Germany GDP Growth Rate

Last Release

Sep 30, 2024

Actual

0.1

Units In

-0.1

Frequency

Quarterly

Next Release

Feb 24, 2025

Time to Release

3 Months 0 Days 6 Hours

Highest	Lowest	Average	Date Range	Source
9 Sep 2020	-10 Jun 2020	0.46 %	1970-2024	Federal Statistical Office

Germany is the fifth largest economy in the world and the largest within the Euro Area. Germany is the second largest exporter in the world and exports account for more than one-third of national output. As such, the export of high added value products has been the main driver of growth in recent years. 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 for 39 percent, adding 7 percent to total GDP.

Latest Updates

The German economy expanded by 0.1% quarter-on-quarter in Q3 2024, revised down from an initial estimate of a 0.2% rise, and slightly rebounding from a 0.3% contraction in the previous period. Household consumption grew by 0.3%, recovering from a 0.5% decline in Q2, while government spending growth slowed to 0.4% from 1.6%. Fixed investments also fell at a softer pace (-0.1% vs. -2.1%), driven by smaller declines in construction (-0.3% vs. -2.2%) and machinery and equipment (-0.2% vs. -3.4%). Meanwhile, net trade contributed negatively to GDP, as imports rose 0.2% (vs. 1.2%) while exports dropped 1.9% (vs. 0.2%). On a yearly basis, the economy fell 0.3%, matching the same pace as in the previous period, and coming more than the initial estimates of a 0.2% drop.