The German economy is widely considered to be the stabilizing force within the EU and particularly within the Eurozone. Between 2010 and 2017, real GDP within the EU-28 grew at around one percent yearly. During the same period, the German economy grew at a rate of around two percent, a higher rate than that observed in France and Italy.

Germany has a social market economy with a highly skilled labour force, a large capital stock, a low level of corruption, and a high level of innovation. It is the world’s third largest exporter of goods. It is the worlds’ fourth largest economy by nominal GDP and the fifth one by PPP.

The service sector contributes approximately 71% of the total GDP (including information technology) industry 28%, and agriculture 1%. The unemployment rate published by Eurostat  amounts to 4.7% in January 2015, which is the lowest rate of all 28 EU member states. With 7.1% Germany also has the lowest youth unemployment of all EU member states. According to the OCDE Germany has one of the highest labour productivity levels in the world.

Almost 10 percent of Europe’s manufacturing companies are German. They generate 30 percent of the EU’s gross value added in manufacturing alone. In fact, they represent more than one fifth of all of Germany’s value added – one of the highest shares in Europe.