Germany: Country and Foreign Investment
Germany is the fourth largest economy in the world and accounts for 20% of GDP in the EU. In 2009 Germany was the world's third largest exporter with exports totalling EUR803bn.
Germany has attracted EUR460bn in foreign investment and 45,000 foreign companies have made Germany their base. This includes 39 of the Fortune Global 500. US investment in Germany was EUR45bn in 2006. Almost 70% of the workforce is employed by small to medium sized companies specialising in engineering, biotechnologies and renewable energy.
Germany hosts two thirds – just under 160 - of the world’s industry trade fairs which attract around 10m visitors annually.
Corporate income tax is 15% plus an additional 5.5% solidarity surcharge. This surcharge was introduced to support and develop growth and living standards in the former East Germany. There is also a local corporate income tax known as the trade tax. The highest personal income tax rate is 45%.
Germany is a social welfare state and over 27% of GDP is spent on health and social care.