Тhe economy in Germany

German economy

The level of economic development in Germany

• The country is located in Central Europe in the center of the European Union. The country is characterized by a strong, dynamically developing economy. Germany is the 4th largest economy in the world.

The level of economic development in Germany

• Germany occupies a leading position in many sectors of the economy. The country has a very high standard of living (5th place in the world) and one of the highest levels of well-being of the population.

The level of economic development in Germany

• Thanks to the developed economy, the country practices effective social security (the average pension for men is 1000 euros or 73 thousand rubles, for women 650 euros – 45 thousand rubles), an effective health care system. In addition, higher education is free in the country and large amounts of money are spent on environmental safety.

Features of the economy

• Germany exports cars, computer equipment and electronics, medicines, processed metals, food, textiles, industrial and transport equipment, rubber products.

Features of the economy

• Imports ($1.1 trillion) include a large share of hydrocarbons (oil and gas), transport equipment, electrical equipment, agricultural products.

How much do Germans earn?

• At the beginning of 2019, the Government of the country set a minimum wage of 9.5 euros per hour. Average salaries are 3,800 euros per month and 2,300 euros after withholding taxes.

How much do Germans earn?

• Only 1.5% of the country's population is below the poverty line, which is an excellent indicator. There is active social support for the unemployed population.

Conclusion

• * Germany is on the 4th place in terms of GDP in the world and on the 1st place in Europe.
• * A large share of GDP is occupied by the service sector. Industry is well developed, mainly mechanical engineering and chemical industry.
• * Agriculture occupies a small share, but it is very efficient.

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