Name: Germany GDP Annual Growth Rate
Creator: TRADING ECONOMICS
License: https://creativecommons.org/licenses/by/4.0/
Keywords: Germany,GDP Annual Growth Rate,data,chart,actual,historical,values,calendar,forecast,graph,2023,2024,2025

Germany's economy contracted by 0.2% year-on-year in the final quarter of 2023, marking a consecutive decline from the 0.3% contraction in the preceding period. This downturn heralded the nation's entry into a technical recession for the first time since 2020-21, attributed to the compounding effects of escalating prices, heightened borrowing costs, and subdued external demand. source: Federal Statistical Office

The Gross Domestic Product (GDP) in Germany contracted 0.20 percent in the fourth quarter of 2023 over the same quarter of the previous year. GDP Annual Growth Rate in Germany averaged 1.84 percent from 1971 until 2023, reaching an all time high of 10.80 percent in the second quarter of 2021 and a record low of -10.60 percent in the second quarter of 2020. This page provides the latest reported value for - Germany GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Germany GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on April of 2024.

The Gross Domestic Product (GDP) in Germany contracted 0.20 percent in the fourth quarter of 2023 over the same quarter of the previous year. GDP Annual Growth Rate in Germany is expected to be 0.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Germany GDP Annual Growth Rate is projected to trend around 1.20 percent in 2025 and 1.60 percent in 2026, according to our econometric models.

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Related	Last	Previous	Unit	Reference
Full Year GDP Growth	-0.30	1.80	percent	Dec 2023
GDP Growth Rate YoY	-0.20	-0.30	percent	Dec 2023
GDP Constant Prices	814.67	817.01	EUR Billion	Dec 2023
GDP from Agriculture	6.41	7.85	EUR Billion	Dec 2023
GDP from Construction	66.58	60.24	EUR Billion	Dec 2023
GDP from Manufacturing	197.59	192.01	EUR Billion	Dec 2023
GDP from Public Administration	184.74	173.95	EUR Billion	Dec 2023
GDP from Services	158.80	156.70	EUR Billion	Dec 2023
GDP Growth Rate	-0.30	0.00	percent	Dec 2023
Gross Fixed Capital Formation	162.14	165.26	EUR Billion	Dec 2023
Gross National Product	1089.79	1071.91	EUR Billion	Dec 2023

Germany GDP Annual Growth Rate

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.