Germany`s economy continues to be the most dominant in Europe. Every one in five dollars generated in the European Union comes from the industrial sector in Germany. Other factors accounting for the strength of Germany`s economy are the regional trade, the manufacturing sector and the exports. It is advisable to consult a law firm in Germany before deciding to invest in the local economy.
Germany hosts some of the most appreciated world brands, including BMW, Bosh or Siemens. These German companies manufacture a large range of quality products like: automobiles, machinery, electronics and chemical products. Germany is the only country in Europe to account for 10% of the region exports, sustaining a very developed trade network world-widely. The German economy is also the largest contributor to the European Union budget which translates into domination over the Euro zone. This powerful economy keeps attracting new foreign investors looking to access the German market, especially the exports area. Our attorneys in Germany can provide further information about the import-export legislation in this country.
Since the economic crisis in 2009, Germany exported 1.339 trillion worth of goods world widely. 70% of the overall value of global shipments is accounted on Germany`s exports. A third of the total German economic output is generated by export activities of companies operating in this area. The following ten export products represent the highest dollar value in German global shipments in 2016:
• Machinery (computers included);
• Electrical equipment and machinery;
• Medical, technical and optical apparatus;
• Plastic articles;
• Aircraft and spacecraft technology;
• Iron or steel articles;
• Oil and mineral fuels;
• Organic chemicals;
A world leading exporter, Germany`s economy remains an attractive destination for international businesses. The German legislation for foreign investment provides that no restrictions apply to doing business in Germany, promoting the principle of freedom of foreign trade.
If you need more details about the business legislation in Germany, please contact our local team of lawyers.
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