The 27 member countries in the European Union account collectively for one-sixth of global trade and make up the world’s third-largest economy, behind the United States and China. But the EU’s economic clout derives disproportionately from one powerhouse member: Germany generates 25% of the EU’s annual GDP of 16 trillion euros (equivalent to US$17.569 trillion).

The CIA World Factbook sums up Germany’s economic strengths and challenges:^a on one hand, a service-based and export-driven economy, highly skilled and educated labor force, and conservative fiscal policies; on the other hand, disruptions caused by lost access to Russian gas, increased defense spending, and rising debts.