Germany's GDP fell by 0.2% in 2024, following a 0.3% contraction in 2023, in line with market expectations. Manufacturing saw a significant drop in output (-3%), with key sectors like machinery and automotive experiencing declines. The construction industry also struggled, with a 3.8% decrease in gross value added due to high construction prices and interest rates, though civil engineering grew. The service sector grew by 0.8%, but performance varied: trade, transport, and accommodation stagnated, while information and communication rose by 2.5%. Business services remained flat. Gross fixed capital formation dropped by 2.8%, especially in construction and machinery. Household consumption increased slightly (0.3%), with spending on health and transport rising. Government consumption grew by 2.6%, driven by higher social benefits. Foreign trade struggled, with exports down 0.8% and imports up slightly by 0.2%. source: Federal Statistical Office
Full Year GDP Growth in Germany decreased by 0.20 percent in 2024 from -0.30 percent in 2023. Full Year GDP Growth in Germany averaged 1.23 percent from 1992 until 2024, reaching an all time high of 4.10 percent in 2010 and a record low of -5.50 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 January of 2025.
Full Year GDP Growth in Germany decreased by 0.20 percent in 2024 from -0.30 percent in 2023. Full Year GDP Growth in Germany is expected to reach 1.10 percent by the end of 2025, 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 2026, according to our econometric models.