On the other hand, industry (not including construction) saw an economic slump. Particularly strong increases were recorded for civil engineering and housing construction. The detailed results for the fourth quarter of 2019 will still be released in accordance with previous practice, that is, after about 45 days after the end of the quarter. The German economy thus has grown for the tenth year in a row. It amounted to 49.8 billion euros, which was not quite as much as the record surplus of 62.4 billion euros in 2018. Please log in to access our additional functions, *Duration: 12 months, billed annually, single license, The ideal entry-level account for individual users. Economic performance up in the service sector, but markedly down in industry. Learn more about how Statista can support your business. Gross fixed capital formation in other fixed assets (+2.7%), which include research and development, was also much higher than a year earlier. Gustav-Stresemann-Ring 11 However, growth lost momentum in 2019. Stocks in Europe Pare Losses to Close Mixed, Germany Wholesale Prices Decline for 9th Month, German Consumer Prices Fall for 2nd Month, German Investor Morale Weaker than Forecast, Germany Current Account Surplus Edges Up in September, Germany Industrial Output Rises for 5th Month, Germany Construction Sector Shrinks the Most since June, German Factory Orders Slow on Falling EA Demand, German Private Sector Activity Rises for 4th Month: PMI, New Zealand Producer Input Prices Rebound in Q3, API: US Crude Oil Inventories Rise More Than Expected, US Records International Capital Outflows in September. Please authenticate by going to "My account" → "Administration". Statistisches Bundesamt. Detailed results will be released on 25 February 2020. 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. At the end of 2019, the replacement value of fixed assets a vailable for production in the national economy amounted to Euro 20.8 trillion.. ", Statistisches Bundesamt, Germany: Gross domestic product (GDP) from 2009 to 2019 (in billion euros) Statista, https://www.statista.com/statistics/295444/germany-gross-domestic-product/ (last visited November 18, 2020), Germany: Gross domestic product (GDP) from 2009 to 2019, Median age of the population in Germany 1950-2050, GDP per capita in current prices of Germany 2024, Germany: Share in global GDP adjusted for PPP 2024, Share of economic sectors in gross domestic product in Germany 2019, Annual average unemployment figures for Germany 2004-2020, Employment by economic sector in Germany 2010-2020, National debt of Germany in relation to gross domestic product (GDP) 2024, Ratio of military expenditure to gross domestic product (GDP) in Germany 2019, Ratio of government expenditure to gross domestic product (GDP) in Germany 2024, Germany's budget balance in relation to GDP 2021, Total population of the DACH countries from 2008 to 2018, Life expectancy at birth in the DACH countries 2018, Gross domestic product of the DACH countries from 2010 to 2020, Gross domestic product (GDP) per capita in the DACH countries 2018, Inflation rate in the DACH countries 2020, Trade balance of goods in the DACH countries 2019, Countries with the largest gross domestic product at purchasing power parity 2017, Countries with the largest proportion of global gross domestic product (GDP) 2019, Unemployment rates in major industrial and emerging countries 2017, The 20 countries with the highest trade surplus in 2019, National debt of selected countries in relation to gross domestic product (GDP) 2018, Cumulative cases of COVID-19 worldwide from January 8 to November 15, 2020, by day, Germany: real economy debt change from 2007 to 2014, Assessment of possible economic damage in Germany due to Brexit as of 2017, Germany: sources of non-bank loans in 2014, Number of German residents Japan 2000-2018, Germany: export value of chemical materials and products from the UK 2012-2018, Connected cars: awareness and usage in Germany 2013, Social media use in Germany in 2015, by number of children in household, Internet user penetration in Germany in January 2015, by age group, Online customer satisfaction with the post-purchase experience in Germany in 2015, European patent applications from Germany 2005-2019, Perceived contribution of German immigrants to life in Great Britain (UK) in 2014, Internet usage via desktop or mobile computer in Germany 2003-2014, Germany: monthly consumer price index for communications in 2018, Annual average unemployment rate in Germany 2004-2020, Base metal clasps with locks: sales value in the United Kingdom (UK) 2008-2016, IT-consulting & implementation services market size in Norway 2016-2021, Manufacture of other products of wood revenue in Luxembourg 2010-2022, Wholesale trade: industrial products turnover in Portugal 2017, by sector products, Germany: Gross domestic product (GDP) from 2009 to 2019 (in billion euros), Find your information in our database containing over 20,000 reports, Tools and Tutorials explained in our Media Centre, largest gross domestic product per capita. On the production side of the GDP, there were two different economic trends in 2019. In price-adjusted terms, German exports of goods and services were up 0.9% on 2018. Update, Insights into the world's most important technology markets, Advertising & Media Outlook The highest growth rate was recorded by the construction industry (+4.0%). Gross fixed capital formation increased substantially, too. 1971 - 2019 GDP (constant 2010 US$) GDP (current US$) GDP (constant LCU) GDP: linked series (current LCU) GDP, PPP (constant 2017 … License: CC BY-4.0 Line Bar Map. New, Everything you need to know about the industry development, Find studies from all around the internet. Detailed documents relating to the press conference are available here (only in german). To compare GDP between countries, you must use purchasing power parity. In the previous two years, the price-adjusted GDP grew much more strongly (by 2.5% in 2017 and by 1.5% in 2018). +49 (0) 611/75 26 26, Statistisches Bundesamt 1970-2019 Data | 2020-2022 Forecast | Historical | Chart | News. Chart. Profit from additional features by authenticating your Admin account. According to first calculations, 45.3 million people were in employment, that is roughly 400,000 more than in 2018. Germany's economy is expected to produce $4.2 trillion in 2019 as measured by nominal gross domestic product. Measured as a percentage of nominal GDP, this was a 1.5% surplus ratio of general government for 2019. 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. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds. General government achieved marked surplus again. This has been the longest period of growth in united Germany. 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). (February 25, 2019). Reasons for the marked reduction of inventories are low industrial output and higher exports. Compared with the average of the last ten years (+1.3%), the German economic growth in 2019 was lower. Visualised updated results are also provided in our interactive national accounts dashboard (available only in German). Accessed November 18, 2020. https://www.statista.com/statistics/295444/germany-gross-domestic-product/, Statistisches Bundesamt. The increase in price-adjusted imports (+1.9%) was larger. The Trading Economics Application Programming Interface (API) provides direct access to our data. Statista. 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). 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. 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).