Lower Saxony - Economy

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Structured data parsed from Wikipedia. Economy Agriculture, strongly weighted towards the livestock sector, has always been a very important economic factor in the state. The north and northwest of Lower Saxony are mainly made up of coarse sandy soil that makes crop farming difficult and therefore grassland and cattle farming are more prevalent in those areas. Lower Saxony is home, in 2017, to one in five of Germany's cattle, one in three of the country's pigs, and 50% of its hens. Wheat, potatoes, rye, and oats are among the state's present day arable crops. Towards the south and southeast, extensive loess layers in the soil left behind by the last ice age allow high yield crop farming. One of the principal crops there is sugar beet. Consequently, the Land has a big food industry, mainly organized in small and medium sized enterprises (SME). Big players are Deutsches Milchkontor and PHW Group (biggest German poultry farmer and producer). Mining has also been an important source of income in Lower Saxony for centuries. Silver ore became a foundation of notable economic prosperity in the Harz Mountains as early as the 12th century, while iron mining in the Salzgitter area and salt mining in various areas of the state became another important economic backbone. Although overall yields are comparatively low, Lower Saxony is also an important supplier of crude oil in the European Union. Mineral products still mined today include iron and lignite. Radioactive waste is frequently transported in the area to the city of Salzgitter, for the deep geological repository Schacht Konrad and between Schacht Asse II in the Wolfenbüttel district and Lindwedel and Höfer. Manufacturing is another large part of the regional economy. Despite decades of gradual downsizing and restructuring, the car maker Volkswagen with its five production plants within the state's borders still remains the single biggest private sector employer, its world headquarters in Wolfsburg. Due to the Volkswagen Law, which has recently been ruled illegal by the European Union's high court, the state of Lower Saxony is still the second largest shareholder, owning 20.3% of the company. Thanks to the importance of car manufacturing in Lower Saxony, a thriving supply industry is centred around its regional focal points. Other mainstays of the Lower Saxon industrial sector include aviation (the region of Stade is called CFK Valley), shipbuilding (e.g. Meyer Werft), biotechnology, and steel. Medicine plays a major role: Hanover and Göttingen have two large University Medical Schools and hospitals and Otto Bock in Duderstadt is the word leader in prosthetics. The service sector has gained importance following the demise of manufacturing in the 1970s and 1980s. Important branches today are the tourism industry with TUI AG in Hanover, one of Europe's largest travel companies, as well as trade and telecommunication. Hanover is one of Germany's main location of insurance companies e. g. Talanx, Hannover Re . In October 2018 the unemployment rate stood at 5.0% and was marginally higher than the national average.

Data Source : WIKIPEDIA
Number of Data columns : 19 Number of Data rows : 1
Categories : economy, demography, politics, knowledge


Data row number Year 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

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Data Columns

Name Description Data Type
Year text
2000 double precision
2001 double precision
2002 double precision
2003 double precision
2004 double precision
2005 double precision
2006 double precision
2007 double precision
2008 double precision
2009 double precision
2010 double precision
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2017 double precision

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