Joel Alvarado

LEH 355

2/6/2015

Germany’s economy

According to the CIA (Central Information Agency), Germany is one of the most stabled economic systems in the world, their technological advances allows them to be major importer and exporters of machinery, vehicles, and chemical substances. Germany resides next to Denmark, Poland, Austria, France, Switzerland, Netherland, Belgium and Czech Republic surround Germany, but it is contains the largest number of inhabitants amongst the European Union. One of the things that set Germany apart in terms of their economic strength is that at the backbone of the economy, there are skillful, talented and educated employers which helped German economy to become pioneers in manufacturing industries. The hourly minimum wage in Germany is about 11 an hour but they hold one of the largest unemployment rates amongst the European Union. Normally, Germany gains their power from nuclear reactors but they are moving towards getting rid of all the reactors and are going to start getting energy from renewable resources.

            In 2013, it was reported that Germany had an exchange rate of $3.593 trillion dollars and a 24.7% gross national saving amount, raking Germany as one of the top exchange parties in the world. Germany also has agricultural advantages that allows them have an economic edge. Germany’s agriculture consists of potatoes, wheat, barley, sugar beets, fruit, cabbages; milk products; cattle, pigs and poultry but the real business that gives them the advantage is the major exports of their commodities such as motor vehicles, machinery, chemicals, computer and electronic products, electrical equipment, pharmaceuticals, metals, transport equipment, foodstuffs, textiles, rubber and plastic products.