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Comparative and Absolute Advantage

Germany

Population: 81,197,537 (2015)

Population percentage of total EU: 16% (2015)

Political system: Democratic, federal parliamentary republic

Currency: Euro

Economy: Social market economy

Production: Automobiles, machinery, chemicals and

household equipment

Population: 81,197,537 (2015) and has the largest population of any EU country. Stretches from the North Sea and the Baltic to the Alps in the south and has a vast amount of major rivers such as the Rhine, Danube and Elbe (Eubusiness, 2018).

Population percentage of total EU: 16% (2015)

Political system: Democratic, federal parliamentary republic. The lawmakers are called the Bundestag and are elected every four years by popular vote (Eubusiness, 2018).

Currency: Euro

Economy: Social market economy, the fifth largest economy in the world in Purchasing Power Parity terms and is Europe’s largest economy.

Production: Automobiles, engineering products, iron, steel, coal, textiles, electronic and communications equipement, chemicals and pharmaceuticals. Second largest producer of hops worldwide and is well known for their beers and wine. (Eubusiness, 2018).

Top 3 trade partners (2016): China, United States, and France (Eubusiness, 2018).

Germany’s Real GDP

Real GDP first quarter 2018

739, 896.7 Millions of Chained 2010 Euros

First quarter 2009

615,666.8 Millions of Chained 2010 Euros

(Federal Reserve Bank of St. Louis, 2018)

Germany's Real GDP

First Quarter 2009

Category 1 615666.80000000005 First Quarter 2018

Category 1 739896.7

Chained 2010 Euros

Germany’s GDP Percentage Composition

Agriculture- milk, pork, beef, cereals, potatoes, wheat. Southern and western Germany are known for their wine. Bavaria produces much of the countries beer production.

Services- the construction industry, wholesale and retail, logistics, consulting industry, financial services, the hotel and catering industry, real estate, health servides, creative industry, education and public services.

Industry- machine tools, solar power and turbine wind power, electrical engineering, iron, steel, chemicals and optics.

Manufacturing- automotive, household products

(The World Bank Data, 2018)

Germany’s Consumer Price Index

Germany CPI

Annual 2009

98.90000 Index 2010=100

Annual 2017

109.27500 Index 2010=100

(FRED, 2018)

Germany's Annual CPI

2009

98.9 2017

109.27500000000001

INDEX 2010=100

Germany’s Real Exports

Germany Real Exports

1st Quarter 2018

136.92659 Index 2010=100 Seasonally Adjusted

1st Quarter 2009

85.38521 Index 2010=100 Seasonally Adjusted

(Federal Reserve Bank of St. Louis, 2018)

Top ten exports in 2017

Vehicles: US$257.2 billion (17.8% of total exports)

Machinery including computers: $245.4 billion (17%)

Electrical machinery, equipment: $148.8 billion (10.3%)

Pharmaceuticals: $84.1 billion (5.8%)

Optical, technical, medical apparatus: $72.8 billion (5%)

Plastics, plastic articles: $63.6 billion (4.4%)

Aircraft, spacecraft: $41.8 billion (2.9%)

Articles of iron or steel: $30.5 billion (2.1%)

Mineral fuels including oil: $26.8 billion (1.9%)

Iron, steel: $26.4 billion (1.8%)

(Eubusiness, 2018)

Germany's Real Exports

First Quarter 2009

85.385210000000001 First Quarter 2018

136.92659

Quarterly

Index 2010=100

Seasonally Adjusted

Germany’s Real Imports

Germany Real Imports of Goods and Services

1st Quarter 2018

133.67081 Index 2010=100 Seasonally Adjusted

1st Quarter 2009

90.34226 Index 2010=100 Seasonally Adjusted

(The World Bank Data, 2018)

Top 10 Imports of 2017

Machinery including computers: US$148.5 billion (12.7% of total imports)

Electrical machinery, equipment: $145.7 billion (12.5%)

Vehicles : $123.2 billion (10.5%)

Mineral fuels including oil: $96.2 billion (8.2%)

Pharmaceuticals: $53.6 billion (4.6%)

Plastics, plastic articles: $44.4 billion (3.8%)

Optical, technical, medical apparatus: $40.3 billion (3.4%)

Organic chemicals: $34.1 billion (2.9%)

Iron, steel: $29 billion (2.5%)

Articles of iron or steel: $23.3 billion (2%)

(Eubusiness, 2018)

Germany's Real Imports

First Quarter 2009

Quarterly 90.342259999999996 First Quarter 2018

Quarterly 133.67080999999999

Index 2010=100

Seasonally Adjusted

Germany’s Unemployment Rate

2018 Unemployment Rate

5.3%

2009 Unemployment Rate

8.1%

(Statista, 2018)

Germany's Unemployment Rate

2009 Year 8.1000000000000003E-2 2018 Year 5.2999999999999999E-2

Unemployment Percentages

Germany’s Industrial Production

Industrial Production

May 2018

3.14%

December 2009

-16.3%

(CEIC Data, 2018)

Germany's Industrial Production

2009

-0.16300000000000001 2018

3.1399999999999997E-2

Percentage of Production

References

CEIC Data. (2018). Germany Industrial Production. Retrieved from https://www.ceicdata.com/en/indicator/germany/industrial-production- index-growth

Eubusiness. (2018). Germany: country overview. Retrieved from https://www.eubusiness.com/europe/germany

Federal Reserve Bank of St. Louis. (2018). Real Gross Domestic Product for Germany. Retrieved from https://fred.stlouisfed.org/series/CLVMNACSCAB1GQDE

Federal Reserve Bank of St. Louis. (2018). Exports of Goods and Services for Germany. Retrieved from https://fred.stlouisfed.org/series/NAEXKP06DEQ661S

FRED. (2018). Consumer Price Index of All Items in Germany. Retrieved from https://fred.stlouisfed.org/series/DEUCPIALLMINMEI#0

Statista. (2018). Germany Unemployment Rate. Retrieved from https://www.statista.com/statistics/227005/unemployment-rate-in-germany/

The World Bank Data. (2018). Imports of Goods and Services Germany. Retrieved from https://data.worldbank.org/indicator/BM.GSR.TOTL.CD?locations=DE&view=chart

References Cont.

CEIC. (2018). United Kingdom Industrial Production Index Growth. Retrieved from: https://www.ceicdata.com/en.

Federal Reserve Bank of St. Louis. (2018). Economic Research, Consumer Price Index of all Items in the United Kingdom. Retrieved from: https:/fred/stlouisfed.org/series//GBRCPIALLMINMEI.

FocusEconomics. (2018). Gross Domestic Product in United Kingdom. Retrieved from:

McConnell, C.R., Brue, S.L., & Flynn, S.M. (2015) Economics: Principles, problems, and policies (20th ed). Boston, MA: McGraw- Hill/Irwin.

Organization for Economic Co-operation and Development, Production of Total Industry in France [FRAPROINDQISMEI], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/FRAPROINDQISMEI, September 9, 2018.

Organization for Economic Co-operation and Development, Unemployment Rate: Aged 15-74: All Persons for France [LRUN74TTFRQ156N], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/LRUN74TTFRQ156N, September 7, 2018.

Statista. (2018). United Kingdom: Real Gross Domestic Product (GDP) growth rate from 2012 to 2022 (compared to previous year). Retrieved from: https: statista.com/statistics/263613/gross-domestic-product-gdp-growth-rate-in-the-united- kingdom/.

Statist. (2018). United Kingdom: Unemployment Rate in the United Kingdom (UK) from 2000 to 2017. Retrieved from: https://www.statista.com/statistics/279898/unemployment-rate-in-the-united-kingdom-uk/.

The World Bank. (2018). Exports of Goods and Services United Kingdom.

The World Bank Data. (2018). Imports of Goods and Services United Kingdom. Retrieved from https://data.worldbank.org/indicator/BM.GSR.TOTL.CD?locations=DE&view=chart