Germany as an export nation
Germany is closely interwoven into the global economy. Exports account for one in every two euros earned. According to the World Trade Organization’s annual rankings, Germany ranks as the world’s third-largest export Export Germany is one of the leading export nations. In 2017 it exported goods and services valued at some 1,279 billion Euros. The balance of foreign trade fort he year posted a surplus of 245 billion Euros. Germany has above all the strong performance of its industry to thank for its strength in… Read more › nation, following the US and China. Germany’s key export goods are vehicles and vehicle components, with a volume of 210 billion dollars in 2021. These are followed by machines (196 billion dollars) and chemical products (137 billion dollars). Along with computing and optics, these three sectors account for almost half of Germany’s export volume. Germany’s partners in the EU are the primary target market, followed by the US and the People’s Republic of China. The majority of imports in 2021 came from China, the Netherlands and the US. Trade and business relationships with Asian countries are continually growing in importance. Almost half of German businesses have invested abroad, and German companies employ over 7 million people abroad.
European logistics hub
Germany is a transhipment hub for the flow of goods in Europe and the world as a whole. More goods transit through Germany than any other EU country. Three million people are employed in the logistics sector. The Port of Hamburg Hamburg In the city and state of Hamburg it is the port that is the power-house of the economy, though with Airbus, Otto Versand and Beiersdorf also located here, this is not immediately apparent. The tanker terminals, mean that almost all the major oil-refining companies are represented in the port. For… Read more › , which processes around 9 million shipping containers each year, is a gateway to the world. Frankfurt Airport handled around 2.2 million tonnes of air freight in 2021, substantially more than any other European airport.