exported in 2005 (Germany's exports to other Eurozone countries are included in this total).

In the service sector, Germany ranks second behind the United States. Most of the country's exports are in engineering, especially in automobiles, machinery, and chemical goods. In terms of total capacity to generate electricity from wind power, Germany is first in the world and it is also the main exporter of wind turbines.

Although problems created by reunification in 1990 have begun to diminish, the standard of living remains higher in the western half of the country.

The national economy has shown signs of improvement in recent years, the economics magazine Handelsblatt declaring it one of the most competitive in the Eurozone.

Economists for the Institute for Economic Research in Berlin expect Germany's economic growth to increase dramaticaly over the next two years.


Source: Wilkepedia