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Germany Letter of Credit Transactions - Knowledge Bank 
 






















Germany’s Economy and International Trade at a Glance : 
    
  1. Gross domestic product of Germany is $3,19 trillion US dollars in year 2012. This makes German economy 4th largest economy in the world after USA, China and Japan.  
  2. Germany is the world's 3rd biggest importer with 1,339 billion US dollars import volume in year 2012 and 3rd biggest exporter with 1,492 billion US dollars export volume in year 2012 
  3. International trade has been playing a key role on German economy for centuries. Germans are famous for their quality products. "Made in Germany" is a reliable quality mark and is a strong reason of choice to buy a product all around the world.  
  4. German economy experiencing trade surpluses for decades. In binary trade relations Germans export more than what they imports from majority of countries all around the world with limited exceptions such as China, Saudi Arabia etc...
  5. German economy is the driving force of the European Union economy. Other European countries have to rely on German economy and finance to keep thier economy floating especially on these financial crisis times.
  6. Main export products of Germany : Motor vehicles, machinery, chemicals, computer and electronic products, electrical equipment, pharmaceuticals, metals, transport equipment, foodstuffs, textiles, rubber and plastic products.   
  7. Main import products of Germany :  Machinery, data processing equipment, vehicles, chemicals, oil and gas, metals, electric equipment, pharmaceuticals, foodstuffs, agricultural products.
  8. Biggest Export Partners of Japan : European Union (%58.2), US (%7.0), China (%6.1), Switzerland (%4.5), Russia (%3.3). 
  9. Biggest Import Partners of Japan : European Union (%54.8), China (%8.9), US (%5.5), Switzerland (%4.2), Russia (%3.3).

Biggest Banks in Germany and their SWIFT Codes : 









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What are the key points of consideration when working with a letter of credit which is issued in Germany? 

You should understand German economy, German exports and imports as well as German banks before you proceed to work with a letter of credit which is issued in Germany.
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Capital
Berlin
Government
Federal parliamentary constitutional republic
Population
80,399,300
Gross domestic product, PPP
$3.197,00 billion
Currency
Euro (€) (EUR)
International Tel. Code
+49
Bank Name
Assets (billion USD)
Swift Code(BIC)
Deutsche Bank  
1,906,00
DEUTDEFF
Commerzbank
754
COBADEFF
KfW Bankengruppe
441
KFWIDEFF
LBBW Landesbank Baden-Württemberg
374
SOLADEST
UniCredit Bank AG (HYPOVEREINSBANK)
372
HYVEDEMM
Hypo Real Estate Bank AG
328
REBMDEMM
Bayerische Landesbank
316
BYLADEMM