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Due to a volatile currency exchange rate, Germany's GDP as measured in dollars fluctuates sharply, but it is among the world´s top 4 since 1960. [25] In 2017, the country accounted for 28% of the Euro area economy according to the International Monetary Fund (IMF). [26] Germany is a founding member of the European Union and the eurozone. [27] [28]
Gross domestic product (GDP) is the market value of all final goods and services from a nation in a given year. [1] Countries are sorted by nominal GDP estimates from financial and statistical institutions, which are calculated at market or government official exchange rates.
Gross domestic product (GDP) is the market value of all final goods and services from a nation in a given year. [2] Countries are sorted by nominal GDP estimates from financial and statistical institutions, which are calculated at market or government official exchange rates.
GDP comparisons using PPP are arguably more useful than those using nominal GDP when assessing the domestic market of a state because PPP takes into account the relative cost of local goods, services and inflation rates of the country, rather than using international market exchange rates, which may distort the real differences in per capita ...
Real GDP is an example of the distinction between real and nominal values in economics.Nominal gross domestic product is defined as the market value of all final goods produced in a geographical region, usually a country; this depends on the quantities of goods and services produced, and their respective prices.
In the fourth quarter of 2023, Germany's GDP surpassed Japan's, and is now the third largest economy in the world after the United States and China. Germany is the largest economy in Europe and is the third largest export nation in the world. [137] [138]
Real GDP sector composition [ edit ] GDP sector composition, 2017 (in percentage and in millions of dollars) using the Purchasing Power Parity methodology: [ 3 ] [ 4 ]
It accounted for 25.4% of global GDP in 1 CE, 29% of world global output in 1600 CE, 17.3% of the world's economy in 1870, and 33% in 1820 (its highest point). China's share of global GDP varied from a quarter to a third of global output until the late 19th century. [12]