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The euro is the currency of the European Monetary Union and after the US dollar the second most important member of the international currency system. Together with the national central banks, the European Central Bank (ECB), headquartered in Frankfurt/Main, is responsible for monetary policy with regard to the euro. The euro is the official currency in 20 of the 27 EU member states. The euro was physically introduced in “Euroland”, including Germany, on January 1, 2002, having served as a currency of deposit since the beginning of 1999.
Germany is one of the leading export nations. In 2022 it exported goods and services valued at some 1,576 billion Euros. The balance of foreign trade fort he year posted a surplus of 81 billion Euros. Germany has above all the strong performance of its industry to thank for its strength in exports. The manufacturing industry sells 50 percent of its goods abroad. In some sectors the volume of foreign trade is even higher still: The automobile industry netted an export share of 76 percent.
→ bmwi.de
The World Trade Organization (WTO) was founded in 1995 and serves to implement the existing treaties on international trade. It is likewise a forum for negotiation on liberalizing global trade. In the present Doha round Germany has been expressly championing better integration of the developing countries into world trade. The WTO is based in Geneva (Switzerland).
→ wto.org