Economy
In 2009, the nominal GDP of the citystate Berlin experienced a growth rate of 1.7% (−3.5% in Germany) and totaled €90.1 (~$117) billion. Berlin's economy is dominated by the service sector, with around 80% of all companies doing business in services. The unemployment rate reached a 15-year low in September 2011 and stood at 12.7% (German average: 6.6%).
Fast-growing economic sectors in Berlin include communications, life sciences, and transportation, particularly services that use information and communication technologies, as well as media and music, advertising and design, biotechnology, environmental services, and medical engineering.
The Science and Business Park of Berlin-Adlershof is among the 15 largest technology parks worldwide. Research and development have high economic significance for the city, and the Berlin–Brandenburg region ranks among the top-three innovative regions in the EU.
Read more about this topic: Berlin
Famous quotes containing the word economy:
“I favor the policy of economy, not because I wish to save money, but because I wish to save people. The men and women of this country who toil are the ones who bear the cost of the Government. Every dollar that we carelessly waste means that their life will be so much the more meager. Every dollar that we prudently save means that their life will be so much the more abundant. Economy is idealism in its most practical terms.”
—Calvin Coolidge (1872–1933)