TLDR Germany's economic success and stability can be attributed to factors such as its focus on high-quality goods, fair compensation in the labor market, a strong work culture, and a well-thought-out social policy.
The German chemical industry became the most advanced in the world, and by 1914 the country was producing half the world's electrical equipment. The rapid advance to industrial maturity led to a drastic shift in Germany's economic situation – from a rural economy into a major exporter of finished goods.
The strongest sectors are vehicle manufacturing, electronics, mechanical engineering and the chemical industry. Alongside China and the USA, Germany is one of the world's three largest export nations. In 2022, Germany exported goods worth 1,576 billion euros. The export quota was 50.3 percent.
Germany is the fourth largest economy in the world after the United States, China and Japan and the largest economy in Europe. It is the third largest export nation in the world. At 70%, the service sector accounts for the largest share of the country's gross domestic product.
As if this were not sufficient reason for pessimism, Germany is suffering from poor demographics, fractious politics, and a hawkish European Central Bank resorting to high interest rates to regain inflation control.
ENDING my business in Germany was The BEST financial decision I ever made
Why is Germany allowed to have an army?
Although a defeated West Germany was forbidden from having a standing army immediately after the end of World War II, the Allies quickly changed that stance as the Cold War began and by 1955 Germany's Bundeswehr came into existence as a NATO member with the chief mission to hold off the threat of a Soviet invasion.
In 2022 the median and mean wealth per adult in Germany was 256.180 USD, a decrease of 14.360 USD from 2021 figures, making the federal republic the 16th wealthiest country in the world.
Export-This is no doubt the first reason. Germany is in third place here just after USA and China. They export many essential commodities like cement,motor vehicles, drugs,chemical products etc thoughout the entire world. One of their richest source of income is car export.
Some of the top highest paying jobs in Germany are Doctor, Pilot, Sales manager, Legal consultant, Risk Manager, Software architect, Portfolio manager, and Tax Advisor.
The UK is home to a number of large energy companies, including two of the six oil and gas "supermajors" – BP and Royal Dutch Shell. The UK is also rich in a number of natural resources including coal, tin, limestone, iron ore, salt, clay, chalk, gypsum, lead and silica.
Germany has paid compensation and restitution for decades
The Claims Conference has been pursuing reparations from the German government since 1951, when it was founded by a coalition of Jewish organizations, and has secured more than $90 billion in payments.
However, the Germans are excellent at many things. The reasons are pretty simple, they have always had a good work ethic, and have always been a practical people. If something doesn't work the first time, they go at it from another angle, if that way works, they use it, and if they can improve on it, they will.
After World War II both West Germany and East Germany were obliged to pay war reparations to the Allied governments, according to the Potsdam Conference. Other Axis nations were obliged to pay war reparations according to the Paris Peace Treaties, 1947.
Germany.") As of 31 May 2023, the Bundeswehr had a strength of 181,672 active-duty military personnel and 81,612 civilians, placing it among the 30 largest military forces in the world, and making it the second largest in the European Union behind France.
Exports The top exports of Germany are Cars ($135B), Packaged Medicaments ($64.6B), Motor vehicles; parts and accessories (8701 to 8705) ($64.5B), Vaccines, blood, antisera, toxins and cultures ($45.6B), and Planes, Helicopters, and/or Spacecraft ($21.2B), exporting mostly to United States ($135B), China ($121B), ...
Munich's economy is based on high tech, automobiles, and the service sector, as well as IT, biotechnology, engineering, and electronics. It has one of the strongest economies of any German city and the lowest unemployment rate of all cities in Germany with more than one million inhabitants.
Due to its strict rules and regulations, the crime rate is low, making Germany a good place to live. The German government values the safety of its citizens and visitors. According to the Global Peace Index, Germany ranks 16th out of 163 countries for peaceful conditions of living.
Germany has over 2 million millionaire households representing over 8% of the total population. Most are self-made millionaires rather than inheriting their wealth.
Eight out of the top ten districts and cities with the highest density of income millionaires are found in southern Germany. These include Starnberg, Miesbach, Memmingen, and Landshut in Bavaria, as well as Baden-Baden and Heidelberg in Baden-Württemberg. How rich are Germans in general?
The US, Russia and China have the world's most powerful militaries while the UK comes in seventh, according to annual rankings produced by a defence sector analyst. Global Firepower's 2024 Military Strength Rankings evaluated 145 countries, assessing them based on their military capabilities.
As of January 2024, China had the largest armed forces in the world by active duty military personnel, with about 2 million active soldiers. India, the United States, North Korea, and Russia rounded out the top five largest armies.
