Germany is the largest economy in Europe and following the USA and Japan, it is the third most powerful industrial power in the world. Considering per capita income, Germany ranks five in the world. The economic growth of Germany in 2007 was equal to 2.4. With an export volume of 1.33 billion dollars, Germany is one of the largest exporters in the world.
The main products of Germany include engineering products specifically electrical products, mechanical products, car manufacturing, chemical substances, textiles, aerospace, food products, and vehicles. The heavy engineering industries are concentrated in Ruhr Region, chemical industries are concentrated around Rhine River, and motorized vehicles are concentrated in large state centers including Stuttgart.
In 2002, Germany was the fifth largest energy consumer in the world. In the same year, Germany was the largest consumer of electricity among European countries. In the same year, German authorities added the plan to supply half of the energy consumption of the country from renewable energy sources to their agenda. Currently, Germany is a pioneer in constructing and implementing wind turbines and solar energy in the world.
Among the 500 largest companies in the world based on the size of the capital, 37 companies are located in Germany. The top ten companies are Daimler, Volkswagen, Allianz (the most profitable), Siemens, Deutsche Bank (second most profitable), AAN, Deutsche Post, Deutsche Telekom, Metro, and BASF, respectively. Deutsche Post and Bosch have the largest number of employees. Some of the most famous brands from Germany are Mercedes-Benz, BMW, Adidas, Porsche, Volkswagen, and NIVEA.
Except for coal and relatively small mines of iron ore, Bauxite, copper, nickel, tin, silver, potash, and salt, Germany doesn’t have a lot of natural resources and the country is severely dependent on importing raw material. Banking and financial affairs are among the most important sources for foreign currency and Frankfurt is considered one of the main financial and commercial hubs in the world.