Germany GDP Growth Rate

Last Release

Dec 31, 2024

Actual

-0.2

Units In

0.1

Frequency

Quarterly

Next Release

May 23, 2025

Time to Release

2 Months 24 Days 5 Hours

Highest	Lowest	Average	Date Range	Source
9 Sep 2020	-10 Jun 2020	0.45 %	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 shrank by 0.2% quarter-on-quarter in the three months to December 2024, confirming preliminary estimates and following a 0.1% expansion in the previous period. The downturn was primarily driven by a negative contribution from net trade, as exports plunged 2.2% (vs. -1.9% in Q3), while imports increased 0.5% (vs. 0.6%). Additionally, household consumption growth slowed to 0.1% (vs. 0.2%), and government spending rose 0.4%, down sharply from 1.5% in Q3. Meanwhile, fixed investments rebounded (0.4% vs. -0.5%), mainly due to a recovery in construction investment. On the production side, most industries declined, with notable contractions in agriculture, forestry, and fishing (-1%), as well as manufacturing (-0.6%). On a yearly basis, the economy contracted 0.2%, confirming initial estimates and marking the sixth consecutive quarter of decline.