Germany’s market size and purchasing power: international comparison
One of the ways to understand something is to compare it. I will use the data for GDP and GDP per capita in 2019 to compare the country markets.
Let us start with the heavy weights champions in the world in terms of the market size. China is 20 % bigger in GDP than European Union, and European Union is 6% bigger than the US.
Germany is the biggest economy in Europe based on GDP and is almost 5 times smaller than the USA.
If we take the UK or France, then Germany’s GDP is 42% or 45% bigger respectively.
If we combine the GDP of the UK and Ireland then it is still 25% smaller than Germany’s economy.
If we take Nordic countries (Denmark, Finland, Iceland, Norway, and Sweden), then their joint GDP is still twice smaller than the UK’s GDP.
If we combine the UK, Ireland, and Nordic countries on one side, and the German-speaking countries (Austria, Germany, and Switzerland) on the other side, then the latter is still 7% bigger in GDP.
The so called Benelux region (Belgium, the Netherlands, and Luxembourg) is 4% bigger than Nordic countries.
GDP per capita
Germany’s purchasing power (approximated by GDP per capita PPP) is 22% smaller than in the USA, and is 15% higher than in the UK.
Denmark, Sweden, Netherlands, and Austria has a similar purchasing power to Germany.
Switzerland, Norway, and Ireland have bigger purchasing power than in Germany for 22%, 44%, and 57% respectively.
France , Spain, and Italy have smaller purchasing power than in Germany for 14%, 29%, and 33% respectively.
Please keep in mind that market size and purchasing power are only some of the factors to evaluate the markets. Moreover, the mentioned metrics are dynamic in time.
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