A Powerful Location
A Dynamic Economy
The economy in Bavaria is very broad-based. Its industries, which are strong on innovation, and a wide-ranging service sector have made Bavaria one of the most dynamic economic regions of Europe. A healthy mixture of strong "global players" and many medium-sized companies have created a robust economic structure and ensure economic stability. Economic growth in Bavaria is both steady and sustained and is considerably above the average in Germany even when the economy is not flourishing. In none of the other states in the western half of Germany has the economic growth rate in the last ten years been as high as in Bavaria.
Bavarian products are in demand the world over. Bavarian firms are well able to respond to this and export goods with a total value of 125 billion Euros every year. With an export quota of 45% the Bavarian economy is a major factor on the world markets. As far as exports are concerned, Bavaria ranks ahead of such countries as Brazil, Sweden or Australia internationally.
Bavarian industries produce a wide and varied range of goods, covering the whole spectrum from classical industrial manufacturing through to high-tech. The sectors focusing on technology are strongly represented; the automobile industry, heavy engineering and electro-technology together account for approximately 40% of industrial production in Bavaria. In particular, it is one of the leading industrial locations internationally in the field of high-tech with important fields of competence such as information technology, communications technology, biotechnology, aeronautics and aerospace, mechatronics and medical technology.
The service sector is becoming increasingly important in Bavaria, too, and is developing into a special motor for growth. Services that are especially relevant for business are leading the field, for example data processing, project development, logistics, business consultancies, or advertising and marketing. More than 100 insurance companies, with premiums totalling 65 billion Euros, have made Bavaria one of the most important insurance locations in Europe. Other focal points in the service sector in Bavaria are media companies, credit companies, and the tourist industry.
The Social Market Economy as a Guiding Model
Bavarian economic policy is committed to the social market economy. Its aim is to harmonise fair competition and social balance, individual initiative and solidarity. The social market economy is a guarantee that economic success and social responsibility will continue to go hand in hand in the future.
Trade Fairs in Bavaria
Two of the most modern trade fair centres are located in Bavaria: the "Neue Messe München" (the New Trade Fair Centre, Munich) and the "NürnbergMesse" (Nuremberg Trade Fair). Major international trade fairs, such as the computer trade fair "Systems" in Munich or the Nuremberg toy fair attract millions of visitors and are attractive shop windows for trade and industry. By the way, the halls of the Munich trade fair centre are covered by the largest solar roof in the world.
Bavaria's economic structure in percent
|Services relevant to business||32.9%
|Industry and Manufacturing||24.7%|
|Public and Private Services||18.9%|
|Trade, Tourism and Transport||17.6%|
|Farming and Forestry||1.3%|
Economic Growth 1995 to 2005 real, in percent
Gross Domestic Product per inhabitant in 2005 in Euros