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→Economy
Despite persistence of some structural rigidities in the labor market and extensive government regulation, the economy remains strong and internationally competitive. Although production costs are very high, Germany is still an export powerhouse, and unit labor costs have decreased in the last 10 years. Additionally, Germany is strategically placed to take advantage of the rapidly growing central European countries. The current government has addressed some of the country's structural problems, with important tax, social security, and financial sector reforms.
Despite persistence of some structural rigidities in the labor market and extensive government regulation, the economy remains strong and internationally competitive. Although production costs are very high, Germany is still an export powerhouse, and unit labor costs have decreased in the last 10 years. Additionally, Germany is strategically placed to take advantage of the rapidly growing central European countries. The current government has addressed some of the country's structural problems, with important tax, social security, and financial sector reforms.
On May 26, 2023 ''[[Politico]]'' reported:
{{quotebox-float|Not so long ago, Germany was Europe's powerhouse: wealthy, booming, politically strong…But the mighty have fallen...And it's not hard to see why this is giving the rest of the eurozone a bad case of the jitters…After all, if its largest member is struggling, it risks dragging the whole lot of them down with it...Germany is by far the eurozone's biggest economy, accounting for almost 30 percent of the bloc's economic output…It is the largest trading partner of more than half of the EU's 27 countries”.<ref>[Germany’s slipped into recession and everyone should be worried], BY JOHANNA TREECK, MAY 26, 2023. ''Politico''.</ref>}}
[[Image:The_castle3.jpg|right|thumb|270px|Neuschwanstein Castle, a popular tourist destination.]]
[[Image:The_castle3.jpg|right|thumb|270px|Neuschwanstein Castle, a popular tourist destination.]]
*GDP (2007 est.): $3.1 trillion.
*GDP (2007 est.): $3.1 trillion.