There is a social market economy in Germany with a good workforce, strong capital structure and low corruption. It has the largest and strongest economy in Europe. It is the world’s fourth largest economy after the US, China and Japan. The service sector accounts for % 71 of all GDP, % 28 of the industry and % 1 of agriculture. Unemployment rate is around % 5. It is one of the countries with the most efficient working force of the world. Monetary policy is managed by the European Central Bank, headquartered in Frankfurt. Leading industries include automotive, pharmaceutical, chemical, information technology and communications, steel, energy and construction.
Germany is one of the world’s leading suppliers, especially in the textile machinery. In the world textile machinery, Germany is among the top exporters. Germany ranks the first in the export of machinery for texturing weavable materials with a share of 331 million USD.
Germany ranks the first with a share of 840 million USD in the export of fibers and yarns, 409 million dollars in the export of felt and nonwoven fabric finishing machinery, 708 million USD in the export of textile machinery spare parts, and 1.045 billion USD in the export of dye finishing machinery. In the exports of sewing machines, Germany is second only to China and Vietnam with 484 million USD.
Germany is Among the Top Exporters to Turkey for Textile Machinery
Turkey as a country of textiles is one of the world’s leading importer of textile machinery. She improts in huge volumes both from the Western countries and from Asia and the Far East. Among the countries from where Turkey imports the largest textile machinery, Germany ranks the first. Turkey imports:
– Machines and devices for extrusion, drawing, texturing, etc. of synthetic or artificial materials from Germany and China,
– Machines for the preparation of textile fibers, spinning, folding, bending and preparation of yarns from Germany, Switzerland, Italy, Japan and China,
-Weaving machines (looms) from Belgium, Italy, Germany and Japan,
– Auxiliary machinery, apparatus and spare parts for jacquard machines (jacquard, shuttle, dredge, production nozzles, platinum, crochet etc.) from Germany, China and Italy,
– Machines and apparatus for the manufacture or finishing of felt or nonwovens, hat patterns from Germany and China,
– Machines for washing, cleaning, drying, ironing, wrapping, folding of yarns from Germany, Italy and China,
Sewing machines, furniture for sewing machines, tables and cases, needles sewing machines from China, Japan, Germany, Vietnam and Italy.
According to statistics published by Turkish Statistics Agency, Turkey has imported 1804 pieces of circular knitting machines with a total value of 86.7 million USD in 2018. 637 of these machines were imported from China, and 616 were imported from Germany.