Market Overview
According to this article I found, the German economy is the
world's fourth biggest and stands for more than one-fifth of the European
Union's Gross domestic product. Germany is the United States' biggest European
exchanging accomplice and the 6th biggest market for U.S. exports. Germany's
"social market" economy generally takes after free-showcase standards
with a significant level of government control and far reaching social welfare
programs. Germany currently stands as the largest consumer market in the European
Union with approximately a population of 80.6 million. Even with all the great
aspects of Germany’s marketplace, they still manage to go above and beyond outside
their own boarders. As Germany proceeds with success in the marketplace, they
expect to keep growing above their average every year. The labor market in
Germany has remained strong since 2015 when employment rose to an all-time high
of 43 million. This was an increase of 330,000 after 2014 and as of 2016,
employment keeps rising. Unemployment fell more than 40% since its peak in
2005. Germany has come a long way when it comes to employment rates within its
country. As for opportunities, for U.S. companies, the German market to be an
important element of any export strategy to Europe. When doing business with
Germany, one can count on high levels of productivity, excellent engineering,
and a highly skilled labor force that is guaranteed to deliver quality
products.
Work Cited:
Chapter 1: Doing
Business in Germany http://2016.export.gov/germany/MarketResearchonGermany/CountryCommercialGuide/DoingBusinessInGermany/index.asp
Good overview. Just understanding the reach of Germany's utility/energy industry, logistics and transport, automotive, and mobile phone/IT industries gives one a clear sense of how global their influence is. Take a look at EoN, Deutsche Post/DHL, T-Mobile, Siemens, Mercedes, BMW, Volkswagen, Porsche and Audi. (There are some 750,000 people working in automotive alone!)
ReplyDeleteGreat post. When people think of quality, German made comes to mind almost instantly. It was a surprise to me that Germany is the fourth biggest economy in the world. The US should try to emulate Germany when it comes to training its' workers so America can become a leader when it comes to producing quality products.
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