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Economy and Banking Sector of Germany

Germany
Location
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.

Currency
EUR (Euro)
Population  (2017)
82 521 653  (0.00%)
Nominal GDP (2017)
3 263.4 bln EUR  (+0.04%)
Credit Ratings (as of May 2018)
AAA/Aaa

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).

Number of Banks
1597
Consolidated Banking Assets (2017)
6 864.07 bln EUR  (-3.10%)
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.

See Also