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Germany Economy
Gross Domestic Product (GDP): In 1994 US$1,840 billion, or about US$27,800 per capita. Real growth rate 2.4 percent, inflation rate 3.0 percent, and unemployment rate 8.2 percent.
Agriculture: 3 percent of labor force and 1 percent of GDP in 1992. Main crops wheat, potatoes, sugar beets, and barley.
Industry: 38 percent of labor force and 38 percent of GDP in 1992. Products highly specialized goods, including machine products of all varieties, chemicals, electrical products, construction, food and beverages, lignite, textiles, and
petroleum and gas refining.
Services: 59 percent of labor force and 61 percent of GDP in 1992.
Exports: US$428 billion in 1994, mainly highly specialized industrial products, including motor vehicles, machines, electronic goods, and chemicals.
Imports: US$376 billion in 1994, including food, petroleum products, manufactured goods, electrical products, automobiles, and apparel.
Foreign Trade by Region: Imports in 1994: European Union (EU) 47.6 percent, European Free Trade Association (EFTA) 14.0 percent, developing countries 11.5 percent, former European communist bloc countries 8.1 percent, United States and
Canada 7.7 percent, Japan 5.6 percent, other dynamic Asian economies 3.7 percent, and Organization of the Petroleum Exporting Countries (OPEC) 2.0 percent. Exports in 1994: EU 48.9 percent, EFTA 15.1 percent, developing countries 11.5 percent, United Sta
tes and Canada 8.5 percent, former European communist bloc countries 7.1, Japan 2.6 percent, other dynamic Asian economies 3.5 percent, and OPEC 2.6 percent.
Balance of Payments: In 1994 trade balance US$52 billion; current account showed deficit of US$20 billion; capital account balance US$24 billion.
Fiscal Year: Calendar year.
Currency and Exchange Rate: Deutsche mark (DM). In April 1996, exchange rate US$1 = DM1.51.
Data as of August 1995
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