Importing from Germany

Germany Import Guide | Trade Finance Global

Importing from Germany

Directly bordering nine European nations and housing the port of Hamburg, the world’s third largest seaport, Germany is strategically positioned for strong international activities. With a population of 83.2 million and a GDP per capita of $48,200, Germany has the fourth largest economy in the world. 

Germany is also the third-largest exporter in the world, with international trade accounting for nearly 45% of the country’s GDP. In 2019 Germany had over $1.5 trillion of exports, primarily to the USA, France, China, the Netherlands, and the UK. Germany’s strong export profile and stable economy has led to their sustained geopolitical and economic importance in the EU.

germany exports by country

German governmental policy has promoted the shift to renewable energy, which now accounts for 25% of domestic consumption, with an expected increase in the coming years. This policy shift has led to Germany becoming the leading producers of wind turbines worldwide.

 

Germany Country Profile

Official Name (Local Language) Bundesrepublik Deutschland (German)
Capital Berlin
Population 80,722,792
Currency Euro
GDP $3,495 billion
Languages German
Telephone Dial In 49

Germany Exports Profile

Exports ($m USD)

1,450,215

Number of Export Products

4,408

Number of Export Partners

231

Top 5 export partners

Country

Trade

% Partner Share

United States

126,360

8.71%

France

118,773

8.19%

China

97,774

6.74%

United Kingdom

94,819

6.54%

Netherlands

91,278

6.29%

Top 5 Export Products at HS 6 digit level

Export Product

Number

Motor Vehicles

10.9%

Parts and accessories for tractors, motor vehicles...

4.3%

Medicaments consisting of mixed or unmixed...

3.6%

Powered aircraft e.g. helicopters and aeroplanes;...

2.1%

Human blood; animal blood prepared for therapeutic

1.7%

Chart Showing GDP Growth Compared to rest of world

GDP Composition for Germany

Agriculture

%

Product List

0.6%

potatoes, wheat, barley, sugar beets, fruit, cabbages; milk products, cattle, pigs, poultry

Industry

%

Product List

30.3%

iron, steel, coal, cement, chemicals, machinery, vehicles, machine tools, electronics, automobiles, food and beverages, shipbuilding, textiles

Services

%

Service List

69.1%

Importing from Germany: what is trade finance?

Trade finance is a revolving facility in which lenders offer financing options – it enables businesses to purchase products and can help ease the pressure from working capital issues.

Generally, an export finance bank will fund up to 100% of the cost of the products, including charges (e.g. insurance costs).

Trade finance offers upsides over more traditional bank financing, for example bridging mortgages or loans. Trade finance provides quick funding without affecting existing bank relationships.

How does it work?

If you’re a business importing or exporting goods around the world, then a trade finance facility would assist your company through offering a letter of credit (LC) or some form of cash advance.

I’m looking to import from Germany, how can Trade Finance Global help, and how does it work?

If you’re looking to import inventory from other countries, you may require import finance, which is an agreement between yourself (the importer) and the foreign exporter. A non-bank lender will act as the intermediary, paying the foreign exporter on your behalf until you get the products and have then sold them to your buyer. Repaying the financier then occurs over an agreed period of time.

Information

Importing from Germany? Contact our local experts

Germany Economic Statistics

Government Website

https://www.bundesregierung.de/

Sovereign Ratings

https://countryeconomy.com/ratings/germany

Central Bank

Deutsche Bundesbank

Currency USD Exchange Rate

0.9214

Unemployment Rate

4.3%

Population below poverty line

16.7%

Inflation Rate

1%

Prime Lending Rate

0.25%

GDP

$3,495 billion

GDP Pro Capita (PPP)

$48,200

Currency Name

EURO

Currency Code

EUR

World Bank Classification

High Income

Competitive Industrial Performance

5/138

Corruption Perceptions Index

12/180

Ease of Doing Business

24/190

Enabling Trade Index

9/136

Currency in Germany

About the Author

Brian Canup is the Business Development Executive at Trade Finance Global (TFG).

Brian holds a BA in Political Science from the University of Wisconsin-Madison and an MA in International Political Economy from King’s College London.

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