Van Eck Global has launched the Market Vectors Germany Small-Cap ETF, which the firm says is the first exchange-traded fund dedicated solely to Germany. Van Eck also notes that Germany is Europe’s largest and the world’s fourth-largest economy. Germany’s GDP grew 3.6% in 2010.

Van Eck also noted that Germany’s unemployment rate in 2010 was at the lowest since 1992 and that small industrial companies dominate its economy.

“The German economy has rebounded quite strongly from the global economic downturn and appears well positioned to continue to expand,” said Jan van Eck, a principal at Van Eck Global. “With its history of innovation and niche market strengths, the country’s small-cap sector may continue to benefit from strong export-driven demand as well as domestic consumption.”

The fund seeks to replicate the performance of the Market Vectors Germany Small-Cap Index.

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