Global trade partner
Germany supports the free market and is firmly integrated in the global economy.
Insight
Partner in the EU and worldwide
Germany is particularly strong in exports. Thanks to its numerous trade agreements, the country has secure trading relationships.
Background
A modern trading nation
Germany continues to rely on its great expertise in industry whilst remaining a driver of digital progress.
Milestones
The success story of the German economy
Important milestones on Germany’s path to becoming a global player
1955
1955
On 5 August the one millionth VW Beetle leaves the assembly line in Wolfsburg. An absolute top seller, the car becomes a symbol of what went down in history as the Economic Miracle.
1969
1969
In Toulouse (France) the Airbus consortium is founded as a Franco-German joint venture. Today, Airbus S.A.S. is the world’s second-largest aircraft manufacturer.
1989
1989
Postal Reform I marks the beginning of the privatisation of the giant publicly-owned corporation that is Deutsche Bundespost. The privatisation is regarded as one of the biggest reforms in German economic history.
1990
1990
The Treuhandanstalt, a government-owned but independent trust agency, begins transforming the socialist planned economy of the former East Germany with its several thousand state-owned enterprises into a market economy.
2002
2002
From 1948 until 1998 the Deutsche Mark is the official currency as “book money”, until 2001 as cash. It is replaced on 1 January 2002: Germany and 11 other EU Member States introduce the euro.
2018
2018
In January 2018 the German share index DAX reaches an all-time high of 13,595 points. It reflects the performance of the 30 biggest German companies with the highest sales.
2020
2020
In May 2020, the Corona pandemic meant 7.3 million employees were working reduced hours – more than ever before. The system involves a temporary reduction in working hours, whereby compensation is provided for a portion of workers’ lost earnings. The aim here is to avoid redundancies.
