Germany and the global economy
Germany is tightly integrated into the world economy and dependent on its growth. The export of goods and services is one of the main engines of the country's economy and, consequently, more than one in five jobs depends on foreign trade. Germany's competitiveness on the global market is also of increasing importance. It must remain attractive for foreign investors, as their crucial investments create or preserve jobs and help further develop technology. The further globalization of the economy in turn has increased Germany's dependence on the world market.
Globalization also means that people's lives all over the world are ever more closely interconnected. The common responsibility of all states for stable economic development for the benefit of everyone is becoming increasingly apparent. In view of the many political conflicts in the world today, it is clear that trade and a dense network of economic links offer the means to create trust and stabilize international relations.
Germany's foreign policy therefore strives to both promote and protect German economic interests in the world and help foster the further development of just and sustainable global economic cooperation.
Germany is a reliable and strong partner of many African countries through its development cooperation. In consultation with its African partners Germany is increasingly focussing on certain priority areas in its development cooperation.
Development Cooperation in Africa
Africa may be a small market that accounts for only 1% of our foreign trade, but nevertheless the volume of our foreign trade with African countries is roughly 15 times the volume of our bilateral development aid for the same region. Thousands of jobs in Germany depend on trade with Africa. German business is thus an important partner of the German Africa policy. Cooperation between the German Foreign Office and the Afrika-Verein der Deutschen Wirtschaft (German-African Business Association) run by German businesses is close and fruitful for both sides.
Economic ties
All signs are go for another year of dynamic economic expansion in Germany. After posting an unusually strong performance in 2010 - when gross domestic product increased at a real rate of 3.6% - the German economy is expected to sustain its upswing in 2011, although at a somewhat less powerful pace. Particularly satisfying is the fact that the domestic economy is increasingly the driving force behind economic growth, together with the ongoing stimuli from foreign trade and investment. The upturn now stands on two solid footholds.
German economy 2011
