Editing Saxony (section)

== Economy ==
The [[Gross domestic product]] (GDP) of the state was 124.6 billion euros in 2018, accounting for 3.7% of German economic output. GDP per capita adjusted for purchasing power was 28,100 euros or 93% of the EU27 average in the same year. The GDP per employee was 85% of the EU average. The GDP per capita was the highest of the states of the former GDR.<ref>{{Cite web|url=https://ec.europa.eu/eurostat/documents/2995521/10474907/1-05032020-AP-EN.pdf/81807e19-e4c8-2e53-c98a-933f5bf30f58|title=Regional GDP per capita ranged from 30% to 263% of the EU average in 2018|website=Eurostat}}</ref> Saxony has a "very high" [[Human Development Index]] value of 0.930 (2018), which is at the same level as Denmark.<ref name="GlobalDataLab" /> Within Germany Saxony is [[List of German states by Human Development Index|ranked 9th]].

{| style="float:right; margin-left:1em; margin-bottom:1ex"
|+ '''Unemployment rate'''
|- style="vertical-align:top"
|
{| class="wikitable"
! Year || %
|-
| 1999 || 17.2
|-
| 2000 || 17.0
|-
| 2001 || 17.5
|-
| 2002 || 17.8
|-
| 2003 || 17.9
|-
| 2004 || 17.8
|-
| 2005 || 18.3
|-
| 2006 || 17.0
|-
| 2007 || 14.7
|-
| 2008 || 12.8
|-
| 2009 || 12.9
|}
|
{| class="wikitable"
! Year || %
|-
| 2010 || 11.8
|-
| 2011 || 10.6
|-
| 2012 || {{0}}9.8
|-
| 2013 || {{0}}9.8
|-
| 2014 || {{0}}8.8
|-
| 2015 || {{0}}8.2
|-
| 2016 || {{0}}7.5
|-
| 2017 || {{0}}6.7
|-
| 2018 || {{0}}6.0
|-
| 2019 || {{0}}5.5
|}
|}

Saxony has, after Saxony-Anhalt,<ref name="Der Arbeitsmarket im Juli 2014">{{cite web|url=http://m.ihk-berlin.de/linkableblob/bfachkraefte/produktmarken/statistiken_und_umfragen/818034/.62./data/Fakten_Arbeitsmarkt-data.pdf|title=Die Arbeitsmarkt im Juli 2014|publisher=IHK Berlin|access-date=2014-10-17|url-status=dead|archive-url=https://web.archive.org/web/20141017063756/http://m.ihk-berlin.de/linkableblob/bfachkraefte/produktmarken/statistiken_und_umfragen/818034/.62./data/Fakten_Arbeitsmarkt-data.pdf|archive-date=17 October 2014}}</ref> the most vibrant economy of the states of the former [[East Germany]] (GDR). Its economy grew by 1.9% in 2010.<ref>[http://www.smwa.sachsen.de/de/Wirtschaft/Wirtschaftsstandort_Sachsen/Zahlen_und_Fakten/19159.html Freistaat Sachsen –  Die angeforderte Seite existiert leider nicht] {{webarchive|url=https://web.archive.org/web/20070730002714/http://www.smwa.sachsen.de/de/Wirtschaft/Wirtschaftsstandort_Sachsen/Zahlen_und_Fakten/19159.html |date=30 July 2007 }}. Smwa.sachsen.de. Retrieved on 2013-07-16.</ref> Nonetheless, unemployment remains above the German average. The eastern part of Germany, excluding [[Berlin]], qualifies as an "Objective&nbsp;1" development-region within the [[European Union]], and was eligible to receive investment subsidies up to 30% until 2013.<ref>{{Cite news |title=Germany |url=https://www.economist.com/taxonomy/term/%25?page=37 |access-date=2022-10-13 |newspaper=The Economist |language=en }}{{Dead link|date=January 2023 |bot=InternetArchiveBot |fix-attempted=yes }}</ref> [[FutureSAX]], a business plan competition and entrepreneurial support organisation, has been in operation since 2002.<ref>{{Cite web |title=NextGen {{!}} futureSAX |url=https://www.futuresax.de/en/nextgen |access-date=2023-06-08 |website=www.futuresax.de |language=en}}</ref>

Microchip-makers near Dresden have given the region the nickname "[[Silicon Saxony]]". The publishing and porcelain industries of the region are well known, although their contributions to the regional economy are no longer significant. Today, the automobile industry, machinery production, and services mainly contribute to the economic development of the region.

Saxony reported an average unemployment of 5.5% in 2019.<ref>{{cite web|url=https://de.statista.com/statistik/daten/studie/2522/umfrage/entwicklung-der-arbeitslosenquote-in-sachsen-seit-1999/|title=Arbeitslosenquote* in Sachsen von 1999 bis 2019|website=Statista|access-date=2 February 2020}}</ref>

The Leipzig area, which until recently was among the regions with the highest unemployment rate, could benefit greatly from investments by [[Porsche]] and [[BMW]]. With the [[VW Phaeton]] factory in Dresden, and many parts suppliers, the automobile industry has again become one of the pillars of Saxon industry, as it was in the early 20th century. [[Zwickau]] is another major Volkswagen location. [[Freiberg]], a former mining town, has emerged as a foremost location for solar technology. Dresden and some other regions of Saxony play a leading role in some areas of international biotechnology, such as electronic bioengineering. While these high-technology sectors do not yet offer a large number of jobs, they have stopped or even reversed the [[brain drain]] that was occurring until the early 2000s in many parts of Saxony.<ref>{{Cite web |last=Emmanuel |first=Ojukwu |date=2022-07-06 |title=Nigeria Tech Talent Shortage – How Brain Drain Is Threatening Recruitment |url=https://www.tekedia.com/nigeria-tech-talent-shortage-how-brain-drain-is-threatening-recruitment/ |access-date=2023-06-08 |website=Tekedia |language=en-US}}</ref> Regional universities have strengthened their positions by partnering with local industries. [[Glashütte]] is the birthplace of the [[List of German watch manufacturers|German watchmaking industry]] and home to highly regarded watch manufacturers such as [[A. Lange & Söhne|A.&nbsp;Lange&nbsp;&&nbsp;Söhne]] and [[Glashütte Original]].

<gallery>
File:Luftbild AMD Dresden 2005.jpg|Dresden is the hub of [[Silicon Saxony]].
File:Leipzig Ri.-Le.-Str 6.jpg|{{lang|de|[[Mitteldeutscher Rundfunk]]|italic=no}} is one of Germany's public broadcasters.
File:Leipzig-Halle Airport Check-in.jpg|[[Leipzig/Halle Airport]] is the main hub of [[European Air Transport Leipzig|DHL]] and the fifth-busiest airport in Europe in terms of cargo traffic.
File:Glashütte Original.jpg|[[Glashütte]] is the birthplace of the German watchmaking industry.
File:Leipzig VNG.jpg|[[VNG – Verbundnetz Gas]] in Leipzig is the third-largest natural-gas importer in Germany.
File:Porsche Diamond.jpg|[[Porsche]] customer center in Leipzig
File:BMW Leipzig MEDIA Download Luftaufnahme 3 max.jpg|[[BMW]] production facility in Leipzig
File:160 Jahre Waggonbau in Bautzen.jpg|[[Bombardier Transportation]] in Bautzen
</gallery>

=== International trade ===
Saxony is a strongly export-oriented economy. In 2018, exports amounted to 40.48 billion euros while imports stood at 24.41 billion euros. The largest export partner of Saxony is [[China]] with an amount of 6.72 billion euros, while the second largest export market are the United States with 3.59 billion.<ref>{{cite web |publisher=Saechsisches Landesamt fuer Statistik (Saxon Statistics Authority) |title=Sachsens Exportpartner 2020 (insgesamt €36,79 Mrd.) |url=https://standort-sachsen.de/de/exporteure/sachsens-aussenhandel|access-date=7 June 2019}}</ref> The largest exporting sectors are the automobile industry and mechanical engineering.

In April 2022, Saxony received about 84% of its imported oil and gas from Russia while nationally Germany only imported about one third from Russia.<ref>{{cite news |last1=Stanley-Becker |first1=Isaac |last2=Guinan-Bank |first2=Vanessa |url=https://www.washingtonpost.com/world/2022/04/15/germany-ukraine-communist-east-russia/ |title=Russia finds sympathy in Germany's east, Putin's old stomping ground: As Berlin faces calls to deepen its support for Ukraine, attitudes in Saxony show competing pressures on German leaders |newspaper=[[Washington Post]] |date=19 April 2022 |archive-date=15 April 2022 |archive-url=https://archive.today/20220415093303/https://www.washingtonpost.com/world/2022/04/15/germany-ukraine-communist-east-russia/ |access-date=20 April 2022 |url-status=live }}</ref> This is mainly due to the pipeline network, which since the time of the GDR has been strongly integrated with the Soviet Union, similar to other states of Eastern Europe.<ref>{{Cite journal |last1=Vale |first1=Michel |last2=Bethkenhagen |first2=Jochen |date=1982 |title=The Development of GDR Economic Relations with the USSR |url=https://www.jstor.org/stable/40470040 |journal=International Journal of Politics |volume=12 |issue=1/2 |pages=232–260 |jstor=40470040 |issn=0012-8783}}</ref>

=== Tourism ===
Saxony is a renowned [[Tourism in Germany|tourist destination in Germany]]. The cities of Dresden and Leipzig are two of Germany's most visited cities.<ref name="deutschertourismusverband">[http://www.deutschertourismusverband.de/fileadmin/Mediendatenbank/PDFs/Zahlen_Daten_Fakten_2012_aktuell.pdf Zahlen Daten Fakten 2012] {{Webarchive|url=https://web.archive.org/web/20150101015058/http://www.deutschertourismusverband.de/fileadmin/Mediendatenbank/PDFs/Zahlen_Daten_Fakten_2012_aktuell.pdf |date=1 January 2015 }} (in German), German National Tourist Board</ref> Areas along the border with the Czech Republic, such as the [[Lusatian Mountains]], [[Ore Mountains]], [[Saxon Switzerland]], and [[Vogtland]], attract significant numbers of visitors. In addition, Saxony has well-preserved historic towns such as [[Görlitz]], [[Bautzen]], [[Freiberg]], [[Pirna]], [[Meissen]] and [[Stolpen]] as well as numerous castles and palaces. New tourist destinations are developing, notably in the [[Lusatian Lake District]].<ref>{{cite news|url=http://www.economist.com/node/4323186|title=Still Troubled|newspaper=[[The Economist]]|access-date=2014-08-25}}</ref>
<gallery>
File:Dresden-nightpanorama-dri.jpg|Dresden is one of the most visited cities in Germany and Europe.
File:100130 150006 Dresden Frauenkirche winter blue sky-2.jpg|The [[Dresden Frauenkirche]]. It now serves as a symbol of reconciliation between former warring enemies.
File:Markkleeberger See Bootsanlegestelle.jpg|[[Neuseenland|Leipziger Neuseenland]] is a large lake district south of Leipzig, one of Germany's most vibrant cities.
File:Basteibrücke morgens (Zuschnitt).jpg|The [[Bastei]] bridge in [[Saxon Switzerland]]
File:Rakotz Bridge 26-12-2014.JPG|The Rakotz bridge at [[Azalea and Rhododendron Park Kromlau]]
File:Goerlitz_stadtansicht.jpg|The historical city of [[Görlitz]]
File:Meissen001.jpg|The [[Elbe|Elbe valley]] with [[Meissen]] in the background
File:Panorama Moritzburg (125549417).jpeg|Saxony is home to numerous castles, such as ''[[Schloss Moritzburg]]'' north of Dresden.
File:Blick vom Großen Fichtelberg.jpg|[[Oberwiesenthal]], [[Ore Mountains]]
</gallery>