The economy of Germany is a highly developed social market economy. It has the largest national economy in Europe, the third-largest by nominal GDP in the world, and fifth by GDP (PPP). Due to a volatile currency exchange rate, Germany's GDP as measured in dollars fluctuates sharply. In 2017, the country accounted for 28% of the euro area economy according to the International Monetary Fund (IMF). Germany is a founding member of the European Union and the eurozone.

Quotes

• Europe’s once formidable industrial base has eroded in large part due to the ever rising burden of regulation. Germany’s economy, the most powerful economy in the EU, is barely the size of that of California.
  • Joel Kotkin, "The myth of America’s decline: As China struggles and the EU stagnates, the US continues to thrive – even despite its dreadful leaders" (8 March 2024), Spiked

External links

• Encyclopedic article on Economy of Germany on Wikipedia