Export Opportunities for U.S. Businesses
KEY TRADE INDICATORS
Market in EU
U.S. is Largest
ECONOMIC AND BUSINESS ENVIRONMENT
The German economy is the world's fourth largest and, after the enlargement of the EU, accounts for more than one-fifth of European Union GDP. Germany is the United States' largest European trading partner and the sixth largest market for U.S. exports. Germany’s "social market" economy largely follows free-market principles. Germany is the largest consumer market in the European Union with a population of 80.8 million. However, the significance of the German marketplace goes well beyond its borders. The volume of trade, number of consumers, and Germany’s geographic location at the center of a 28-member European Union make it a cornerstone around which many U.S. firms seek to build their European and worldwide expansion strategies.
TOP INDUSTRY EXPORT OPPORTUNITIES
Germany is Europe’s largest market for medical devices and the world’s third largest market. The market is in demand for high-quality advanced diagnostic and therapeutic equipment; innovative technologies and minimally invasive equipment, such as laser-optics in vascular surgery, urology, gastrology, dermatology, and neuro-surgery, new diagnostic and imaging devices, as well as specialized wound care and easy-to-use home care products. The trend is toward demand for miniaturized electro-medical equipment and nano-technology products.
Germany is Europe's largest sporting goods equipment market and a very sport-minded country. There are 25 million Germans participating in sports activities. In 2013, the German sporting goods market grew by 4%. Growth will continue for fitness equipment for physical exercise, gymnastics, or track and field; footwear (all sports); golf equipment; team sports equipment (for soccer, basketball, field hockey, golf, handball in particular, riding, running); winter sports equipment and apparel; in-line skates; roller blades; outdoor goods for hiking, climbing, trekking, and Nordic walking activities.
Germany imports various food related items from the U.S. In 2013 the U.S was the biggest supplier of tree nuts to Germany. Most tree nuts are used as ingredients by the food processing sector. Almonds are the most important commodity within this category. Further products with good sales potential include pistachios, pecans, and walnuts. In addition, Dried fruits and prepared nuts are also popular as a snack. Commodities with notable increasing sales are raisins, dried prunes, dried onions, and dried mushrooms & truffles.
TRADE REGULATIONS & CUSTOMS INFORMATION
Germany Import Turnover Tax - Goods imported from non-EU states are subject to an import turnover tax (Einfuhrumsatzsteuer). The import turnover tax rate equals the VAT (value-added tax) rates of 19 percent levied on domestic products (or 7 percent for some product categories) and has to be paid to the customs authority.
The Integrated Tariff of the Community, referred to as TARIC (Tarif Intégré de la Communauté), is designed to show the various rules which apply to specific products being imported into the customs territory of the EU. The online TARIC is updated daily.
The official model for written declarations to customs is the Single Administrative Document (SAD). Goods brought into the EU customs territory are, from the time of their entry, subject to customs supervision until customs formalities are completed. Also known as a Summary Declaration or declaration is made by whoever is clearing the goods, normally the importer of record or his/her agent.
Since 2009, all companies established outside of the EU are required to have an Economic Operator Registration and Identification (EORI) number if they wish to lodge a customs declaration or an Entry/Exit Summary declaration. All U.S. companies should use this number for their customs clearances.
Download Germany's Country Commercial Guide for more Customs and Trade Regulation Information
IMPORTANT COUNTRY GOVERNMENT ENTITIES
LOCAL U.S. SUPPORT CONTACT
Download the complete Country Commercial Guide
Source: U.S. Commercial Service