LEADING INDUSTRIES IN GERMANY
Germany has a developed social media market economy, the largest in Europe. The country also leads in the number of trade fairs; it is home to more than half of global trade fairs. In 2016, the country became the third largest global exporter of goods and services. Germany host 53 of the largest 2000 publicly listed companies by revenue globally.
MACHINERY AND AUTOMOTIVE INDUSTRIES
Germany has engineering tradition and continues to offer modern manufacturing solutions. This sector has more than 6,419 employees with an ever-growing workforce that generated almost 267 billion dollars in 2015. German leads in automotive industry in both production and sales. Worldwide German products are famous like BMW, Daimler-Benz, and Volkswagen for excellent engineering, design, and safety.
CHEMICAL AND MEDICAL INDUSTRY
Germany has well-developed chemical research and development infrastructure. German chemical industry leads in terms of sales within Europe and exports to other continents. In 2016, Germany recorded the third largest sale in chemical products, behind China and the US. The same year, the chemical industry employed more than 331,000 people. Medical equipment and pharmaceutical goods are among the top German exports and give the country billions of dollars. The commodities include medical supplies, life-saving machinery, and other hospital equipment.
CONSUMER AND SERVICE INDUSTRIES
Germany’s consumer spending is stable because of low levels of private debt and unemployment. Germany is Europe’s largest consumer goods producer and market. As Germany is located in the center of Europe with good infrastructure, it has advantage to access western and eastern European consumer markets. The leading consumer industries include food and beverage, textiles, garments, shoes, office supplies, computers, telecommunication equipment, furniture, tourism, and home improvements. Textile, garments, and shoes industries are the second largest industry after food and beverages.
ENERGY AND ENVIRONMENTAL TECHNOLOGY INDUSTRY
German leads in the production of green energy and environmental technologies. By 2050, Germany aims at reducing greenhouse gas emission by 80% and increase use of renewable energy by 60%. The country also has investments in wind energy, solar panels, bioenergy, energy grids, and energy storage projects. Germany has the largest electricity generation capacity in Europe, about 200 GW. The total wind energy capacity was 45 GW in 2016. Solar energy capacity also plays a big role in providing sustainable energy. The country provides incentives, infrastructure, and good environment for photovoltaic investments and energy storage.
ELECTRONICS AND ICT INDUSTRY
Germany has fifth largest electrical and electronic industries in the world. This industry employs 29% of all Research and Development employees in Germany and accounts for over 12,000 new patents annually. ICT, the country has the largest market of its kind in Europe. ICT also rides on the back of small, medium, and big companies that need smart data services and products, security technology, and automated human resource management among others.
