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 EUR 661.5 billion (2021), Bavaria's economy ranks number seven within the EU. As a comparison: the entire EU (27) generates a gross domestic product of approximately EUR 14.5 trillion (2021). It's no wonder that Bavaria, at 3.5 % (2021), has the lowest unemployment rate in Germany. Germany's national unemployment averages 5.7 %.
You can find further economic data in the brochure:
SMEs are the backbone of the Bavarian economy and represent a guarantee for prosperity, future-oriented jobs and training opportunities. This includes small and medium-sized businesses in commerce, crafts and trades, the services industry and freelance professions. With 600,000 companies providing 3,6 million jobs falling under social security coverage, SMEs are dynamic and highly productive all over Bavaria. And 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.
Bavaria's Cluster Policy
With the Cluster Initiative (External link) , the Bavarian State Government is promoting the competitiveness of Bavarian companies in 17 key sectors. Cluster platforms operate on a statewide level to network numerous small and medium-sized companies and research organisations. They lead companies previously uninvolved in research to knowledge carriers, thereby helping cluster partners.
Take a look at the cluster brochure (Download) .