The German Economic Persistence

In 2008, the largest national economy in Europe and the fourth largest by nominal GDP (Gross Domestic Product) in the world is the impressive country of Germany. According to sources, the country has been a driver, innovator and beneficiary of an ever more extended economy, since the age of industrialisation. As the top exporter in the world in 2006, it has come up with nearly 1.2 trillion US dollars export goods and has generated a trade surplus of 165 billion Euros.

The country has mostly been dependent on major products in engineering, particularly in cars, machinery, metals and chemical goods. It is also the leading producer of solar power technology and wind turbines. Tourists and local citizens can really attest to the monumental celebration of the country as the largest annual international trade fairs and congresses are held in key cities like Hanover, Frankfurt and Berlin. As a strong advocate of closer European economic and political integration, its commercial policies are increasingly determined by agreements among members of the EU (European Union) and the single market legislation.

Germany is also the central position in Europe as an important transportation hub. The dense and modern transportation networks in the country have clearly reflected this development. Its extensive motorway network or Autobahn ranks as the third largest in the world in its total length and features a lack of blanket speed limits on most routes. Energy efficiency has also been improving since the beginning of the 1970s as a result to measures in energy-saving. The government and the German nuclear power industry have agreed to phase out all nuclear power plants by 2021. As renewable energy still plays a modest role in energy consumption, the share of renewable energy in electricity supply has rapidly been increasing in as much as 14 percent. They are set to increase this share by 27 percent in 2020.