Germany’s GDP per capita stood at almost 53,565.04 U.S. dollars in 2023. Germany ranked among the top 20 countries worldwide with the highest GDP per capita in 2021 – Luxembourg, Ireland and Switzerland were ranked the top three nations. Rising annual income in Germany The average annual wage in Germany has increased by around 5,000 euros since 2000, reaching in excess of 39,000 euros in 2016. Germany had the tenth-highest average annual wage among selected European Union countries in 2017, ranking between France and the United Kingdom. Growing employment More than two thirds of the working population in Germany are employed in the service sector, which generated the greatest share of the country’s GDP in 2018. Unemployment in Germany soared to its highest level in decades in 2005, but the rate has since dropped to below 3.5 percent. The youth unemployment rate in Germany has more than halved since 2005 and currently stands around 6.5 percent.

Since 1980, Europe's largest economies have consistently been France, Germany, Italy, Spain, and the United Kingdom, although the former Soviet Union's economy was the largest in the 1980s, and Russia's economy has been larger than Spain's since 2010. Since Soviet dissolution, Germany has always had the largest economy in Europe, while either France or the UK has had the second largest economy depending on the year. Italy's economy was of a relatively similar size to that of the UK and France until the mid 2000s when it started to diverge, resulting in a difference of approximately 800 billion U.S dollars by 2018. Russia's economy had overtaken both Italy and Spain's in 2012, but has fallen since 2014 due to the drop in international oil prices and the economic sanctions imposed for its annexation of Crimea - economic growth is expected to be comparatively low in Russia in the coming years due to the economic fallout of its invasion of Ukraine in 2022.

The Gross Domestic Product (GDP) in Germany contracted 0.20 percent in the fourth quarter of 2024 over the previous quarter. This dataset provides the latest reported value for - Germany GDP Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

With a Gross Domestic Product of over 4.18 trillion Euros, the German economy was by far the largest in Europe in 2023. The similar-sized economies of the United Kingdom and France were the second and third largest economies in Europe during this year, followed by Italy and Spain. The smallest economy in this statistic is that of the small Balkan nation of Montenegro, which had a GDP of 5.7 billion Euros. In this year, the combined GDP of the 27 member states that compose the European Union amounted to approximately 17.1 trillion Euros. The big five Germany’s economy has consistently had the largest economy in Europe since 1980, even before the reunification of West and East Germany. The United Kingdom, by contrast, has had mixed fortunes during the same time period and had a smaller economy than Italy in the late 1980s. The UK also suffered more than the other major economies during the recession of the late 2000s, meaning the French economy was the second largest on the continent for some time afterward. The Spanish economy was continually the fifth-largest in Europe in this 38-year period, and from 2004 onwards, has been worth more than one trillion Euros. The smallest GDP, the highest economic growth in Europe Despite having the smallerst GDP of Europe, Montenegro emerged as the fastest growing economy in the continent, achieving an impressive annual growth rate of 4.5 percent, surpassing Turkey's growth rate of 4 percent. Overall,this Balkan nation has shown a remarkable economic recovery since the 2010 financial crisis, with its GDP projected to grow by 28.71 percent between 2024 and 2029. Contributing to this positive trend are successful tourism seasons in recent years, along with increased private consumption and rising imports. Europe's economic stagnation Malta, Albania, Iceland, and Croatia were among the countries reporting some of the highest growth rates this year. However, Europe's overall performance reflected a general slowdown in growth compared to the trend seen in 2021, during the post-pandemic recovery. Estonia experienced the sharpest negative growth in 2023, with its economy shrinking by 2.3% compared to 2022, primarily due to the negative impact of sanctions placed on its large neighbor, Russia. Other nations, including Sweden, Germany, and Finland, also recorded slight negative growth.

In 2018, Germany’s GDP peaked at around four billion U.S. dollars, the highest GDP the country has reported in decades. It is predicted to grow towards 5.57 billion by 2029. Germany has the fourth-largest GDP in the world, after the United States, China, and Japan. The national debt of Germany has steadily been falling since 2012 and is now about a quarter of the size of Japan’s and half that of the United States. Development of GDP per capita Gross domestic product per capita in Germany has been increasing since 2015 and experienced its last period of decline between the mid-nineties and early noughties. In 2001, GDP per capita was the lowest it had been since the early nineties, but more than doubled by the time of the financial crisis in 2008. GDP per capita fluctuated throughout the subsequent decade, before reaching around 48,000 U.S. dollars in 2018. Largest economic sectors The service sector generates the highest share of GDP in Germany at nearly 70 percent. Finance and telecommunications are a large part of the service sector, as well as tourism – including hospitality and accommodation. Roughly a quarter of GDP currently comes from the production industry, not including construction. Agriculture, fishing, and forestry make up less than one percent.

Graph and download economic data for Real Gross Domestic Product for Germany (CLVMNACSCAB1GQDE) from Q1 1991 to Q4 2024 about Germany, real, and GDP.

Germany: Economic freedom, overall index (0-100): The latest value from 2024 is 72 index points, a decline from 74 index points in 2023. In comparison, the world average is 59 index points, based on data from 174 countries. Historically, the average for Germany from 1995 to 2024 is 71 index points. The minimum value, 64 index points, was reached in 1998 while the maximum of 76 index points was recorded in 2022.

In 2022, Germany's gross domestic product (GDP) amounted to 3,867.05 billion euros. Germany is thus among the leading five countries in the world GDP ranking.

International standing

Germany’s economy is not only one of the largest worldwide, it is also the largest in Europe and predicted to be among the countries with the largest GDP by the year 2030. Additionally, Germany is among the 20 countries with the largest gross domestic product per capita, and it is one of the leading exporters and importers, only surpassed by China and the United States in both cases. Subsequently, it also reports one of the highest trade surpluses worldwide.

Employment

Germany’s national debt amounts to about 60 percent of GDP and is steadily decreasing. It also reports one of the lowest unemployment rates in the European Union. All signs seem to point to a very bright future for Germany’s economy. However, the country has been struggling with skilled labor shortages for a while and many companies are desperately looking for apprentices. This is partly due to very low population growth but also the rising unpopularity of apprenticeships.

Germany DE: GDP: % of Manufacturing: Machinery and Transport Equipment data was reported at 24.498 % in 2021. This records a decrease from the previous number of 25.249 % for 2020. Germany DE: GDP: % of Manufacturing: Machinery and Transport Equipment data is updated yearly, averaging 25.837 % from Dec 2005 (Median) to 2021, with 17 observations. The data reached an all-time high of 28.919 % in 2016 and a record low of 21.394 % in 2009. Germany DE: GDP: % of Manufacturing: Machinery and Transport Equipment data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Germany – Table DE.World Bank.WDI: Gross Domestic Product: Share of GDP. Value added in manufacturing is the sum of gross output less the value of intermediate inputs used in production for industries classified in ISIC major division D. Machinery and transport equipment correspond to ISIC divisions 29, 30, 32, 34, and 35.;United Nations Industrial Development Organization, International Yearbook of Industrial Statistics.;;

Index of economic freedom of Germany went down by 2.17% from 73.70 score in 2023 to 72.10 score in 2024. Since the 4.97% climb in 2022, index of economic freedom dropped by 5.26% in 2024. Economic freedom is the fundamental right of every human to control his or her own labor and property. In an economically free society, individuals are free to work, produce, consume, and invest in any way they please, with that freedom both protected by the state and unconstrained by the state. In economically free societies, governments allow labor, capital and goods to move freely, and refrain from coercion or constraint of liberty beyond the extent necessary to protect and maintain liberty itself. 100 represents the maximum freedom.

GDP per capita is gross domestic product divided by midyear population. GDP is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars.

Throughout the Second World War, the United States consistently had the largest gross domestic product (GDP) in the world. Additionally, U.S. GDP grew significantly throughout the war, whereas the economies of Europe and Japan saw relatively little growth, and were often in decline. The impact of key events in the war is also reflected in the trends shown here - the economic declines of France and the Soviet Union coincide with the years of German invasion, while the economies of the three Axis countries experienced their largest declines in the final year of the war.

This dataset provides values for GDP reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

Germany GOI: Total Rank data was reported at 10.000 NA in 2019. This records a decrease from the previous number of 15.000 NA for 2018. Germany GOI: Total Rank data is updated yearly, averaging 15.000 NA from Dec 2017 (Median) to 2019, with 3 observations. The data reached an all-time high of 16.000 NA in 2017 and a record low of 10.000 NA in 2019. Germany GOI: Total Rank data remains active status in CEIC and is reported by Milken Institute. The data is categorized under Global Database’s Germany – Table DE.Milken: Global Oportunity Index.

Key information about Germany GDP Per Capita

• Germany Gross Domestic Product (GDP) per Capita reached 48,562.101 USD in Dec 2022, compared with 51,202.940 USD in Dec 2021.
• Germany GDP Per Capita data is updated yearly, available from Dec 1970 to Dec 2022, with an average number of 26,468.722 USD.
• The data reached an all-time high of 51,202.940 USD in Dec 2021 and a record low of 2,761.125 in Dec 1970.
• CEIC converts annual GDP per Capita into USD. Statistisches Bundesamt provides GDP per Capita in EUR. Federal Reserve Board average market exchange rate is used for currency conversions. GDP per Capita prior to 1991 is sourced from the World Bank.

• In the latest reports, Germany GDP contracted 0.520 % YoY in Mar 2023.
• Germany Nominal GDP reached 1,072.807 USD bn in Mar 2023.
• Its GDP deflator (implicit price deflator) increased 6.216 % in Mar 2023.
• Gross Savings Rate of Germany was measured at 29.596 % in Mar 2023.

The gross domestic product of the United Kingdom was around 2.56 trillion British pounds, an increase when compared to the previous year, when UK GDP amounted to about 2.54 trillion pounds. The significant drop in GDP visible in 2020 was due to the COVID-19 pandemic, with the smaller declines in 2008 and 2009 because of the global financial crisis of the late 2000s. Low growth problem in the UK Despite growing by 0.9 percent in 2024, and 0.4 percent in 2023 the UK economy is not that much larger than it was before the COVID-19 pandemic. Since recovering from a huge fall in GDP in the second quarter of 2020, the UK economy has alternated between periods of contraction and low growth, with the UK even in a recession at the end of 2023. While economic growth picked up somewhat in 2024, GDP per capita is lower than it was in 2022, following two years of negative growth. How big is the UK economy in relation to the rest of the world? As of 2024, the UK had the sixth-largest economy in the world, behind the United States, China, Japan, Germany, and India. Among European nations, this meant that the UK currently has the second-largest economy in Europe, although the economy of France, Europe's third-largest economy, is of a similar size. The UK's global economic ranking will likely fall in the coming years, however, with the UK's share of global GDP expected to fall from 2.16 percent in 2025 to 2.02 percent by 2029.  

Germany GOI: Weighted Rank data was reported at 12.000 NA in 2019. This records a decrease from the previous number of 25.000 NA for 2018. Germany GOI: Weighted Rank data is updated yearly, averaging 21.000 NA from Dec 2017 (Median) to 2019, with 3 observations. The data reached an all-time high of 25.000 NA in 2018 and a record low of 12.000 NA in 2019. Germany GOI: Weighted Rank data remains active status in CEIC and is reported by Milken Institute. The data is categorized under Global Database’s Germany – Table DE.Milken: Global Oportunity Index.

Germany recorded a Government Debt to GDP of 62.90 percent of the country's Gross Domestic Product in 2023. This dataset provides the latest reported value for - Germany Government Debt to GDP - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Entries and exits of industries in Top 3 and bottom 3 regions in terms of RV.

Key information about Germany Gross National Product (GNP)

• Germany Gross National Product (GNP) was reported at 1,232.533 USD bn in Dec 2024.
• This records an increase from the previous number of 1,229.687 USD bn for Sep 2024.
• Germany Gross National Product (GNP) data is updated quarterly, averaging 837.264 USD bn from Mar 1991 to Dec 2024, with 136 observations.
• The data reached an all-time high of 1,232.533 USD bn in Dec 2024 and a record low of 444.672 USD bn in Jun 1991.

• Germany Gross National Product (GNP) data remains active status in CEIC and is reported by CEIC Data.
• CEIC converts quarterly Gross National Product into USD. Statistisches Bundesamt provides Gross National Product in EUR. Federal Reserve Board average market exchange rate is used for currency conversions.