Germany's economy grew by 1.8 percent in 2022, slowing from a 2.6 percent expansion in 2021, revised data showed. Europe's largest economy was hit by a severe energy crisis due to the war in Ukraine, coupled with stubbornly high inflation, rising borrowing costs, supply constraints and a shortage of skilled workers. The German government in January has revised up its economic forecast for 2023 and now foresees GDP growing by 0.2 percent, up from an autumn forecast of a 0.4 percent decline. source: Federal Statistical Office

Full Year GDP Growth in Germany averaged 1.27 percent from 1992 until 2022, reaching an all time high of 4.20 percent in 2010 and a record low of -5.70 percent in 2009. This page includes a chart with historical data for Germany Full Year GDP Growth. Germany Full Year GDP Growth - data, historical chart, forecasts and calendar of releases - was last updated on June of 2023.

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Germany Full Year GDP Growth

Calendar GMT Actual Previous Consensus TEForecast
2022-01-14 09:00 AM 2021 2.7% -4.6% 2.7% 3.0%
2023-01-13 09:00 AM 2022 1.9% 2.6% 1.8% 1.7%

Related Last Previous Unit Reference
GDP Growth Rate -0.30 -0.50 percent Mar 2023
GDP Annual Growth Rate -0.50 0.80 percent Mar 2023
GDP 4259.93 3889.67 USD Billion Dec 2021

Germany Full Year GDP Growth
The German economy - the fifth largest economy in the world and Europe's largest - is a leading exporter of machinery, vehicles, chemicals, and household equipment and benefits from a highly skilled labor force. Composition of the GDP on the expenditure side: household consumption (55 percent), gross capital formation (20 percent, of which 10 percent in construction, 6 percent in machinery and equipment and 4 percent in other products) and government expenditure (19 percent). Exports of goods and services account for 46 percent of GDP while imports account for 39 percent, adding 7 percent to total GDP.
Actual Previous Highest Lowest Dates Unit Frequency
1.80 2.60 4.20 -5.70 1992 - 2022 percent Yearly
Constant Prices 2015, NSA