The 18th century was the time in which Germany as an economy
was rural and only a few countries traded in this country
but as soon as 19th century arrived the coin of its fate
flipped and it became the largest growing economy of Europe.
It is an idol country to make your prospect achievements as a target
and can contribute to provide a boost to the working of the people.
The targets this country has accomplished and the milestones achieved
are also recognized as world records in terms of growth, development,
increase in standard of living, maximum utilization
of available resources, offering tough
competition to its peer countries, creating a
successful business and welcoming the foreign trade.
The statistics which are later described have proved that the
country has great potential and this is just a beginning
as the vision of the people contributing in the achievement is wide and is
getting wider enough by utilizing the opportunity that comes their way.
The media has always applauded the economy and
working of the country and its history too
speaks-a-loud statement about the reality and
roots of its present status on global charts.
Establishment Of German economy
The participation of the nation in World War I
and World War II was the strongest and greatest
step taken by the country as it gained very much
as far as the economic prospects considered.
Ninety-nine percent of the German companies belong to "Mittelstand" which are
medium-sized enterprises and the world's largest publicly listed company which include
BMW, Volkswagen, Allianz, Siemens, Bayer, BASF, RWE, Munich Re,
E.ON which together have fifty-three headquarters in the country.
It is the top location for international trade fairs.
Leipzig, Cologne, Frankfurt,Hanover, Dusseldorf are some German
cities that are always the hub for International Trade Fairs.
The railway came and the country started trading
with its establishment and between 1845-1870
there were 5000 more miles of rails which were built a huge achievement and later
building their own locomotives was also a very great step towards development.
The introduction of free trade and a rail system across
the country were intensified economic development
which had created new ways for the marketing
of local products and had also contributed to
creating a pool of middle managers, architects, demand for engineers and skilled labor.
With such successful steps, no country can look back and that was the major targets
that the country had accomplished and proved that they had chosen the correct path.
It is the way a resident can get a better standard
of living, without hard-work no success is possible.
They are the most hard-working race with the most successful initiatives and
the steps that were an idol to make the growth speed at its maximum level.
The best contributor to the growth was Deutsche Mark which was
introduced in 1871 and the new monetary coinage was backed by the Gold.
But it could not become successful and later silver coins were introduced.
The Rise Of Economy
The economy considers itself as the bridge between
industry-specific product and the latest university insights
and also by the research and development work carried
out by the country within their domestic laboratories.
It is rich in timber, salt, copper, nickel, uranium, potash and natural gases.
The energy of the country is sourced from fifty percent fossil fuel
and rest by nuclear power ,gas, wind, biomass, hydro and solar.
It is the largest producer of wind turbines and renewables now produce
twenty-seven percent of the total electricity consumed by the country.
The balance between the available resources and the imported
goods is the greatest contribution in the rise of the economy
and these results are evident about the consistency of the
rise that will be seen by the country at the global level.
The growth of the country was evident and the best part is technology has
a long record to have these developments recorded in the various forms.
A major contributor to the rise was the service sector and this has been the leader
among all the factors that contributed to the growth of the country's economy.
The Special Aspects Of It
West Germany became the Miracle Economy in the 1950's and
1960's which was triggered by a newly modernized economy
under the Guidance of a strict Chancellor Konrad
Adenauer along with his ministry and panel of
ministers which included the Economics minister
as Ludwig Erhard and was aided by Marshall Plan.
The country is the founding member of the European Union and Eurozone.
In 2016 it created and achieved a milestone
of the highest trade surplus worldwide which
was worth 310 billion USD and it became the
biggest capital exporter on the global stage.
It is the fastest growing economy in Europe with the manufacturing sector which is
the greatest contributor and is less likely to be affected by the financial downtime
felt by the world at the same point in time.
In 2017 the country was recognized as International
Monetary Fund and it is considered as the greatest
achievement for the country and reflects its great
growth which is evident on the world levels.
Many developing countries look-up to Germany in terms of growth opportunity
and to learn how to bridge the gap between developing and developed country.
It has been a long way covered by the country and its people, their
hard-work is speaking a very loud voice and the same is really appreciable
as this has proved that the country is
contributing by providing an export opportunity to
other nations by importing various items that
are majorly produced by developing countries.
Present Status
Currently, it is the largest economy with 3.65 trillion USD
as its approximate GDP and for contributing this wide amount,
the country is regarded as the individual economy to contribute
the most to the European Group countries on the global platform.
It is ranked as fourth on the worldwide level
as the fourth economy among the others.
The GDP per capita of the country in 2017 was $44184 with a growth
accounted for 1.8% and its per capita was ranked as for fourth.
The division of the GDP sector has a majority of
Services which account 69.1 percent, followed by
industry sector which is half of the service sector
as 30.20 percent and agriculture as 0.70 percent.
The labor force of the country was estimated at 44.2 million.
The net salary per month is calculated as 2269-2590 USD per month.
The main industries are iron, coal, machinery,steel,cement,automobiles, electronics,
shipbuilding, beverages, textiles, vehicles, machine tools, chemicals, etc.
The exports accounted for 1.33 trillion USD and the
goods that have achieved this target are motor
vehicles, chemicals, rubber and plastic products,
textiles, foodstuffs, transport equipment, etc.
The imports include 1.05 trillion USD and goods that are imported are
pharmaceuticals, electric equipment, data processing equipments, oil and gas, etc.
Overall, the economy is the greatest and the fastest growing.
It is a hub of research and development.
It proves that the dominance of service sector can provide a great achievement
to the country's economy as a whole can also boost up the speed of development,
the countries all over are emphasizing on skill-development by considering the
results shown by Germany and the high standard of living seen among the German's.
The best part is the lowest level of poverty
and it has been reducing with the time.
The world is struggling with the financial crises by this
country is not bothered, that's the main reason that
company selling deals over a call have their list of
German's at the top too target them and gain a lead.
But this is just an example there have been many programs that are
initiated by the people all over the world to guide the youth
about the correct path and how their country can
achieve the status that Germany is holding presently.
Media houses have their eyes on this Country and
especially the business media is considered.
The world has the growth graph and they have the new records to break and this would be
great to see if Germany itself will break its
own target or a competitor will lead them.
The glorious victories achieved in the wars are also one of its kind
and that reflects the potential of the Germans since the 19th century.
They have great growth plans for 21st century and are working towards the same with
the research and development work that would create a new world in coming ten years
as technology is growing at a very high speed and the people around
the world have connected over a single network that is Internet
and the same is the source for preaching everyone all around about the different
ways to become a successful person and to contribute to their countries economy.
The unemployment rate is negligible which is
one of its own kind and the countries which
are struggling with the same can learn the facts to curb the rate of unemployment.