What are the major economic activities of Germany?

What is the German economy famous for?

The German economy has its great innovativeness and strong focus on exports to thank for its competitiveness and global networking. In high-selling sectors, such as car-making, mechanical and plant engineering, the chemicals industry and medical technology, exports account for well over half of total sales.

What is the leading economic industry in Germany?

Germany is Europe’s most industrialized country, and its economy is well diversified: the automotive industry is the country’s largest sector, but Germany also retains other specialized sectors, including mechanical engineering, electric and electronic equipment, and chemical products.

Why is Germany’s economy so successful?

Europe’s largest economy scores highest with its excellent infrastructure, its highly developed corporate and services sector, its system of higher education, its first-rate vocational training, especially in the skilled crafts and trades, and, last but not least, its capacity to deliver technological innovations.

What is Germany’s main source of income?

Germany is dominated by manufacturing industries including automotive, chemicals, metals such as iron and steel, electrical equipment, coal, ships, machine tools, high precision equipment, optics, pharmaceuticals, textiles, and plastic goods.

What industry are most jobs in Germany?

The service sector continues to employ the largest share of workers in Germany, with around 71.61 percent of employees working in the sector in 2019. In recent years, the distribution of workers has slowly shifted away from the industry and agriculture sectors.

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What is Germany’s biggest export?

Searchable List of Germany’s Most Valuable Export Products

Rank Germany’s Export Product 2020 Value (US$)
1 Cars $122,200,241,000
2 Medication mixes in dosage $60,097,726,000
3 Automobile parts/accessories $54,205,949,000
4 Blood fractions (including antisera) $31,827,669,000

Which sector of Germany economy had the highest GDP?

The services sector is the largest in Germany and has been generating a steady share of around 60 percent of gross domestic product since 2007. Following the financial crisis, the services sector grew to just over 64 percent in 2009, but otherwise has made up a consistent share of GDP.

What services is Germany known for?

As is the case in many other countries with an advanced economy, Germany’s service sector (i.e., trade, transport, banking, finance, and administration) is a leading employer. This is abundantly clear in urban centres throughout western Germany, with their concentration of retailing, banking, and insurance.