security
outlays to a level exceeding contributions, but higher government
revenues from the cyclical upturn in 2006-07 and a 3% rise in the
value-added tax pushed Germany's budget deficit well below the EU's
3% debt limit. Corporate restructuring and growing capital markets
are setting the foundations that could help Germany meet the
long-term challenges of European economic integration and
globalization, although some economists continue to argue the need
for change in inflexible labor and services markets. Growth may fall
below 2% in 2008 as the strong euro, high oil prices, tighter credit
markets, and slowing growth abroad take their toll.

GDP (purchasing power parity):

$2.807 trillion (2007 est.)

GDP (official exchange rate):

$3.322 trillion (2007 est.)

GDP - real growth rate:

2.5% (2007 est.)

GDP - per capita (PPP):

$34,100 (2007 est.)

GDP - composition by sector:

agriculture: 0.9%
industry: 30.1%
services: 69% (2007 est.)

Labor force:

43.54 million (2007 est.)

Labor force - by occupation:

agriculture: 2.8%
industry: 33.4%
services: 63.8% (1999)

Unemployment rate:

9%
note: this is the International Labor Organization's estimated rate
for international comparisons; Germany's Federal Employment Office
estimated a seasonally adjusted rate of 10.8% (2007 est.)

Population below poverty line:

11% (2001 est.)

Household income or consumption by percentage share:

lowest 10%: 3.2%
highest 10%: 22.1% (2000)

Distribution of family income - Gini index:

28 (2005)

Investment (gross fixed):

18.5% of GDP (2007 est.)

Budget:

revenues: $1.454 trillion
expenditures: $1.453 trillion (2007 est.)

Fiscal year:

calendar year

Public debt:

64.9% of GDP (2007 est.)

Inflation rate (consumer prices):

2.3% (2007 est.)

Central bank discount rate:

NA

Commercial bank prime lending rate:

5.96% (31 December 2007)

Stock of money:

NA
note: see entry for the European Union for money supply in the Euro
Area; the European Central Bank (ECB) controls monetary policy for
the 15 members of the Economic and Monetary Union (EMU); individual
members of the EMU do not control the quantity of money and quasi
money circulating within their own borders

Stock of quasi money:

NA

Stock of domestic credit:

$5.081 trillion (31 December 2007)

Agriculture - products:

potatoes, wheat, barley, sugar beets, fruit,