germany trade statistics

© 2020 American Express. 8. “XE Currency Charts: USD to EUR”, xe.com; http://www.xe.com/currencycharts/?from=USD&to=EUR&view=1Y The U.S. dollar-euro (USD-EUR) exchange rate has traded within a two percentage point range from August 2016 to August 2017, with the dollar beginning to strengthen versus the euro later in 2017.8 According to data from The World Bank, Germany's inflation crept up from 0.234 percent in 2015 to 0.483 percent in 2016.9 The impact of the German marketplace extends beyond the country itself, given that the country hosts some of the world's largest international trade show events, including MEDICA, the Hannover Fair, CeBIT, Automechanika, and the ITB Tourism Show.10, Germany's relatively low unemployment rate, coupled with a strong per-capita income, makes German consumers a good target for U.S. marketing. U.S. companies should also consider the diversity within the country, as desires and interests tend to differ from state to state, according to the U.S. Department of Commerce's export.gov site.24 Before international traders do business in Germany, they must register in the public Commercial Register and/or the local trade office. In October 2017, the German government raised its official GDP forecast for 2017 to 2 percent (from a 1.5 percent forecast in April), approximately matching the 1.97 percent forecast by the Organization for Economic Co-operation and Development (OECD).2,3 Germany's GDP of $3.466 trillion comprises 5.59 percent of the world's economy. 13. “U.S. 1. “Germany: Market Overview,” U.S. Department of Commerce; https://www.export.gov/article?series=a0pt0000000PAtqAAG&type=Country_Commercial__kav Christine Parizo is a professional writer specializing in business and technology. 14. “Consumer Markets and Retail Landscape,” Germany Trade & Invest; http://www.gtai.de/GTAI/Navigation/EN/Invest/Industries/Consumer-industries/consumer-markets-retail.html Domestic demand is predicted to take over as the main source of growth in Germany, with high household demand and increased government spending. The United States of America remained the most important importing country for German goods in the last three years. Trade Balance (2018) $269,714,112,173. Germany – Economic forecast summary (June 2017), Organisation for Economic Co-operation and Development; http://www.oecd.org/eco/outlook/economic-forecast-summary-germany-oecd-economic-outlook-june-2017.pdf h�̕mo�8ǿ�^v��-Y~ � M�l=lE�t�����J"�ce����鏒����t/�cJ")Z䏑a���0�,C' 7. “Census Bureau: Top Five U.S. Trading Partners in Goods in 2016: China, Canada, Mexico, Japan and Germany,” U.S. Census Bureau; http://www.prnewswire.com/news-releases/census-bureau-top-five-us-trading-partners-in-goods-in-2016-china-canada-mexico-japan-and-germany-300403624.html 10. “Germany: Market Overview,” U.S. Department of Commerce; https://www.export.gov/article?series=a0pt0000000PAtqAAG&type=Country_Commercial__kav 25. “Business Registration,” GTAI Germany Trade & Invest; http://www.gtai.de/GTAI/Navigation/EN/Invest/Investment-guide/Establishing-a-company/business-registration.html Packaged medicaments (9.3 percent) and vehicle parts (4.9 percent) were second and third.21 According to published reports, imports to the U.S. from Germany rose 8 percent on the year in the first quarter of 2017.22. Last year, Germany exported goods to the value of 118.7 billion euros to the United States. Ibid. 4. Germany ranks 9th out of 136 countries in the WEF's Global Enabling Trade Index. In 2018, Germany's exports per capita were $18.2k and its imports per capita were $14.5k. According to the OECD forecast, because Brexit concerns may affect the euro, some international trade businesses are considering shifting investments from the United Kingdom to Germany, potentially making it a more attractive trading market.4, The U.S. exported a total of $49.36 billion in goods to Germany in 2016, compared to $49.95 billion in 2015, according to the U.S. Census Bureau.5 Despite the slight, the U.S. Department of Commerce expects Germany to remain attractive to numerous industries for international trade due to its central location in the EU, world-class infrastructure, high levels of productivity, and a highly skilled labor force.6 The top three categories of U.S. exports to Germany in 2016 were passenger cars; civilian aircraft, engines, and parts; and pharmaceutical preparations.7, As a member of the EU, Germany's official currency is the euro.

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