Name: Germany Full Year GDP Growth
Creator: TRADING ECONOMICS
License: https://creativecommons.org/licenses/by/4.0/

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 February of 2023.

Full Year GDP Growth in Germany is expected to reach 0.20 percent by the end of 2023, according to Trading Economics global macro models and analysts expectations. In the long-term, the Germany Full Year GDP Growth is projected to trend around 1.50 percent in 2024 and 2.10 percent in 2025, according to our econometric models.

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Related	Last	Previous	Unit	Reference
GDP Growth Rate	-0.20	0.50	percent	Dec 2022
GDP Annual Growth Rate	1.10	1.40	percent	Dec 2022
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.