Economy
Kiel's economy is dominated by the service sector, transport and maritime industries. Kiel is also one of the major ports of the German Navy, and a leading centre of German high-tech military and civil shipbuilding. Kiel is the home of Howaldtswerke-Deutsche Werft, a shipyard founded in 1838 famed for its construction of submarines. HDW built the first German submarine Brandtaucher in 1850, and is today a subsidiary of ThyssenKrupp Marine Systems, the leading German group of shipyards.
In 2005, the GDP per person was €35,618, which is well above the national average of Germany and 159% of the European Union average.
| 2005 EUROSTAT | Nominal GDP per capita |
|---|---|
| Kiel | €35,618 |
| Schleswig-Holstein | €24,250 |
| Germany | €27,219 |
| EU27 | €22,400 |
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Famous quotes containing the word economy:
“The aim of the laborer should be, not to get his living, to get “a good job,” but to perform well a certain work; and, even in a pecuniary sense, it would be economy for a town to pay its laborers so well that they would not feel that they were working for low ends, as for a livelihood merely, but for scientific, or even moral ends. Do not hire a man who does your work for money, but him who does it for love of it.”
—Henry David Thoreau (1817–1862)
“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)