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Germany: Imports, Exports, Currency

Imports: In 2003 Germany imported US$601.4 billion of merchandise, while imports of goods and services totaled US$773.4 billion. Principal merchandise imports were motor vehicles (US$64.4 billion), chemical products (US$63.2 billion), machinery (US$41.8 billion), oil and gas (US$39.9 billion), and computers (US$30.5 billion). Germany's main import partners were France (9.0 percent), the Netherlands (7.8 percent), the United States (7.3 percent), Italy (6.1 percent), the United Kingdom (6.1 percent), Belgium (4.9 percent), China (3.8 percent), and Austria (3.8 percent).

Exports: In 2003 Germany exported US$748.4 billion of merchandise, while exports of goods and services totaled US$873.3 billion. Principal merchandise exports were motor vehicles (US$145.5 billion), machinery (US$103.0 billion), chemical products (US$92.9 billion), electrical devices (US$36.2 billion), and telecommunications technology (US$35.1 billion). Germany's main export partners were France (10.6 percent), the United States (9.3 percent), the United Kingdom (8.4 percent), Italy (7.4 percent), the Netherlands (6.2 percent), Austria (5.3 percent), Belgium (5.0 percent), and Spain (4.9 percent).

Trade Balance: In 2003 Germany posted a merchandise trade surplus of US$147 billion.

Balance of Payments: In 2003 the current account balance was a positive US$54.9 billion, or 2.2 percent of gross domestic product.

External Debt: In 2002 total public debt was about US$1.5 trillion, or 60.8 percent of gross domestic product.

Foreign Investment: In 2003 net foreign direct investment was inbound US$11 billion.

Foreign Aid: In 2004 Germany provided US$7.5 billion of foreign aid, corresponding to about 0.3 percent of gross domestic product. Germany provides foreign aid to roughly 70 nations. The majority of the aid is bilateral, as opposed to multilateral.

Currency and Exchange Rate: Germany's currency is the euro. As of December 20, 2005, one US dollar was equivalent to 0.8406 euros. Because Germany has adopted the euro, the Bundesbank, which had been responsible for conducting monetary policy and maintaining a stable German mark, has ceded much of its previous influence to the European Central Bank.

Fiscal Year: Calendar year.

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