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.

In the second quarter of 2024, Germany's gross domestic product (GDP) continued to increase compared to the previous quarter (seasonally and calendar adjusted), at 1,070 billion euros. During the first pandemic lockdown in the third quarter of 2020, the GDP was at around 857.04 billion euros. The outbreak of the COVID-19 pandemic led to a recession in 2020.

In 2023, Germany's real gross domestic product fell by around 0.26 percent compared to the previous year. Keeping it real Real gross domestic product is, by definition, a measure of the value of economic output adjusted for inflation. While nominal gross domestic product (GDP), often only referred to as gross domestic product, reflects the state of a country’s economy including everything produced by the inhabitants within the country, real GDP is a more precise measurement of economic growth since it takes price change into account. Germany’s race to the topGermany’s social market economy is one of the largest worldwide and continues to thrive. One of the strongest industries in Germany is car manufacturing: Several German vehicle manufacturers, like Daimler, Volkswagen, or BMW, are among the major global market players and have brought in billions of euros in revenue in the past years, fueling the economy for years to come.

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

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.

Key information about Germany Nominal GDP Growth

• Germany Nominal GDP Growth was reported at 2.271 % in Dec 2024.
• This records a decrease from the previous number of 2.436 % for Sep 2024.
• Germany Nominal GDP Growth data is updated quarterly, averaging 4.567 % from Mar 1961 to Dec 2024, with 256 observations.
• The data reached an all-time high of 24.978 % in Jun 1991 and a record low of -8.152 % in Jun 2020.
• Germany Nominal GDP Growth data remains active status in CEIC and is reported by CEIC Data.
• The data is categorized under World Trend Plus’s Global Economic Monitor – Table: Nominal GDP: Y-o-Y Growth: Quarterly: Seasonally Adjusted.

In 2022, the global economic development slowed down. After bouncing back and being on track to recover from the disruptions caused by the COVID-19 pandemic, economies worldwide started suffering again due to high inflation and disrupted supply chains. During the second quarter of 2024, the GDP growth rate in the countries included varied, with the GDP of India growing by 1.3 percent. Meanwhile, the GDP of Germany shrunk by 0.1 percent in the second quarter of 2024.

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.

Graph and download economic data for Nominal Gross Domestic Product for Germany (NGDPSAXDCDEQ) from Q1 1991 to Q4 2024 about Germany and GDP.

Graph and download economic data for Gross Domestic Product for Germany (CPMNACSCAB1GQDE) from Q1 1991 to Q4 2024 about Germany and GDP.

Germany DE: GDP: Growth:(GDP) Gross Domestic Productper Capita data was reported at 0.354 % in 2023. This records a decrease from the previous number of 0.642 % for 2022. Germany DE: GDP: Growth:(GDP) Gross Domestic Productper Capita data is updated yearly, averaging 1.958 % from Dec 1961 (Median) to 2023, with 63 observations. The data reached an all-time high of 6.570 % in 1969 and a record low of -5.306 % in 2009. Germany DE: GDP: Growth:(GDP) Gross Domestic Productper Capita 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: Annual Growth Rate. Annual percentage growth rate of GDP per capita based on constant local currency. GDP per capita is gross domestic product divided by midyear population. GDP at purchaser's prices 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.;World Bank national accounts data, and OECD National Accounts data files.;Weighted average;

In 2023, the German economy shrunk by 0.3 percent. This was due to persistently high inflation that was triggered by the start of the Russia-Ukraine war in 2022. For 2024 and 2025, the economy is predicted to begin growing again.

Germany DE: GDP: Growth: Household Final Consumption Expenditure per Capita data was reported at -1.528 % in 2023. This records a decrease from the previous number of 3.171 % for 2022. Germany DE: GDP: Growth: Household Final Consumption Expenditure per Capita data is updated yearly, averaging 1.355 % from Dec 1971 (Median) to 2023, with 53 observations. The data reached an all-time high of 5.289 % in 1971 and a record low of -5.930 % in 2020. Germany DE: GDP: Growth: Household Final Consumption Expenditure per Capita 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: Annual Growth Rate. Annual percentage growth of household final consumption expenditure per capita, which is calculated using household final consumption expenditure in constant 2010 prices and World Bank population estimates. Household final consumption expenditure (private consumption) is the market value of all goods and services, including durable products (such as cars, washing machines, and home computers), purchased by households. It excludes purchases of dwellings but includes imputed rent for owner-occupied dwellings. It also includes payments and fees to governments to obtain permits and licenses. Here, household consumption expenditure includes the expenditures of nonprofit institutions serving households, even when reported separately by the country.;World Bank national accounts data, and OECD National Accounts data files.;Weighted average;

Germany DE: GDP: Growth: Gross Fixed Capital Formation data was reported at -1.205 % in 2023. This records a decrease from the previous number of -0.199 % for 2022. Germany DE: GDP: Growth: Gross Fixed Capital Formation data is updated yearly, averaging 2.080 % from Dec 1971 (Median) to 2023, with 53 observations. The data reached an all-time high of 7.996 % in 1990 and a record low of -9.665 % in 2009. Germany DE: GDP: Growth: Gross Fixed Capital Formation 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: Annual Growth Rate. Average annual growth of gross fixed capital formation based on constant local currency. Aggregates are based on constant 2015 prices, expressed in U.S. dollars. Gross fixed capital formation (formerly gross domestic fixed investment) includes land improvements (fences, ditches, drains, and so on); plant, machinery, and equipment purchases; and the construction of roads, railways, and the like, including schools, offices, hospitals, private residential dwellings, and commercial and industrial buildings. According to the 2008 SNA, net acquisitions of valuables are also considered capital formation.;World Bank national accounts data, and OECD National Accounts data files.;Weighted average;

Graph and download economic data for National Accounts: GDP by Expenditure: Constant Prices: Gross Domestic Product: Total for Germany (NAEXKP01DEQ657S) from Q2 1970 to Q4 2024 about Germany, real, and GDP.

Key information about Germany GDP Deflator Growth

• Germany GDP deflator (implicit price deflator) increased 6.1 % in Dec 2022, compared with an increase of 4.9 % in the previous quarter.
• Germany GDP Deflator Growth data is updated quarterly, available from Mar 1992 to Dec 2022, with an average rate of 1.5 %.
• The data reached an all-time high of 6.3 % in Jun 2022 and a record low of -0.9 % in Jun 2000.

• In the latest reports, Germany GDP contracted 0.1 % YoY in Mar 2023.
• Its Nominal GDP reached 1,078.9 USD bn in Mar 2023.
• Germany GDP Per Capita reached 48,527.4 USD in Dec 2022.
• Its Gross Savings Rate was measured at 26.2 % in Dec 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: Growth: Adjusted Net National Income data was reported at 2.071 % in 2021. This records an increase from the previous number of -4.726 % for 2020. Germany DE: GDP: Growth: Adjusted Net National Income data is updated yearly, averaging 2.231 % from Dec 1971 (Median) to 2021, with 51 observations. The data reached an all-time high of 5.558 % in 1990 and a record low of -4.726 % in 2020. Germany DE: GDP: Growth: Adjusted Net National Income 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: Annual Growth Rate. Adjusted net national income is GNI minus consumption of fixed capital and natural resources depletion.;World Bank staff estimates based on sources and methods in World Bank's 'The Changing Wealth of Nations: Measuring Sustainable Development in the New Millennium' (2011).;Weighted average;

GDP from Manufacturing in Germany decreased to 169.83 EUR Billion in the fourth quarter of 2024 from 170.87 EUR Billion in the third quarter of 2024. This dataset provides - Germany Gdp From Industrial Production- actual values, historical data, forecast, chart, statistics, economic calendar and news.

The statistic shows the growth rate of the real gross domestic product (GDP) in the United States from 2019 to 2023, with projections up until 2029. GDP refers to the total market value of all goods and services that are produced within a country per year. It is an important indicator of the economic strength of a country. Real GDP is adjusted for price changes and is therefore regarded as a key indicator for economic growth. In 2023, the growth of the real gross domestic product in the United States was around 2.53 percent compared to the previous year. See U.S. GDP per capita and the US GDP for more information.

Real gross domestic product (GDP) of the United States

The gross domestic product (GDP) of a country is a crucial economic indicator, representing the market value of the total goods and services produced and offered by a country within a year, thus serving as one of the indicators of a country’s economic state. The real GDP of a country is defined as its gross domestic product adjusted for inflation.

An international comparison of economic growth rates has ranked the United States alongside other major global economic players such as China and Russia in terms of real GDP growth. With further growth expected during the course of the coming years, as consumer confidence continues to improve, experts predict that the worst is over for the United States economy.

A glance at US real GDP figures reveals an overall increase in growth, with sporadic slips into decline; the last recorded decline took place in Q1 2011. All in all, the economy of the United States can be considered ‘well set’, with exports and imports showing positive results. Apart from this fact, the United States remains one of the world’s leading exporting countries, having been surpassed only by China and tailed by Germany. It is also ranked first among the top global importers. Despite this, recent surveys revealing Americans’ assessments of the U.S. economy have yielded less optimistic results. Interestingly enough, this consensus has been mutual across the social and environmental spectrum. On the other hand, GDP is often used as an indicator for the standard of living in a country – and most Americans seem quite happy with theirs.