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Germany in Numbers

Germany is home to the largest economy in Europe. Highly industrialized and diversified, the national economy accounts for around 25 percent of European gross domestic prodction.

Germany’s economy has been affected by the global coronavirus pandemic. However, the expected economic downturn in 2020 was less severe than expected. Gross domestic production was down 4.9 percent in 2020 - significantly less than the slump experienced in other countries. Large catch-up and carry-over effects in 2021 and 2022 should buoy the German economy, allowing the country to return to pre-crisis levels in 2022.

Strong Economy

The economic effects of the coronavirus pandemic were less severe than previously expected. The Federal Government's comprehensive and rapid support since the beginning of the crisis has proven effective to date.

According to data from the Federal Ministry for Economic Affairs and Energy, Germany’s GDP fell by 4.6 percent in 2020. In its autumn forecast 2021 the German Government expects GDP to grow by 2.6 percent in 2021. For 2022 the government predicts the economy to growth by 4.1 percent.

German Economic Performance


2020

2021*

2022*

GDP

 -4.6

+2.6

+4.1

Private Consumption

-5.9

+0.3

+6.6

Imports

-8.6

+9.2

+7.1

Exports

-9.3

+8.6

+6.3

Gross Fixed Capital Investment

-2.2

+2.6

+3.9

Price adjusted year-on-year changes (in %) *Forecast Source: Federal Ministry for Economic Affairs and Climate Action 2021

Economic Structure & Activity

Gross domestic production increased by 3.5 percent in 2021, after the downturn of almost five percent caused by the Covid-19 pandemic in 2020.

Economic Activity (2020)

GDP

EUR 3,332 billion (nominal)

GDP per Capita

EUR 40,072

GDP by Sector

Services 70%, Industry 23%, Construction 6%, Agriculture 1%

GDP Growth

2020: -4.9%, 2021: 3.5%. 2022: 3.6%

Inflation Rate

0.4%

Exports of Goods

EUR 1,204 billion

Imports of Goods

EUR 1,025 billion

Economic Structure (latest figures as of 2020)

Number of Companies

3.5 million

Percentage of which are SMEs

99.5%

Total Turnover All Companies

EUR 6.97 trillion

Total SME Turnover

34.4%

Total Employees

43 million - largest pool of labor in the EU

Number of Employees in SMEs

60%

Infrastructure

Germany’s infrastructure excellence is confirmed by a number of studies conducted by the World Economic Forum  and the World Bank.

German Infrastructure Numbers (2020)

Area

357,581 km²

Coastline

2,389 km

International Passenger Airports

22

Seaports

24

Inland Ports

250

Waterways

7,350

Roadways

230,000 km (of which 13,000 km highway)

Railways

38,000 km


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