Germany's economy grew by just 0.6 percent in 2019, the weakest annual expansion since 2013 and well below 1.5 percent in 2018, a preliminary estimate showed. There was a negative contribution from net external demand, as exports rose 0.9 percent (vs 2.1 percent in 2018) and imports increased 1.9 percent (vs 3.6 percent in 2018). Also, changes in inventories subtracted 0.9 percentage points to the GDP growth. Meanwhile, private consumption advanced 1.6 percent (vs 1.3 percent in 2018) and government spending expanded 2.5 percent (vs 1.4 percent in 2018). Fixed investment went up 2.5 percent (vs 3.5 percent in 2018), as construction spending grew sharply (3.8 percent vs 2.5 percent) while investment in equipment, such as machinery, equipment and vehicles, increased at a softer rate (0.4 percent vs 4.4 percent). On the production side, services and construction sectors grew firmly while manufacturing output plummeted 3.6 percent (vs 1.5 percent in 2018). GDP Annual Growth Rate in Germany averaged 1.99 percent from 1971 until 2019, reaching an all time high of 7.20 percent in the first quarter of 1973 and a record low of -6.90 percent in the first quarter of 2009. source: Federal Statistical Office

GDP Annual Growth Rate in Germany is expected to be 0.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Germany to stand at 0.70 in 12 months time. In the long-term, the Germany GDP Annual Growth Rate is projected to trend around 1.10 percent in 2020, according to our econometric models.


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Germany GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
0.50 0.30 7.20 -6.90 1971 - 2019 percent Quarterly
WDA



Calendar GMT Actual Previous Consensus TEForecast
2019-08-27 06:00 AM GDP Growth Rate YoY Final Q2 0.4% 0.9% 0.4% 0.4%
2019-11-14 07:00 AM GDP Growth Rate YoY Flash Q3 0.5% 0.3% 0.5% 0.4%
2019-11-22 07:00 AM GDP Growth Rate YoY Final Q3 0.5% 0.3% 0.5% 0.5%
2020-01-15 09:00 AM Full Year GDP Growth 2019 0.6% 1.5% 0.6% 0.5%
2020-02-14 07:00 AM GDP Growth Rate YoY Flash Q4 0.5% 0.3%


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.

Germany GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.10 -0.20 4.00 -4.70 percent [+]
GDP Annual Growth Rate 0.50 0.30 7.20 -6.90 percent [+]
GDP 3996.76 3693.20 3996.76 215.02 USD Billion [+]
GDP Constant Prices 810.77 810.09 812.06 552.61 EUR Billion [+]
Gross National Product 886.27 879.36 886.27 390.99 EUR Billion [+]
Gross Fixed Capital Formation 171.47 171.64 172.08 119.05 EUR Billion [+]
GDP per capita 47501.80 46987.80 47501.80 19624.70 USD [+]
GDP per capita PPP 45959.40 45462.00 45959.40 31287.10 USD [+]
GDP From Agriculture 7.11 7.13 7.43 3.62 EUR Billion [+]
GDP From Construction 45.66 42.04 45.66 14.52 EUR Billion [+]
GDP From Manufacturing 166.62 167.41 174.50 90.00 EUR Billion [+]
GDP From Public Administration 143.01 139.68 147.21 51.97 EUR Billion [+]
GDP From Services 127.41 127.46 127.46 53.44 EUR Billion [+]