Schmitt and Sons

The German economy is a highly developed social market economy. This country has the biggest economy in Europe, the fourth biggest economy in the world based on nominal GDP, and the world’s fifth biggest economy based on GDP (purchase power parity). According to the IMF, Germany held 28% of the Eurozone economy in 2017. Germany is a founding member of the EU and Eurozone. Germany held the record of the biggest global trade surplus worth of 310 billion dollars which made the country one of biggest exporters in the world, and its goods and services exports was 1448.17 billion dollars in 2017. The service sector, industry, and agriculture hold 70, 29.1, and 0.9 percent of the total share of Germany’s GDP, respectively. Exports of Germany encompasses 41% of its national output. Germany’s top 10 exported good are vehicles, machinery, chemical products, electronic products, electric tools, medical products, transportation equipment, base metals, food products, rubber, and plastic. The German economy is the biggest production economy in Europe, and it is less likely to take effect from the financial stagnation. The country conducts applied research with real industrial value. The German economy is considered as a bridge between the latest academic insights and product advancements and industry-oriented process, producing a big deal of knowledge in its laboratories. In July 2017, the IMF issued another "good health status” for the economy of Germany, providing recommendations for maintaining this level in long run. The current book probes and studies the reasons and roots for Germany’s industrial and economical progress.