Export Import – Largest Economy
2 min read
Germany is one of the largest economies in the world. It is also the largest economy in Europe. The reason behind the leadership of Germany in world economy is its innovations and inventions ever since the age of industrialization. Since then, Germany has continued to produce products with superb quality.
In fact it is due to the quality products that Germany produces that Germany is considered as the world’s second largest exporter in the world. Practically all countries all over the world seek for German products because the quality of its products is beyond question. In 2009, Germany was able to export $1. 7 trillion in countries all over Europe and in other parts of the world as well.
One of the most popular products of Germany is focused in engineering specifically automobiles and machinery. The craftsmanship of German made automobiles and machineries is excellently manifested in the quality of these products. Moreover, German made machineries are efficient and durable, thus many industries prefer to purchase these products despite the cost that entails with these. Moreover, some of the other engineering products that are exported by Germany include wind turbines and solar power technology. In fact, Germany is the leading producer of wind turbines and solar power.
The other export products of Germany include metals, chemical goods, motor trailers, electric machines, shipbuilding, and optics among others. The leading export partners of Germany include its neighboring European countries, and the United States. Germany also exports products to Brazil, South Korea, Canada, Japan, and South Africa. There are also a lot of leading German manufacturing industries that are not known only in Europe, but globally. In 2007, the top ten leading German companies were identified and these are Volkswagen, Daimler, Alliance, Siemens, E.ON, Deutsche Telekom, Metro, Deutsche Bank, BASF, and Metro. These companies are most recognized in the business world for their accomplishments and achievements.
On the other hand, Germany does trading with other countries as well. In fact it is also importing products from some of the countries in Europe and the United States. Germany’s most popular imports include plastic products, food products. Moreover, Germany has also opened its doors to Asia’s leading exporter, China. There are some imports to Germany from China as well. These products include precious gems, agricultural products, and minerals.
Indeed, Germany has come a long way in terms of exporting its products. The fact alone that its exports contribute significantly to its economic growth shows that German products are beyond compare.
Today, Germany continues to trade with other countries and maintain its economic ranking in the global economy. In addition, German products continue to lead in the global market as well. Despite the fact that these products are relatively expensive, people still prefer these products over the others for its quality.
