Germany is an industrialised nation with strong international links and a pronounced export focus. In the annual World Trade Organisation (WTO) rankings, Germany regularly places among the three largest exporters behind China and the USA. In 2019 the foreign trade balance closed with a surplus of 223 billion euros, with exports by German companies (goods and services) amounting to 1,327 billion euros while the value of imports totalled 1,104 billion euros.
Ranked seventh in the world’s most competitive economies
Germany is strongly integrated in the global economy and benefits from free trade and open markets. The World Economic Forum’s “Global Competitiveness Index 2019” ranks Germany seventh in the list of the most competitive countries. In all, 141 economies were rated.
More than a million businesses trading abroad
Every second euro earned in Germany is generated through an international business transaction and almost one job in four is dependent on exports; in industry it is even one in two. Over one million companies engage in foreign trade. Some 10,700 firms domiciled outside Germany played a significant role in German foreign trade; the Association of German Chambers of Commerce and Industry (DIHK) estimates that more than 7 million employees work for German companies abroad.