Among all the developed countries across the globe, Germany stands in the top 5, and when we discuss European statistics, it grabs the top position without any doubt. The primary reason behind the steep development of the country is the establishment of a plethora of industries. These industries are widely known for the number of quality products manufactured monthly. If we go by the numbers, Germany stands in the 3rd rank when it comes to the export of a range of goods and services. As per economists and experts, this European country has a significantly low chance of going down in any financial crisis. You might wonder about the powers working behind the scenes to make the country a sustainable and stable economic hub. This blog will discuss a few factors that we believe are the strongest in Germany. Now, without any adieu, let’s dive right into it.
Germany How It Developed Over The Last 50 Years
Aviation & Automotive
Technological advancement is the key factor behind a country’s development, and Germany is no exception. Various industries are working solely on developing eq equipment and machinery capable of providing top-notch engineering marvels to consumers. Germany boasts an excellent reputation in the field of automotive and aviation. A few brands that are present globally are Volkswagen, BMW, and more. Not just engineering, these automobile brands are also focused on offering the utmost comfort and safety to consumers. The workforce is highly qualified and research-oriented.
Medicine
Apart from the automotive sector, Germany has high medical and chemical research rankings. The export numbers are also exceptionally high, and Germany stands at rank 1 in terms of chemical export by any European country. The infrastructure is backed up by an enhanced and well-built education system that offers them a workforce ready to work without any further training. Moreover, if we are to discuss the global numbers, Germany holds the 3rd rank, with China and the US having the top positions. Germany’s total number of chemical product exports by a whopping $168 billion. The country employs more than 300,000 people in this particular industry.
Consumer Services
The unemployment rate is significantly lower, and the country also has minimal consumer debt numbers. Based on the population and purchasing power, Germany is the largest producer of all sorts of consumer goods. It is also one of the largest markets for the same across Europe. The primary reason behind its high production capacity is that it is located in the center of the continent, with both eastern and western Europe. These consumer brands offer their employees highly flexible working offers and opt for e-commerce platforms for direct delivery.
Consumer Services
Electronics
The country also dominates the electronics market, with an annual turnover of more than $142 billion. It comprises many products, from home appliances to smartphone chips and lighting. Germany also has several industries in the field of automation and lighting equipment. You might have heard of Mittelstands, a stadium of companies operating in diverse sectors. The fresh talent produced by an excellent education system is more than capable of becoming a workforce that can fetch the investment cost lower and increase the profits. To understand the importance of these companies, you should know that each one doesn’t employ any more than 500 workers, and yet, when combined, these companies are the employers of 80% of the total workforce.
