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The Wirtschaftswunder (German: [ˈvɪʁt.ʃaftsˌvʊndɐ] ⓘ, "economic miracle"), also known as the Miracle on the Rhine, was the rapid reconstruction and development of the economies of West Germany and Austria after World War II. The expression referring to this phenomenon was first used by The Times in 1950. [2]
The year 1989 was the last year of the West German economy as a separate and separable institution. From 1990 the positive and negative distortions generated by German reunification set in, and the West German economy began to reorient itself toward economic and political union with what had been East Germany. The economy turned gradually and ...
As of 2013, Germany is the third-largest exporter and third-largest importer in the world, producing the largest trade surplus as a national economy. The German economy practically stagnated in the beginning of the 2000s. The worst growth figures were achieved in 2002 (+1.4%), in 2003 (+1.0%), and in 2005 (+1.4%). [76]
The transition of West Germany from a debtor to a creditor by the middle of the 1950s had an impact on Germany's economic growth as well. [11] The agreement's outcome can be described as a German economic miracle. Germany achieved all of the above, despite being obligated to pay the total amount of war reparations (with interest) prior to the ...
Reparations payments continued more or less in full from 1924 to 1931 without a return of hyperinflation and, after 1930, Germany protested that reparations payments were deflationary. [5]: 239 Inflation also enabled the German government to pay off its substantial domestic debts, particularly war debts, in devalued marks. [5]: 245
Germany's government said Wednesday that its economy, Europe's biggest, is on track to shrink for a second consecutive year — underlining the unpopular administration's troubles as it heads into ...
China was Germany’s second-biggest export market as recently as in 2021. The shift is also the result of more fundamental changes in China’s economy, Brzeski said.
“A lot has been left behind here over the past decades,” Alfred Kammer, IMF's Europe head, said on Germany's lagging economy. IMF sounds the alarm: ‘There can be no productive economy’ in ...