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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 ...
The services sector is by far the most important sector in the European Union, making up 64.7% of GDP, compared to the manufacturing industry with 23.8% of GDP and agriculture with only 1.5% of GDP. [52] Financial services are well developed within the Single Market of the Union.
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 ...
A tech overhaul at Germany's Destatis has meant that Europe’s largest economy hasn’t been able to publish some key economic data points since May. ... is going on in the service sector ...
Nominal GDP sector composition, 2015 (in millions of 2005 USD): [5] [6] 2005 prices are used similarly to 2010 constant prices in which they provide economic statistics where inflation is accounted for.
Slowing economic growth in China, until recently Germany’s second-biggest export market, has crimped demand for goods, and fundamental shifts in the Chinese economy mean that demand may not ...
Germany is the current largest economy in Europe, the European Union and the Eurozone, with Germany remaining the eurozone's largest economy. Latvia is the fastest growing economy in both the eurozone and the European Union. Luxembourg is home to the highest GDP (nominal) per capita in both the European Union and eurozone.