Bavaria is one of Europe’s locomotives in terms of economic power. From aerospace to interactive media, over automotive and green techs: SMEs are Bavaria’s backbone.
While Bavaria is a popular place to invest and in demand as a trading partner and provider of products and services on an EU level, the same holds true on a global scale as well. Every second euro in the state’s economy is generated from export. The most important trade partners are the USA, China and Austria. The most popular Bavarian exports are automobiles, chemical products, electronics and machines.
With a gross national product of 610 billion euros (2020), Bavaria’s economy ranks number eight within the EU. It’s no wonder that Bavaria, at 3.6% (2020), has the lowest unemployment rate in Germany. Germany’s national unemployment averaged 5.9% in 2020, which is outstanding in a European comparison: in the same year, the average unemployment rate in the EU was 7.1%.
You can find further economic data at https://www.invest-in-bavaria.com/en/advantage-bavaria/about-bavaria.html
Bavaria’s SMEs, a.k.a. the “Mittelstand“
SMEs are the backbone of the Bavarian economy and represent a guarantee for prosperity, future-oriented jobs and training opportunities. With 600,000 companies which provide 3.6 million jobs falling under social security coverage, SMEs are dynamic and highly productive all over Bavaria. With 190,000 vocational training positions, the dual training system is a success story among SMEs as well: it not only is the basis for Germany’s success as an export nation, it is developing into an export hit itself.
Small and medium-sized companies are just as successful in rural areas as they are in urban settings, covering the widest variety of sectors from industry, commerce, crafts and trades, tourism, the services industry and freelance professions. This means that every investor has access to a broad spectrum of innovative suppliers, buyers and cooperation partners.
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