Germany or officially the Federal Republic of Germany (Bundesrepublik Deutschland) is a federal parliamentary republic in heart of Europe. It includes 16 fundamental states, covers an area of 357,021sq km and has a wide range of temperate seasonal climate.
With a population of over 82 million, Germany is the largest country in European Union (EU). Germany’s capital and largest metropolis is Berlin. The country’s other major cities include Hamburg, Munich, Cologne, Frankfurt, Stuttgart, Düsseldorf, Leipzig, Bremen, Dresden, Hannover and Nuremberg.
The Federal Republic of Germany was one of the founding members of the European Economic Community in 1957 and the European Union in 1993. This country is part of the Schengen Area and became a co-founder of the Eurozone in 1999. Germany is a member of the United Nations, NATO, the G7, the G20, and the OECD. Known for its rich cultural history, Germany has been continuously the home of influential and successful artists, philosophers, musicians, sport professionals, entrepreneurs, scientists, engineers, and inventors.
In the 21st century, Germany is a great power with a strong economy; it has the world’s 4th largest economy by nominal GDP (Gross Domestic Product) $3,686,606 million in 2017 which shows 2.2% grow comparing with 2016. As a global leader in several industrial and technological sectors, it is the world’s third-largest exporter and importer of goods. A developed country with a very high standard of living, maintaining a high social security and universal health care system, environmental protection, and a tuition-free university education which train experts who transfer their leading edge scientific know-how to the commercial sector; turning sophisticated ideas into products for the global market.
Germany as the richest country in the European Union is regarded as the European economic engine. With almost 40 million highly labor force – including 4 million entrepreneurs – based on a social market economy, a large capital standard, a very low level of corruption and a high level of creativity and innovation not only in Europe but also plays an important role in global market.
Germans are one of the happiest population about their economic situation and their economic future. The country is part of the European single market, which means more than 508 million consumers. Germany introduced Euro as the common European currency in 2002. It is a member of the Eurozone, which represents around 338 million citizens. Its financial policy is set by the European Central Bank with its headquarter in Frankfurt, the financial center of continental Europe.
With a stable, growing economy, Germany falls into the top ranks international economic policies. Since long time Germany is one of the most attractive business locations in the world. The leadership economy in Europe, the important global role, high productivity and low risk, open market, competitive tax regulations and a wide range of funding options offer a strong basis for investment, are only some reasons for international interest in investment in Germany
World’s top-ranked infrastructure and highly qualified specialists and workforce are further factors that contribute to sustainable business success. In addition, German law generally makes no distinction between Germans and foreign nationals regarding investments or the establishment of companies.
Reliable laws and certainty, also the respected competition law, enable foreign companies to plan their investments effectively and licenses granted by the authorities provide a secure base for breaking ground on a construction project or operating a plant. According the federal system, structuring and coordinating economic and financial policy is the joint task of central government, the federal states and municipalities. Furthermore, the Federal Government seeks the advice of independent economists every year to achieve the economic goals defined for each year.
The “Made in Germany” brand has been a seal of quality for over a century. The German economy is traditionally strong in the areas of mechanical and electrical engineering, the automotive industry, aerospace and logistics. In addition, German companies are leaders in the development of new technologies for the environmentally friendly production of electricity and pioneering nanotechnologies.
Being home to the modern car, the automotive industry in Germany is regarded as one of the most competitive and innovative in the world, and is the fourth largest by production. The top 10 exports of Germany are vehicles, machinery, chemical goods, electronic products, electrical equipment, transport equipment, basic metals, food products, pharmaceuticals, elastic and plastics.
German Companies have a significant contribution in global business. 30 Germany-based companies are included in the DAX, the German stock market index. Globally famous brands including Daimler, BMW, SAP, Volkswagen, Audi, Siemens, Allianz, Adidas, Porsche, Deutsche Bahn, Deutsche Bank, Bosch, Telekom, Bayer, BASF, Merck and many others.
Furthermore, Germany is known for its large contribution of specialized small and medium enterprises, identified as the ‘’Mittelstand’’ model. Around thousands of these companies are global market leaders in their business field and are increasing so fast. Berlin developed a booming, cosmopolitan center for startup companies and became a leading location for venture capital funded firms in the European Union.