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The economy of Germany is a highly developed social market economy. [24] It has the largest national economy in Europe, the third-largest by nominal GDP in the world, and the sixth-largest by PPP-adjusted GDP. Due to a volatile currency exchange rate, Germany's GDP as measured in dollars fluctuates sharply.
The German economic crisis is a significant downturn of Germany's economy that marked a dramatic reversal of its previous "labour market miracle" period of 2005–2019. The country, which had been considered to be Europe's economic powerhouse in prior decades, became the worst-performing major economy globally in 2023 with a 0.3% contraction, followed by minimal growth in 2024 leaning on ...
Based on the results, the World Bank announced that in 2021 Russia was the world's 4th largest economy (int$5.7 trillion and 3.8 percent of the world) and the largest economy in Europe and Central Asia when measured in PPP terms (15 percent of the regional total), followed by Germany (13 percent of the regional economy). [18]
Germany can take solace in the fact that despite its current troubles, it’s still the biggest economy in Europe. And while revenues for Fortune 500 Europe companies declined last year, profits ...
The economy of Berlin is dominated by the service sector, with around 84% of all companies doing business in services. Important economic sectors in Berlin include life sciences, transportation, information and communication technologies, media and music , advertising and design, biotechnology, environmental services, construction, e-commerce ...
BERLIN (Reuters) -Germany's main political parties were unveiling their manifestos on Tuesday, offering competing visions to lift Europe's largest economy out of the doldrums while fighting off a ...
Germany’s economy contracted by 0.3% through 2023, fighting varying stages of stagnation and recession. Exports declined 4.6% in the year to December 2023, while imports declined more than 12% ...
The current map of EU growth is one of huge regional variation, with the larger economies suffering from stagnant growth and most of the newer states enjoying sustained, robust economic growth. The European Union's financial system is characterized by a large banking sector, with bank assets comprising 300% of GDP, compared to 85% in the United ...