Social security in Germany in the context of "Economy of Germany"

Germany has a highly developed social market economy. It is the largest national economy in Europe, the third-largest by nominal GDP in the world, and the sixth-largest by PPP-adjusted GDP. Due to a volatile currency exchange rate, Germany's GDP as measured in dollars fluctuates sharply, but it is among the world's top 4 since 1960. In 2025, the country accounted for 23.7% of the Euro area economy according to the International Monetary Fund (IMF). Germany is a founding member of the European Union and the eurozone.

Germany is the third-largest exporter globally with $1.66 trillion worth of goods and services exported in 2024. In 2024, Germany recorded a trade surplus worth $255 billion, ranking 2nd worldwide. The service sector contributes around 70% of the total GDP, industry 29.1%, and agriculture 0.9%. Exports accounted for 50.3% of national output. The top 10 exports of Germany are vehicles, machinery, chemical goods, electronic products, electrical equipment, pharmaceuticals, transport equipment, basic metals, food products, and rubber and plastics. Germany is the largest manufacturing economy in Europe, contributing around one third of all manufacturing in Europe, which makes it more resilient to global economic crises. Germany conducts applied research with practical industrial value and sees itself as a bridge between the latest university insights and industry-specific product and process improvements. It generates a great deal of knowledge in its own laboratories. Among OECD members, Germany has a highly efficient and strong social security system, which comprises roughly 25% of GDP.