Germany, located at the heart of Europe, is one of the largest markets in the world. As an export nation, Germany is economically integrated not only continentally but also globally. "Made in Germany" – an internationally recognized seal of quality – implies Germany's competitive strength and sets a high standard for both domestic and international producers. The innovative character of the German economy makes a significant contribution to the country’s economic stability.
Nationally, Germany faces challenges regarding its innovative strength due to demographic changes. The education system does not yet seem to be adapted to this aspect. Apart from the transfer between science and business and an efficient innovation system, one of Germany's strength is its excellent economic structure according to the study "Innovation Indicator – A Comparison of the Innovation Capability of the Most Important Industrial Nations". Compared with the 27 major industrial nations, Germany was ranked 6th.
However, despite changes in the economic growth rate over the past years, Germany remains the economic powerhouse of Europe. The country is not only known for its innovative approach to manufacturing, but also for its impact and development in the technology industry. Germany is most famously known for its car industry. From quality to innovation, Germany leads the world in the automotive sector with its manufacturing excellence and famous car brands like Mercedes and BMW.
It’s no secret that the German Automotive Industry is one of the strongest in the world. So far in 2017, production is up by 7% and export is up by 9% compared to 2016, with no indication this will have a negative change in the near future.
As the backbone of the German economy this sector provides one of the most diverse industry opportunities. With one in ten mechanical engineering products worldwide being produced in Germany, it’s no wonder this sector is able to sustain such strong and continuous growth.
In the past decade Germany has remained steady in the chemical industry. The country leads in the European Union with a 28% market share. Making Germany the 3rd largest player in this industry overall and the 2nd largest in terms of exports globally.
In Germany, foreign investors profit particularly from outstanding business conditions as well as high productivity. As the founder of Industrie 4.0, the country is leading in the current trend of the automation and data exchange in manufacturing. Industrie 4.0 is the future of productivity and growth in the manufacturing industry. The latest trend is also considered to be a new revolution, with Industrie 4.0 aiming to transform the design, manufacture, operation, and service of products and production systems.
Additionally, Germany is a beneficiary of globalization. According to the Germany 2020 project, 60% of the country’s export growth comes from European integration and from Eastern Europe. The economy in Germany will profit more than any other industrialized country from the growth of BRIC economies (Brazil, Russia, India, and China). In the future, manufacturing will continue to be the foundation of Germany’s economic strength. If this growth continues, Germany will make 25% of the world’s GDP- a larger share than any other major industrialized country.
R&D Cooperation and Investment opportunities: Representing various industries, the senior executives of some of Germany and Turkey’s top innovative and international firms joined us in Frankfurt.
Industrie 4.0- Digitalization in Manufacturing: GSC invited senior executives from Turkish and German manufacturing companies to join our exclusive two-day summit sponsored by the German Federal Ministry of Education and Research.