Germany GDP Analysis 2014-2024 vs. Uzbekistan GDP Analysis 2014-2024

Attribute	Germany GDP Analysis 2014-2024	Uzbekistan GDP Analysis 2014-2024
GDP Growth Rate	2.2%	5.1%
GDP per Capita	$47,603	$1,720
Population	83 million	33 million
Major Industries	Automobiles, machinery, chemicals	Cotton, textiles, food processing

Introduction

Germany and Uzbekistan are two countries with vastly different economies, yet both have experienced growth in their GDP over the past decade. In this article, we will compare the attributes of Germany's GDP analysis from 2014 to 2024 with that of Uzbekistan during the same period.

GDP Growth Rate

Germany, as one of the largest economies in Europe, has seen a steady increase in its GDP growth rate over the past decade. From 2014 to 2024, Germany's GDP growth rate averaged around 1.5% per year. On the other hand, Uzbekistan, a developing country in Central Asia, has experienced a higher GDP growth rate during the same period, averaging around 5% per year. This indicates that Uzbekistan's economy has been growing at a faster pace compared to Germany.

Per Capita GDP

When looking at per capita GDP, Germany has a much higher figure compared to Uzbekistan. In 2014, Germany's per capita GDP was around $46,000, while Uzbekistan's was only about $2,000. By 2024, Germany's per capita GDP had increased to approximately $60,000, whereas Uzbekistan's had also grown but was still significantly lower at around $4,000. This shows that the average income of individuals in Germany is much higher than that of Uzbekistan.

Industry Composition

Germany is known for its strong industrial base, with sectors such as automotive, machinery, and chemicals playing a significant role in its economy. In contrast, Uzbekistan's economy is more reliant on sectors like agriculture, mining, and textiles. While Germany's industrial sector contributes a larger share to its GDP, Uzbekistan's economy is more diversified across different industries.

Trade Balance

Germany is a major exporter of goods, with a trade surplus that has been consistently positive over the years. In 2014, Germany's trade surplus was around $250 billion, and by 2024, it had increased to approximately $300 billion. On the other hand, Uzbekistan has a trade deficit, meaning it imports more goods than it exports. In 2014, Uzbekistan's trade deficit was around $5 billion, and by 2024, it had grown to about $8 billion. This indicates that Germany's economy is more export-oriented, while Uzbekistan relies more on imports.

Foreign Direct Investment

Germany attracts a significant amount of foreign direct investment (FDI) due to its stable economy and skilled workforce. In 2014, Germany received around $50 billion in FDI, and by 2024, this figure had increased to approximately $70 billion. Uzbekistan, on the other hand, has been working to attract more FDI to boost its economy. In 2014, Uzbekistan received only about $1 billion in FDI, but by 2024, this had grown to around $5 billion. While Germany still attracts more FDI compared to Uzbekistan, the latter has shown improvement in this area over the years.

Government Spending

Both Germany and Uzbekistan allocate a significant portion of their GDP to government spending. In 2014, Germany's government spending accounted for around 45% of its GDP, while Uzbekistan's was slightly higher at about 50%. By 2024, Germany's government spending had decreased to around 40% of GDP, whereas Uzbekistan's had also decreased but remained higher at around 45%. This indicates that both countries prioritize government spending, with Uzbekistan allocating a larger share of its GDP to this area compared to Germany.

Conclusion

In conclusion, Germany and Uzbekistan have different economic profiles, with Germany being a developed economy and Uzbekistan a developing one. While Germany has a higher per capita GDP and a more diversified industrial base, Uzbekistan has shown faster GDP growth and improvement in attracting foreign direct investment. Both countries have their strengths and challenges, and understanding their GDP analysis from 2014 to 2024 provides valuable insights into their economic performance over the past decade.