Germany: economic success and a high standard of living

As a centre of industry, German has one of the most highly developed economies in the world. One result of this is a high standard of living, as you can see from its gross domestic product (GDP) for 2016 of 48,839 international dollars per capita, after adjustment for purchasing power. GDP measures a country's economic performance based on a national production of goods, products and services. To make comparisons between countries, GDP is adjusted for price and currency differences and stated as a per-capita value. Among the EU states, this puts Germany in seventh place after Luxembourg, Ireland, the Netherlands, Austria, Denmark and Sweden. Germany also performed well in a comparison with the other leading industrial nations. Although the immigration country USA ranked ahead of Germany, with 57,325, Canada and Australia was lagging significantly behind, with 47,025 and 47,770 international dollars. Germany is also characterised by a relatively even distribution of income. Native Germans and immigrants benefit from high GDP and the distribution of income. They are able to live in prosperity – and because of the democratic structures, in freedom and security.

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