International organization participation:
AfDB, AsDB, Australia Group, BIS, BSEC (observer), CBSS, CDB, CE,
CERN, EAPC, EBRD, EIB, EMU, ESA, EU, FAO, G- 5, G- 7, G- 8, G-10,
IADB, IAEA, IBRD, ICAO, ICC, ICCt, ICFTU, ICRM, IDA, IEA, IFAD, IFC,
IFRCS, IHO, ILO, IMF, IMO, Interpol, IOC, IOM, ISO, ITU, MIGA, NAM
(guest), NATO, NEA, NSG, OAS (observer), OECD, OPCW, OSCE, Paris
Club, PCA, UN, UNAMSIL, UNCTAD, UNESCO, UNHCR, UNIDO, UNMEE, UNMIK,
UNMOVIC, UNOMIG, UPU, WADB (nonregional), WCO, WEU, WHO, WIPO, WMO,
WToO, WTO, ZC
Diplomatic representation in the US: chief of mission: Ambassador Wolfgang Friedrich ISCHINGER consulate(s) general: Atlanta, Boston, Chicago, Detroit, Houston, Los Angeles, Miami, New York, San Francisco FAX: [1] (202) 298-4249 telephone: [1] (202) 298-8140 chancery: 4645 Reservoir Road NW, Washington, DC 20007
Diplomatic representation from the US: chief of mission: Ambassador Daniel R. COATS embassy: Neustaedtische Kirchstrasse 4-5, 10117 Berlin; note - a new embassy will be built near the Brandenburg Gate in Berlin; ground was broken in October 2004 and completion is scheduled for 2008 mailing address: PSC 120, Box 1000, APO AE 09265 telephone: [49] (030) 8305-0 FAX: [49] (030) 8305-1215 consulate(s) general: Duesseldorf, Frankfurt am Main, Hamburg, Leipzig, Munich
Flag description: three equal horizontal bands of black (top), red, and gold
Economy Germany
Economy - overview:
Germany's affluent and technologically powerful economy- the fifth
largest national economy in the world - has become one of the
slowest growing economies in the entire euro zone, and a quick
turnaround is not in the offing in the foreseeable future. Growth in
2001-03 fell short of 1%. The modernization and integration of the
eastern German economy continues to be a costly long-term process,
with annual transfers from west to east amounting to roughly $70
billion. Germany's ageing population, combined with high
unemployment, has pushed social security outlays to a level
exceeding contributions from workers. Structural rigidities in the
labor market - including strict regulations on laying off workers
and the setting of wages on a national basis - have made
unemployment a chronic problem. Corporate restructuring and growing
capital markets are setting the foundations that could allow Germany
to meet the long-term challenges of European economic integration
and globalization, particularly if labor market rigidities are
further addressed. The government is also starting long-needed
structural reforms designed to revitalize the country's economy. In
the short run, however, the fall in government revenues and the rise
in expenditures have raised the deficit above the EU's 3% debt limit.
GDP:
purchasing power parity - $2.271 trillion (2003 est.)
GDP - real growth rate:
-0.1% (2003 est.)
GDP - per capita:
purchasing power parity - $27,600 (2003 est.)
GDP - composition by sector: agriculture: 1% industry: 31% services: 68% (2002 est.)