The German model of success
In recent years, the German industry has experienced steady growth in sales, despite significant economic fluctuations. Export-oriented sectors have played a crucial role in this momentum. A prominent example is the automotive industry, which continues to lead with a sales volume of 506 billion euros in 2022. This sector not only leads in innovation but also plays a key role in economic growth, as vehicle production creates a positive impact on other industrial sectors due to its strong connections with industries such as chemicals, electrical engineering, metallurgy, steel, and textiles.
However, there are companies in other sectors that also generate significant sales, such as the healthcare industry (392 billion euros in 2021) or the electrical engineering and electrical industry sectors (182 billion euros in 2020). With a wide range of services, these sectors offer numerous employment opportunities.
Industrial goods represent the majority of German exports. In many areas and across numerous markets, German companies are global leaders in exports. This is the case, for example, with so-called green technologies, meaning products related to environmental and climate protection. In a promising sector such as renewable energy, including photovoltaic and wind energy, as well as more efficient techniques for power plants, Germany holds a high global share.
Germany is considered a country of great innovations, not only in the field of environmental technologies but also for revolutionary inventions such as the motorcycle, the tram, and the automobile. In today’s increasingly globalized world, a country’s innovation potential plays a crucial role in its survival as a global actor. In 2022, Germany ranked first in Europe with 57,214 patent registrations. To maintain this innovative capacity, German researchers and engineers must develop creative ideas and implement them boldly. However, the shortage of qualified young people presents a challenge, which is why Germany relies on immigration of highly skilled specialists to strengthen its innovation potential. In short, it all depends on brilliant minds, now and in the future, whether they are German or from abroad.
Europe’s largest economy strengthens its position mainly thanks to its strong infrastructure, the high level of development in businesses and the services sector, higher education, excellent vocational training—such as in the trades—and, of course, its innovations.
