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Germany is a founding member of the European Union and the eurozone. [26] [27] In 2016, Germany recorded the highest trade surplus in the world, worth $310 billion. [28] This economic result made it the biggest capital exporter globally. [29] Germany is one of the largest exporters globally with $1.81 trillion worth of goods and services ...
West Germany's GDP in 1975 fell by 1.4 percent (in constant prices), the first time since the founding of the FRG that it had fallen so sharply. The West German trade balance also fell as global demand declined and as the terms of trade deteriorated because of the rise in petroleum prices.
Now, Germany is the world’s worst-performing major developed economy, with both the International Monetary Fund and European Union expecting it to shrink this year.
Industrialization in Germany was the phase of the breakthrough of industrialization in Germany, beginning at the time from around 1815 to 1835. [1] [2] This period was preceded by the periods of pre-industrialization and early industrialization. In general, the decades between the 1830s and 1873 are considered the phase of industrial take off.
Understanding the scale of Germany’s challenges requires a careful look at its strengths, or more appropriately, how it built them. Manufacturing makes up 18.4% of Germany’s economy.
Science and technology in Germany has a long and illustrious history, and research and development efforts form an integral part of the country's economy. Germany has been the home of some of the most prominent researchers in various scientific disciplines, notably physics , mathematics , chemistry and engineering . [ 1 ]
Why is Germany facing a crisis? Things weren’t always this way. During Germany’s golden days, it was an industrial powerhouse and the engine driving the EU’s growth.
In 1957, West Germany is one of the founding nations of the European Economic Community. In 1973, West Germany joins the United Nations (formed in 1945). In 1991, a unified Germany is allowed by the Allies of World War II to become fully sovereign after signing the Treaty on the Final Settlement with Respect to Germany.