You can change your personal cookie settings through your internet browser settings. Contact Annual percentage growth rate of GDP at market prices based on constant local currency. Germany's 'golden decade' coming to a close? The German government is forecasting significantly weaker economic growth this year. Higher labour force participation and the immigration of foreign workers more than offset age-related demographic effects and emigration from Germany, as had been the case in the preceding years. Basic Income: A Way Out of Poverty in a Time of Pandemic or Utopia, Justice Ginsburg's Fight for Gender Quality Yet Unfulfilled, Current account balance as a share of GDP. Exports of goods and services account for 46 percent of GDP while imports for 39 percent, adding 7 percent to total GDP. Legal notice | "The golden decade Germany has seen for growth is gradually coming to an end," Holger Schmieding of Berenberg bank told news agency AFP. This has been the longest period of growth in united Germany. Germany GDP (Gross Domestic Product) was INT$3,735.39billion for 2019 in PPP terms. In the previous two years, the price-adjusted GDP grew much more strongly (by 2.5% in 2017 and by 1.5% in 2018). What do they expect for this year? World and regional statistics, national data, maps and rankings, Latest releases of new datasets and data updates from different sources around the world. The detailed calculations will continue to be published in a detailed press release about 55 days after the end of the quarter (that is, on 25 August 2020 for the second quarter). License: CC BY-4.0 Line Bar Map. Germany (0.5%y/y) & … Germany is the second largest exporter in the world and exports account for more than one-third of national output. (29.11.2019), The German economy has surprised experts by growing slightly in the third quarter. Annual percentage growth rate of GDP at market prices based on constant local currency. Gross fixed capital formation in machinery and equipment, however, increased less strongly (+0.4%). This was the deepest economic contraction on record, as efforts to contain the rapid spread of COVID-19 hit activity and demand. Particularly strong increases were recorded for civil engineering and housing construction. Knoema is the most comprehensive source of global decision-making data in the world. This Section / Page contains links to the 3rd party websites of our top partners from whom we may receive compensation. July 10, 2019. Starting with the second quarter of 2020, the Federal Statistical Office will release results of the GDP early estimate as early as 30 days after the end of any quarter. Gross fixed capital formation in construction was up a price-adjusted 3.8% on a year earlier. Gross domestic product increased for the tenth year in a row, though with less momentum. Merkel's government is facing increasing pressure both at home and abroad to relax its strict adherence to its no-new-debts policy known as the "black zero.". The German economy thus has grown for the tenth year in a row. Weak growth is also predicted for 2020. Central government accounted for the largest share of the surplus (19.2 billion euros), followed by state government (13.3 billion euros), social security funds (10.7 billion euros) and local government (6.6 billion euros). Annual percentage growth rate of GDP at market prices based on constant local currency. Sharp drops were however recorded in many parts of industry. Germany gdp growth rate for 2019 was 0.56%, a 0.96% decline from 2018. Five Takeaways from Germany's Economic Outlook. Germany lowers 2019 growth forecast to 0.5 percent. WIESBADEN - According to first calculations of the Federal Statistical Office (Destatis), the price-adjusted gross domestic product (GDP) was 0.6% higher in 2019 than in the previous year. GDP is the sum of gross value added by all resident producers in the economy plus any product taxes and minus … The most unreliable economic data is produced in Argentina which has manipulated inflation and GDP statistics since 2007. 2019 GDP. Our Insights blog presents deep data-driven analysis and visual content on important global issues from the expert data team at Knoema. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. German growth for 2019 fell to 0.6% — down from the 1.5% growth rate logged in 2018 and significantly lower than the 2.5% rate in 2017. However, growth lost momentum in 2019. Germany’s economic performance has been strong for the past decade, with the unemployment rate currently at a record low, and healthy public and private balance sheets. Privacy Policy | The highest growth rate was recorded by the construction industry (+4.0%). This 0.9% increase was mainly due to a rise in employment subject to social insurance. According to first calculations, 45.3 million people were in employment, that is roughly 400,000 more than in 2018. Though Germany real GDP growth fluctuated substantially in recent years, it tended to increase through 2000 - 2019 period ending at 0.6 % in 2019. Germany's GDP growth was confirmed at a seasonally-adjusted 0.1 percent in the third quarter of 2019, compared to a 0.2 percent contraction in the previous three-month period. GDP growth (annual %) - Germany. The latest data is likely to inflame tensions between Merkel's conservatives and their junior coalition partners, the center-left Social Democrats (SPD). Gustav-Stresemann-Ring 11 Our tools allow individuals and organizations to discover, visualize, model, and present their data and the world’s data to facilitate better decisions and better outcomes. In 2019, real GDP growth for Germany was 0.6 %. Though Germany real GDP growth fluctuated substantially in recent years, it tended to increase through 2000 - 2019 period ending at 0.6 % in 2019. The GDP early estimate for the second quarter of 2020 will be released already in late July 2020; it will replace the GDP first release which currently is published after 45 days. This means that the increase in household and government final consumption expenditure was larger than in the previous two years (household final consumption expenditure +1.3% year on year both in 2017 and in 2018; government final consumption expenditure +2.4% in 2017 and +1.4% in 2018, year on year). Total price-adjusted gross capital formation, which covers gross fixed capital formation and changes in inventories (including acquisitions less disposals of valuables), fell by 1.7% in 2019 year on year. Experts blame Brexit and trade conflicts, while Merkel's government has come under pressure to eschew its no-new-debts policy and spend more. None; Aggregates; Same region; Similar values; Highest values; Lowest values; Share Details. For analysts, the latest figures signal a possible end of an era for Europe's largest economy, which has seen continuous economic growth since 2009. Detailed information can be found in our data privacy statement: Privacy Policy, Final consumption expenditure of  households and, G r o s s   d o m e s t i c   p r o d u c t   (GDP), Final consumption expenditure of households and, Contributions to growth of price-adjusted GDP in percentage points, Balance of exports and imports (net exports). FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website. World Economics makes available of world’s most comprehensive GDP database covering over 130 countries with historical GDP PPP data from 1870-2019, building on the lifetimes work of Angus Maddison. The narrow escape was largely due to consumer spending. Backlinks from other websites and blogs are the lifeblood of our site and are our primary source of new traffic. © World Economics Limited. GDP is the sum of gross value added by all resident producers in the economy plus any product taxes and minus … | Mobile version, logged a massive €13.5 billion ($15 billion) surplus, Germany falls in global competitiveness ranking. This means that a first official assessment of the development of the quarterly GDP for Germany will be available two weeks earlier than in the past. Visualised updated results are also provided in our interactive national accounts dashboard (available only in German). Consequently, total price-adjusted gross value added rose by just 0.5% in 2019 on the previous year. Composition of the GDP on the expenditure side: household consumption (55 percent), gross capital formation (20 percent, of which 10 percent in construction, 6 percent in machinery and equipment and 4 percent in other products) and government expenditure (19 percent). Last month, Germany’s leading economic research institute sharply downgraded its forecasts for Europe’s largest economy. 65189 Wiesbaden, ©  In a sign of possible change, the government announced on Tuesday that it will pump €62 billion into revamping Germany's rail network system. GDP is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. The Ifo Institute’s … Germany's GDP growth was confirmed at a seasonally-adjusted 0.1 percent in the third quarter of 2019, compared to a 0.2 percent contraction in the previous three-month period. The German central bank, the Bundesbank, predicts that growth for 2020 will remain on the level as last year. 1971 - 2019 GDP (constant 2010 US$) GDP (current US$) GDP (constant LCU) GDP: linked series (current LCU) GDP, PPP (constant 2017 … FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved. Germany's gross domestic product shrank by 11.3 percent year-on-year in the second quarter of 2020, compared to a preliminary reading of an 11.7 percent plunge. On the other hand, industry (not including construction) saw an economic slump. {"2005":303739255.20, "2006":314977607.64, "2007":325274368.39, "2008":328797743.75, "2009":311940215.09, "2010":324909881.28, "2011":334751033.15, "2012":336803056.98, "2013":338820507.30, "2014":344687022.49, "2015":349802177.91, "2016":357347410.89, "2017":366123863.30, "2018":371439981.79, "2019":373538617.69}, [{"1871":129.62, "1872":138.63, "1873":144.64, "1874":155.37, "1875":156.23, "1876":155.37, "1877":154.51, "1878":161.81, "1879":157.94, "1880":156.66, "1881":160.52, "1882":163.09, "1883":172.11, "1884":176.40, "1885":180.69, "1886":181.98, "1887":189.28, "1888":197.00, "1889":202.58, "1890":209.02, "1891":208.59, "1892":217.17, "1893":227.90, "1894":233.48, "1895":244.64, "1896":253.23, "1897":260.52, "1898":271.68, "1899":281.55, "1900":293.57, "1901":286.70, "1902":293.57, "1903":309.88, "1904":322.33, "1905":329.19, "1906":339.06, "1907":354.09, "1908":360.09, "1909":367.39, "1910":380.70, "1911":393.57, "1912":410.74, "1913":429.20, "1914":365.67, "1915":347.22, "1916":350.65, "1917":351.08, "1918":351.94, "1919":283.18, "1920":307.86, "1921":342.71, "1922":372.87, "1923":309.81, "1924":362.69, "1925":403.43, "1926":414.78, "1927":456.30, "1928":476.28, "1929":474.32, "1930":467.66, "1931":432.02, "1932":399.51, "1933":424.58, "1934":463.35, "1935":498.21, "1936":542.08, "1937":574.68, "1938":619.11, "1939":677.39, "1940":682.29, "1941":725.49, "1942":735.27, "1943":749.94, "1944":768.65, "1945":546.97, "1946":259.29, "1947":291.18, "1948":344.86, "1949":403.60, "1950":479.87, "1951":523.86, "1952":569.28, "1953":616.94, "1954":662.94, "1955":735.88, "1956":788.63, "1957":833.81, "1958":870.93, "1959":934.63, "1960":943.72, "1961":990.91, "1962":1038.10, "1963":1066.41, "1964":1132.47, "1965":1198.53, "1966":1226.84, "1967":1226.84, "1968":1292.90, "1969":1387.27, "1970":1453.34, "1971":1498.86, "1972":1563.32, "1973":1638.01, "1974":1652.59, "1975":1638.26, "1976":1719.35, "1977":1776.90, "1978":1830.35, "1979":1906.32, "1980":1933.18, "1981":1943.41, "1982":1935.73, "1983":1966.17, "1984":2021.68, "1985":2068.74, "1986":2116.06, "1987":2145.73, "1988":2225.28, "1989":2311.98, "1990":2433.48, "1991":2557.79, "1992":2606.69, "1993":2580.57, "1994":2644.35, "1995":2688.70, "1996":2709.96, "1997":2757.04, "1998":2808.37, "1999":2860.92, "2000":2948.40, "2001":2993.05, "2002":2993.35, "2003":2982.11, "2004":3016.74, "2005":3037.39, "2006":3149.78, "2007":3252.74, "2008":3287.98, "2009":3119.40, "2010":3249.10, "2011":3347.51, "2012":3368.03, "2013":3388.21, "2014":3446.87, "2015":3498.02, "2016":3573.47, "2017":3661.24, "2018":3714.40, "2019":3735.39}], {"1971":3.1, "1972":4.3, "1973":4.8, "1974":0.9, "1975":-0.9, "1976":4.9, "1977":3.3, "1978":3.0, "1979":4.2, "1980":1.4, "1981":0.5, "1982":-0.4, "1983":1.6, "1984":2.8, "1985":2.3, "1986":2.3, "1987":1.4, "1988":3.7, "1989":3.9, "1990":5.3, "1991":5.1, "1992":1.9, "1993":-1.0, "1994":2.5, "1995":1.7, "1996":0.8, "1997":1.7, "1998":1.9, "1999":1.9, "2000":3.1, "2001":1.5, "2002":0.0, "2003":-0.4, "2004":1.2, "2005":0.7, "2006":3.7, "2007":3.3, "2008":1.1, "2009":-5.1, "2010":4.2, "2011":3.0, "2012":0.6, "2013":0.6, "2014":1.7, "2015":1.5, "2016":2.2, "2017":2.5, "2018":1.5, "2019":0.6}.