Germany Economy

The largest in Europe, Germany's economy is the fourth largest by nominal GDP in the the world. Germany remains the world's third largest exporter with $1.408 trillion exported in 2011 to Eurozone and other world destinations though it has relatively few raw materials and must rely on imported energy sources.

Polycentric in nature, the German economy relies on several small centers that drive revenues rather than one specific national location. Only 3 of Germany's 100 largest companies are headquartered in Berlin. Germany is also a leading country in developing and using green technologies, with countries specializing in the field earning 200 billion Euros and include power generation, sustainable mobility, material efficiency, energy efficiency, waste management and recycling, and sustainable water management.

Germany is also counted among the U.S. and Japan for being a leader in the development of bio and nanotechnologies.

The service sector accounts for 70% of the country's total GDP, with most of the country's products coming from the engineering of automobiles, machinery, metals and chemical goods. It is also the leading world producer of wind turbines and solar power technology.

The German economy still faces many challenges as it shrinks due to a weakening European demand as of late 2012, with factories slashing production. Anticipation is that growth will pick up again at some point in 2013.