Economies of Spain and Germany Essay

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Economies of Spain and Germany Economy of Germany

Germany’s Economic System the Federal Republic of Germany’s economy has now flourished despite its harsh times that have been faced throughout the decades. Most people know about Germany from its historic involvement in World War II; its successful campaign to unite East and West with the successful collapse of the Berlin Wall; and its world class development and production of automobiles. Unfortunately, what most people don’t know is that Germany continues to fight an uphill battle in keeping its established ranking among the world’s most important economic powers. A historic look back at Germany shows that after its fall in World War II, it needed a massive rebuilding
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The Western states recouped with a 2.3% increase that year, recovering from their 1.9% decline the previous year. So combined, this gives the Republic a valued GDP, in 1994, of nearly $1.34 trillion. To note another significant difference – the $5,950 national product per capita for workers in the East severely undercuts the $19, 660 for Western workers. One of the largest contributors to the GDP is manufacturing and the goods that it produces – claiming nearly 40% of the total GDP every year since 1992. This shows that the industry has steadily improved after its immediate 40% tumble it took back in 1989. It has not yet been figured if the GDP dropped because of the lack if manufacturing output, or the fact that both East and West Germany were now being figured into the equation as one instead of a split.

Germany’s main industrial area is the Ruhr Valley, in which a various amount of products are produced. The principle production item is the refinement of petroleum. This ranks first among other items such as steel castings; iron; cement; chemicals, resins and plastics; automotive vehicles, railroad rolling stock, aircraft; and cotton and other woolen fibers. Agriculture accounts for 2% of the GDP. Its chief vegetable crops include cabbage, carrots and cauliflower; while

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