Indicators of economy in Germany
The essential economic performance of a country is reflected by the gross domestic product, the total of all goods and services sold. Worldwide gross domestic product in 2021 was at about 12,183 USD per capita. GDP in Germany, on the other hand, reached USD 51,204 per capita, or 4.260 trillion USD for the whole country. Germany is one of the world's largest economies and is currently at rank 4. If this is calculated per inhabitant, taking purchasing power parity into account, then Germany ranks 19th in the list of the richest countries.Inflation in Germany in 2022 was around 6.87%. Within the EU, the average in the same year was 9.22 percent. In the United States, it was most recently 8.00%.
The index for perceived corruption in the public sector is 79, which is above average by global standards.
Back to overview: Germany
Impact of the COVID-19 pandemic
Overall, the gross domestic product in Germany in 2020 increased from 3.888 trillion US dollars to 3.890 trillion US dollars. Certainly, there have been shifts in numerous sectors of the economy, but a 0.037 percent increase has been rather unusual this year. While most countries have suffered significant losses, Germany has certainly held its own. The unemployment rate rose from 3.1 to 3.9 percent. The country's gross debt increased by 15.4 percent. The inflation rate fell from 1.4 percent previously to 0.1 percent by the end of 2020.Income and purchasing power
The average monthly income in Germany is 4,305 US Dollar per capita. In the USA, the figure is 5,911 US Dollar. However, the prices of consumer goods are also around 16.4 percent lower than in the USA. If you compare income and price levels, the result is a more expensive life in Germany than in the United States. The bottom line is that the costs do not offset the lower income, and you get about 12.8 percent less.However, it is also important to remember that this is a purely statistical model. Both the labor output and the type and quality of the goods received always correspond to the national average on both sides of the equation - so they do not necessarily have to match. Here you can also find an international comparison of cost of living and purchasing power.
Unemployment rates in percentages 1991 - 2022
Economic performance 2021
Germany Total | Germany per capita | EU Total | EU per capita | |
---|---|---|---|---|
GDP | 4.260 tn USD | 51,203.55 USD | 17.177 tn USD | 33,384.92 USD |
Gross national product | 4.298 tn USD | 51,665.00 USD | 16.895 tn USD | 32,835.37 USD |
In the Global Innovation Index, Germany ranked 8th in 2022 with 57.2 points. The index is calculated annually by the World Intellectual Property Organization (WIPO) and most recently included 132 countries. The top country was Switzerland with 64.6 points. Out of the 2,000 largest listed companies in the world, 52 originate from Germany. This is determined annually in the Forbes Global 2000 list. The 10 largest companies in the country in 2022 were:
Rank 25: Volkswagen Group (Wolfsburg)
Rank 35: Allianz (Munich)
Rank 41: Mercedes-Benz Group (Stuttgart)
Rank 64: BMW Group (Munich)
Rank 66: Deutsche Telekom (Bonn)
Rank 77: Siemens (Munich)
Rank 133: BASF (Ludwigshafen am Rhein)
Rank 156: Munich Re (Munich)
Rank 164: Deutsche Post (Bonn)
Rank 169: SAP (Walldorf)
Development of gross domestic product in billions of USD 1970 - 2021
Household debt and deficits 2022
Germany Total | Germany per capita | EU Total | EU per capita | |
---|---|---|---|---|
Gross debt | 2.699 tn USD | 32,440.52 USD | 13.976 tn USD | 27,163.16 USD |
Budget deficit | 106.70 bn USD | 1,282.45 USD | 560.78 bn USD | 1,089.90 USD |
› Debt budget development
› Development of inflation
› Corruption in Germany
› Cost of living in a global comparison
› Development of inflation
› Corruption in Germany
› Cost of living in a global comparison
Imports and Exports 2021
Germany Total | Germany per capita | EU Total | EU per capita | |
---|---|---|---|---|
Imports | 1.775 tn USD | 21,329.77 USD | 8.916 tn USD | 17,329.02 USD |
Exports | 2.003 tn USD | 24,081.21 USD | 9.554 tn USD | 18,569.19 USD |
Development of imports and exports in billions of USD 1971 - 2021
Exports
Imports