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The year 1964

In the non-Communist countries of Europe, gross national product rose across the board more strongly than in the previous year, reaching a growth figure of around 5 percent. Apart from in Italy, industrial production also continued to rise. The poor economic situations of both Italy and France were largely responsible for the slowdown in the average rate of growth in the EEC compared with the previous 12 months.

Within the EEC, the leading position was assumed by the Federal Republic which, once again, performed more strongly than in the previous year. At 6.5 percent, the rate of growth in gross national product for West Germany was matched by no other member state in 1964. In addition, the Federal Republic returned the lowest rise in prices and was the only EEC country to generate high export surpluses. In global trade, with exports up by 11.3 percent, West Germany cemented its second place behind the USA. Other notable features were the surge of around 8 percent in private consumption and the high level of capital investments, which increased by 14.3 percent. The second and fourth quarters in particular saw industrial production increase significantly. Overall sales in the chemicals industry rose by around 10 percent; however, it was not only the Federal Republic which experienced a distinct rise in the production of plastics. In terms of exports, which rose by around 14 percent, the leading position was occupied by industrial chemicals, ahead of plastics and pharmaceuticals. In mechanical engineering, production volume fell by 3.3 percent; however, the value of this did rise by 0.2 percent. With exports into the EEC gathering speed, overall exports in the sector rose by 6.6 percent.

Annual report 1964 (German)