Germany is still a leader in terms its economic indicators, despite growing competition from China and other countries. The country’s aerospace and automotive industries enjoy unprecedented success.
Over the past two decades, Germany’s manufacturing sector has been at the leading edge of the global industry.
According to research institute Prognos AG, Germany’s losses were less significant than those of US, France or Great Britain.
Michael Bemer, the chief economist at Prognos AG, said that the average share of the German industry on the world’s market makes up 10.6%, whereas in 1995 it was 13%.
Germany’s automobile industry is a leading one (20%), followed by the aviation and space sector (19.9%). The country’s share in the engineering industry showed a decline (11.5%) as well as the steel industry (8.4%) .
According to Bemer, a fall in Germany’s share in the engineering industry was primarily due to a decline in investments in emerging economies.
