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Germany - Economy
Transcript of Germany - Economy
Imports and Exports/ Trade Balance
Standard of Living
Imports and Exports/ Trade Balance
- Germany is a country with one of the highest living standards in the world.
- The UN's HDI claims Germany to be one of the most developed countries in the fields of literacy, life expectancy and per-capita income.
- The 2012 HDI places Germany in
place out of about
- The houses in Germany are considered to be of good quality.
- Germany used to be divided into EAST GERMANY and WEST GERMANY before they united.
Because of this, the difference in houses on each side are very noticeable.
WEST GERMANY -
Houses Tend to be more modern, since they were built after WWII.
EAST GERMANY -
These houses are older, being already built before the conclusion of WWII.
Every Citizen Has A Right To Proper Housing
- the costs for rent, including the prices of electricity and heating, are charged at very, very low levels.
This is so that everyone can afford a house.
- because of this, the government gives out financial aid for the owners of a house who dedicate too much of their income to the house costs.
The living areas vary in property size, and range from apartment to mansion.
Obviously depending on the size, the prices differ. But the houses are definitely affordable.
Full-time schooling, from ages 6 to 16, is mandatory, but also
There is a national "mission" that has goal to obtain standardization of curriculum, requirements and values.
- the education system provides many books and materials for studying for no cost.
- if there is a family who maybe can't support an education for their children or even themselves, there are forms of support and financial help offered.
-The medical care in Germany is known to be EXCELLENT!
One Success Story
Tuberculosis (a disease that causes swellings on mucous membranes) used to be very common in Germany. However, thanks to the medical team, it was conquered and now is very rarely seen in someone. This was, and still is, considered a truimph!
- Religious organizations, municipalities or proprietary institutions own hospitals.
Usually by one or several physicians.
The East Side created a wide-spread health care system. It was a world-wide system where free...
...are financed by a compulsory state insurance system.
Standard of Living
Strength of the Economy
Life expectancy is the average number of years a person is expected to live.
, the life expectancies are:
- universities all around Germany enable students to take their time with their learning abilities, studying for as long as they need.
- since education is a very essential aspect of the country, seminars, libraries, and classrooms have been given too many kids.
That's in a way good, because it shows that the citizens are serious about their education.
-Because of this, there were private schools opened, and there is debate going on about whether a tuition should be made.
Students at German schools are known to be "high-performing."
-The system is a universal multi-payer system.
It has two primary types of health insurance:
- In 2004, health-care was
funded by the government
was funded privately.
Germany is the third largest exporters and importers in the world. Despite the fact that this country has a limited amount of resources, they have earned a global reputation for high-quality manufactured products.
Germany has a total Value of Exports of
The primary Exports of Germany are:
As of 2006, the amount of German exports was the highest in the world.
computer and electronic products
Primary exports partners:
The total amount of imports in Germany is
Germany`s Primary imports are :
data processing equipment
For example, raw materials are imported for its steel industry ; as well as natural gas and oil.
Primary import partners
European Union 54.8 percent
China 8.9 percent
Untied States 5.5 percent
Switzerland 4.2 percent
As you can see the primary import/export partners are similar to the export partners.
Germany runs a consistent trade balance primarily due to the quantity of there export. This country has "trade surplus because they export more goods then they import.
About one in every four euro is earned from exports.
TAKE A LOOK AT THIS CHART
Value of exports
Value of imports
Trade surplus or Deficit
Surplus + $0.216 trillion
There are many different methods to import and exports goods between countries. Depending on the location , countries can use trains, ships (supertanker) , container freight and electric power lines.
Exporting goods from Germany to the United States - they would probably use ships (supertanker, cargo ships, container ships) to cross the Atlantic ocean.
- Germany is known to be one of the...
Ranging from education, to housing and to medical care, there are high standards set everywhere.
$3.428 trillion as of 2012
The GDP has increased by
from 2012 - 2013
GDP per capita
The unemployment rate is at a low of
whereas, to compare, Canada is at
and France is at
Average Gross Salary
$4076 per month
A majority of the houses are very well built, with strong walls and protective roofs. People in Germany live in very nice houses, whether it be on the East or West Side.
The strength of Germany's economy is very dependent on the exceptional skill of its people and the large volume of exports.
The country once had a trade deficit of
. It was with Libya, Norway and Russia for imports on energy.
Despite a past deficit, Germany has had many positive things strengthen its economy. Today it has a trade surplus!
STATES OF AMERICA
- Overall, globally, Germany's trade surpluses rely on exporting their materials to the EUROZONE.
- The value of the EURO (the currency in Europe) also affects the exports' performance.
- Known as Europe's "industrial powerhouse."
- Germany, all by itself, prevented and stopped the EUROZONE into falling again into recession.
- school-time is 25% shorter than most countries.
- It was the only country that was wealthy enough to actually save the euro.
COMPANIES REFUSE TO SPEND TOO MUCH MONEY OR GO BEYOND THEIR NEEDS.
ARE SAID TO BE "UNCOMFORTABLE" WITH THE CONCEPT OF BORROWING MONEY. IT IS ONE OF THEIR CULTURAL DIFFERENCES, AND THEY FEEL GUILTY IF THEY DO BORROW.
A GREAT AND STRONG ECONOMY
• The economies of most advanced countries need to make a choice between investing in either high tech or manufacturing. Germany has kept both.
• Germans believe that companies need to make something. For this reason it has a strong manufacturing sector, which has made it a major exporter in the world. Only China exports more goods
• Germany is known for making products that are high quality
and innovative. This makes them a little expensive but consumers
will pay for products that are high quality and reliable, like
• The education system in Germany produces many skilled workers and innovative thinkers.
• University is free for Germans, which makes is easier for people to receive a university education.
• However, graduation from a trade school is considered just as important and respectable as a University education.
• Many people belief that Germany’s education system has produced very creative researchers and engineers who come up with new and innovative ideas, which has helped the economy stay strong.
Mittlestand is the Germans name for the large number of small and medium sized business that exist in the German economy. There are about 3 million of these companies in Germany and they are part of the strength of the German economy
Germany’s small and medium sized companies are very specialized and make products that other countries cannot make or find difficult to make such as aluminum car parts for Formula 1 racing cars.
These companies are usually family owned and they do not like having debts. They work hard to make profits and keep their company successful for future generations.
They also take a lot of pride in making products that are very high quality and have a good reputation. This creates a lot of demand for their products.
Population of 2013
To Germany, I would recommend that they not put a tuition on universities, and if they do, then a very small on. I say this because:
- the country already is very wealthy, and so the extra-extra money isn't
needed at the moment.
- if there is no tuition, more people will be inclined to go to school.
But if there is a small tuition:
- financial aid is provided for the people that can't afford it
- the money can go towards building more schools, or even hiring more teachers.
Once again, there is the law-enforced healthcare and the private healthcare.
If I were to improve it, I think that I would take away the private healthcare for primarily these 2 reasons:
I can't be 100% positive, but the private-funded customers might be treated a bit better.
Without people getting the private care, people who maybe can't afford it will feel equal and not poor.
As mentioned previously, Germany's trade surpluses rely on exporting materials to the EUROZONE.
I would suggest to the country that they should find other sources to be dependable on as well as the EUROZONE, just in case a problem arises in the economy.
As they do not like to borrow money from other countries, I believe that they should at least open up to the idea so that just in case they fall short of money, they have a plan to fall back on.
Work hours, as well as school hours, are shorter.
This means that:
People will most likely keep their job, since they are not at it 24/7.
A stronger connection is created between employers and employees, since you're not stressed over everything.
There is even very strong protection for employment, which is a huge benefit.
This actually strengthens the economy a lot, because more people keep their jobs and want to work.
This is Because:
Germany should continue with a mixed economy that is strong in manufacturing and in high tech products and services.
Germany exports its products to some of the largest countries in the world. However, should try to increase its exports to other part of the world where economies are growing, such as India and Brazil.
German products are known for being high quality. This makes them a little more expensive. Germany should try to find ways to keep the prices for its products as low as possible so that other countries could afford them. This would help the
m increase their exports to other countries.
Our recommendations to Germany would be:
Germany should continue to try to keep a trade surplus by not relying too much on importing products from other countries
Germany should import products when another country can make it more cheaply, such as fruits and vegetables. This will help the German people and economy because it means they will not pay more for products just because they are made in Germany.
Germany should also continue to import products that they can use to manufacture better products. For example, it makes sense for Germany to import steel and metal and use these imports to make cars that they can then export to other countries. This is how importing can help Germany keep a trade surplus.
With these recommendations Germany will continue to be a strong country.