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CIA
Background-Info The German economy - the fifth largest economy in the world in PPP terms and Europe's largest - officially entered a recession in the third quarter of 2008 as the strong euro, high oil prices, tighter credit markets, and slowing growth abroad took their toll on the world's leading goods exporter. Growth - 1.7% in 2008 - is widely expected to contract further in 2009. Recent stimulus and lender relief efforts will cut into Germany's budget surplus and undercut its efforts to balance its budget as planned. Prior to the downturn, stronger growth in 2007 led unemployment in 2008 to fall below 8%, a new post-reunification low. This suggested the end of a long period of chronically high unemployment and stagnation when average growth beween 2001-05 was only 0.6%. Among the most important reasons for Germany's high unemployment during the past decade were macroeconomic stagnation, the declining level of investment in plant and equipment, company restructuring, flat domestic consumption, structural rigidities in the labor market, lack of competition in the service sector, and high interest rates. The modernization and integration of the eastern German economy - where unemployment exceeds 30% in some municipalities - continues to be a costly long-term process, with annual transfers from west to east amounting to roughly $80 billion. The former government of Chancellor Gerhard SCHROEDER launched a comprehensive set of reforms of labor market and welfare-related institutions. The current government of Chancellor Angela MERKEL has initiated other reform measures, such as a gradual increase in the mandatory retirement age from 65 to 67 and measures to increase female participation in the labor market. Germany's aging population, combined with high chronic unemployment, has pushed social security outlays to a level exceeding contributions, but higher government revenues from the cyclical upturn in 2006-07 and a 3% rise in the value-added tax pushed Germany's budget deficit well below the EU's 3% debt limit. Corporate restructuring and growing capital markets are setting the foundations that could help Germany meet the long-term challenges of European economic integration and globalization, although some economists continue to argue the need for change in inflexible labor and services markets. |
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Währung: Euro
(ISO-Kode:
EUR)
Aktueller Wechselkurs/Währungsrechner: http://www.lexas.net/wechselkurse/index.html
Inflationsrate: 1,7%
2006
Haushaltseinnahmen: 1,281 Billionen Haushaltsausgaben: 1,331 Billionen 2006
Staatsverschuldung:
66,80%
vom BIP
2006
Devisenreserven: $ 97.170.000.000 2004 BIP: 2.632.000.000.000 USD (Kaufkraftsparität) 2006 est.; Zuwachsrate: 2.80% 2006 est.
BIP/pro Kopf: $ 31,900
USD
2006 est.
Erwerbstätige: 43.660.000
2006
Arbeitslosenquote: 7,1% 2006 est. Anteil der Bevölkerung unterhalb der Armutsgrenze: 11%
Investitionsvolumen: 18,0 % des BIP Marktwert der öffentlich gehandelten Aktien: USD 1,221 Billionen (2005) Direktinvestitionen im Ausland: USD 1,123 Billionen (2007) Ausländische Direktinvestitionen im Inland: USD 811 Milliarden (2007)
Auslandsverschuldung: $ 3.626.000.000.000
USD
30 June 2005
Leistungsbilanzsaldo: 134,800,000,000
USD
2006
Tourismus: 24,420 Mio. Besucher; Einnahmen: 36,0,29 Mrd. USD
Korruptionswahrnehmungsindex (CPI):
7,8
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