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Economy and Banking Sector of Germany

Central Europe
EU Status
member since 1952

Germany is a prosperous, democratic country with a highly skilled labour force, a large capital stock, a low level of corruption, and a high level of innovation.


EUR (Euro)
Population  (2019)
83,019,213  (0.00%)
Nominal GDP (2019)
3,435.2 bln EUR  (+0.01%)
Credit Ratings (as of Nov 2020)

Being an innovation-driven economy, Germany is among the world's largest and technologically advanced producers of chemicals, machinery, vehicles, machine tools, electronics, automobiles, food and beverages, textiles.


Withholding tax rates in Germany are 0.0-26.0 %. Germany signed 96 double taxation agreements.
Germany signed the automatic information exchange agreement on 29 October 2014 and committed to start the automatic information exchange in September 2017.
Germany has FATCA agreement with the U.S. in effect since 31 May 2013 (Intergovernmental Agreement Model 1).

Banking Sector

Number of Banks
Consolidated Banking Assets (2019)
6,938.07 bln EUR  (-2.33%)
Deposit Guarantee
100,000 EUR

The history of banking in Germany dates back to the 15th century. The oldest bank still operating in Germany, is Berenberg Bank, founded in 1590. Nowadays Germany has "three-pillar banking system" consisting of private banks, cooperative banks and public savings banks.

Major Banks

See Also

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