GERMANY EXPORT IMPORT & ECONOMIC ANALYSIS

GERMANY EXPORT IMPORT

German Economy Overview 


Germany is the third largest exporter in the world after China and the USA. Germany is also the second country with the highest current surplus after China. German companies are known for their quality in the international arena. Germany is Europe's largest industry.

Germany has a stable economy, which gives importance to qualified labor force, strong capital structure, low level of corruption and infringement. The institutional hierarchy and risk aversion attitude in the German business culture is common.

Germany is a founding member of the European Union and the Eurozone. The economic model of Germany is called the social market economy. Germany is the largest producer of the European market addressing more than 500 million consumers. According to the agreements between the members of the European Union and the EU legislation, the export and import of the member countries is very easy. There is no customs wall between the member states of the European Union. Every country can export to another country as if it were selling goods within its own country.

The German economy is focused on the production of industrial goods and services. For example, German automobiles, machinery and equipment, chemical products are often at the forefront with the top segment products of their respective classes.

Germany Exports

Germany's export share increased by 2.4% in 2018 compared to the previous year. The export volume of Germany, which is USD 1.5 trillion, is the largest export country in the United States with an export share of 130 billion USD. 66% of exported German products stem from sales to other EU member states.

Germany's exports of goods plus services constitute 47.3% of the total German Gross Domestic Product. Germany is a country that exports almost half of its production. According to 2018 statistics, 44 million people are employed in the country with a population of 82 million.

 Germany's Most Exported Products

  1. Cars: 258 billion USD
  2. Machines: 246 billion USD
  3. Electric machines: 149 billion USD
  4. Medicine: 84 billion USD
  5. Optical, medical device: 73 billion USD
  6. Plastics, plastic products: 63 billion USD
  7. Aircraft, spacecraft and parts: 41 billion USD
  8. Iron or steel goods: 30 billion USD
  9. Mineral fuels including oil: 26 billion USD
  10. Iron and steel: 26 billion USD

Well known German Exporter Companies 

  • Adidas (clothing / accessory products)
  • Allianz (insurance services and products)
  • BASF (chemical products)
  • Bayer (diversified chemicals)
  • BMW Group (automobile)
  • Continental (automotive parts)
  • Daimler (automobile)
  • Fresenius (medical equipment)
  • Heidelberg Cement (building materials)
  • Henkel (household products and personal care products)
  • Linde (chemical products)
  • Merck (pharmaceutical)
  • Siemens (engineering)
  • Volkswagen Group (cars)
GERMANY EXPORT IMPORT

Germany Imports

Germany imported USD 1.17 trillion in 2017. Germany is the third most importing country after the USA and China. Germany makes 65% of its total imports from European Union countries.

  1. Germany's Most Imported Products
  2. Machines: US $ 150 billion
  3. Electric machines: $ 147 billion
  4. Cars: $ 124 billion
  5. Oil and mineral fuels: $ 96 billion
  6. Medicine: $ 54 billion
  7. Plastic products: $ 44 billion
  8. Optical and medical device: 40 billion dollars
  9. Organic chemicals: 34 billion dollars
  10. Iron and steel mines: 29 billion dollars
  11. Iron or steel goods: 23 billion dollars

Top Exporter Companies in Germany

  • 7Trade (mobile phones)
  • Euro Car Export Ltd (automobile)
  • Flaskamp GmbH (liquid soap, cleaning products)
  • IMarketing Skirde Ltd (sportswear)
  • Kareva Marketing GmbH (drilling chemicals)
  • Kgz Ersatzteile (diesel fuel pumps)
  • Merbstrade (crude oil)
  • Origiparts GmbH & Co. KG KG (motors, electric motor parts)
  • Tieig Industrial Group (industrial adhesives)
  • Weser Apotheke (medication)

Documents used to export to Germany

- Commercial invoice: mandatory paperwork, at least 2 copies are required.
- Consignment Paper: Bill of Lading, CMR or airwaybill
- Certificate of Origin
- Package list: Not mandatory, but simplifies customs procedures.
- Insurance certificate: mandatory paperwork (if an incoterms were used, including insurance)

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GERMANY EXPORT IMPORT & ECONOMIC ANALYSIS
Germany is the 3th most exporting and importing country in the world. Germany is the second country with the highest export surplus. Germany is the leader economic power of the EU
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