Indicators of economy in 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

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

Imports and Exports 2021

Development of imports and exports in billions of USD 1971 - 2021