Country Overview | Key Property Facts

Currency

Euro

Capital

Berlin

Major cities

Hamburg, Munich, Cologne, Frankfurt, Dortmund, Stuttgart, Düsseldorf, Hanover

Geography

Germany is the seventh largest country in Europe and, due to its central location, shares borders with more European countries than any other country on the continent: Denmark in the north; Poland and the Czech Republic in the east; Austria and Switzerland in the south; France and Luxembourg in the southwest; and Belgium and the Netherlands in the northwest.

Politics

Germany is a federal, parliamentary, representative democratic republic. The German political system operates under a framework laid out in the 1949 constitutional document known as the Grundgesetz (Basic Law).

The Bundeskanzler (Federal Chancellor) – currently Angela Merkel of the conservative Christian Democratic Union party – is the head of government and exercises executive power, similar to the role of a Prime Minister in some other parliamentary democracies. The Bundespräsident (President) – currently Horst Köhler – is the head of state, invested primarily with representative responsibilities and powers.

Economy

Inflation rate (consumer prices) 2.3% (2007 est.)
GDP (official exchange rate): $3.322 trillion (2007 est.)
GDP (purchasing power parity): $2.81 trillion (2007 est.)
GDP (real) growth rate: 2.5% (2007 est.)

Germany is the largest national economy in Europe, the third largest by nominal GDP in the world. It is also the world's top exporter, with $1.133 trillion exported in 2006, generating a trade surplus of €165 billion. The service sector contributes around 70% to the total GDP, industry 29.1% and agriculture 0.9%. Most of the country's products are in engineering, especially in cars, machinery, metals, and chemical goods.

Legal system

The judiciary is independent and remains free from interference, corruption or intimidation. The Grundgesetz provides for the rights to a fair trial and prohibits arbitrary interference with privacy, family, home and correspondence. The government authorities generally respect these prohibitions.

People

With over 82 million inhabitants, Germany is the most populous country in the European Union. However, its fertility rate is one of the lowest in the world and the Federal Statistics Office estimates the population will shrink to between 69 and 74 million by 2050. There are just over seven million foreign citizens registered in Germany. The largest group is from Turkey (around 1.7 million), while the rest are from European states such as Italy, Serbia, Greece, Poland, and Croatia.

Country ratings

IPRI Property Rights Rank (0-10): 8.1, ranked 3rd in the world (2007) [UK = 8.1, ranked 3rd]

Economist Intelligence Unit Quality of Life Index (1-10): 7.048, ranked 26th in the world (2005) [UK = 6.917, 29th]

Heritage Foundation Index of Economic Freedom: 71.2%, ranked 23rd in the world (2008) [UK = 79.5%, 10th]

Heritage Foundation Index of Property Rights Freedom: 70% (2008) [UK = 90%, Spain = 70%]

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