Germany - Economy
How is the economy of Germany? Based on the information we have, Germany has a leading diversified, export-driven, core EU and eurozone economy; key automotive, chemical, engineering, finance, and green energy industries; growth stalled by energy crisis; tight labor market with falling working-age population; fiscal rebalancing with phaseout of energy price supports. Key agricultural products in this country include: milk, sugar beets, wheat, barley, potatoes, pork, rapeseed, maize, rye, triticale (2022).
More about the economy of Germany
| Labor force | 44.198 million (2022 est.) |
|---|---|
| Industrial production growth rate | -0.92% (2022 est.) |
| Industries | iron, steel, coal, cement, chemicals, machinery, vehicles, machine tools, electronics, automobiles, food and beverages, shipbuilding, textiles |
| Population below poverty line | 14.7% (2021 est.) |
| Taxes and other revenues | 11.18% (of GDP) (2021 est.) |
| Fiscal year | |
| Exchange rates | |
| Currency | euros (EUR) per US dollar - |
| Exchange rates 2022 | 0.95 (2022 est.) |
| Exchange rates 2021 | 0.845 (2021 est.) |
| Exchange rates 2020 | 0.876 (2020 est.) |
| Exchange rates 2019 | 0.893 (2019 est.) |
| Exchange rates 2018 | 0.847 (2018 est.) |
| Debt - external | |
| Debt - external 2019 | $5,671,463,000,000 (2019 est.) |
| Debt - external 2018 | $5,751,408,000,000 (2018 est.) |
| Reserves of foreign exchange and gold | |
| Reserves of foreign exchange and gold 2022 | $293.914 billion (2022 est.) |
| Reserves of foreign exchange and gold 2021 | $295.736 billion (2021 est.) |
| Reserves of foreign exchange and gold 2020 | $268.409 billion (2020 est.) |
| Current account balance | |
| Current account balance 2022 | $172.459 billion (2022 est.) |
| Current account balance 2021 | $329.969 billion (2021 est.) |
| Current account balance 2020 | $275.87 billion (2020 est.) |
| Public debt | |
| Public debt 2017 | 63.9% of GDP (2017 est.) |
| Public debt 2016 | 67.9% of GDP (2016 est.) |
| Budget | |
| Revenues | $1.785 trillion (2020 est.) |
| Expenditures | $1.945 trillion (2020 est.) |
| Budget surplus (+) or deficit (-) | 1.3% (of GDP) (2017 est.) |
| Remittances | |
| Remittances 2022 | 0.47% of GDP (2022 est.) |
| Remittances 2021 | 0.49% of GDP (2021 est.) |
| Remittances 2020 | 0.5% of GDP (2020 est.) |
| Household income | |
| Lowest 10% | 3.1% |
| Highest 10% | 25.2% (2019 est.) |
| Average household expenditures | |
| On food | 12% of household expenditures (2021 est.) |
| On alcohol and tobacco | 3.5% of household expenditures (2021 est.) |
| Imports | |
| Imports 2022 | $1.973 trillion (2022 est.) |
| Imports 2021 | $1.785 trillion (2021 est.) |
| Imports 2020 | $1.464 trillion (2020 est.) |
| Imports (partners) | China 10%, Netherlands 9%, Poland 6%, Belgium 6%, Italy 5% (2022) |
| Comodities Imports force | natural gas, cars, garments, vehicle parts/accessories, crude petroleum (2022) |
| Exports | |
| Imports 2022 | $1.973 trillion (2022 est.) |
| Imports 2021 | $1.785 trillion (2021 est.) |
| Imports 2020 | $1.464 trillion (2020 est.) |
| Exports (partners) | US 10%, France 7%, China 7%, Netherlands 7%, Italy 6% (2022) |
| Comodities Exports force | cars, packaged medicine, vehicle parts/accessories, vaccines, plastic products (2022) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2022 | $4.523 trillion (2022 est.) |
| Real GDP (purchasing power parity) 2021 | $4.442 trillion (2021 est.) |
| Real GDP (purchasing power parity) 2020 | $4.306 trillion (2020 est.) |
| GDP (official exchange rate) | $4.082 trillion (2022 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2022 | $54,000 (2022 est.) |
| Real GDP per capita 2021 | $53,400 (2021 est.) |
| Real GDP per capita 2020 | $51,800 (2020 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | 0.7% (2017 est.) |
| Industry | 30.7% (2017 est.) |
| Services | 68.6% (2017 est.) |
| GDP - composition, by end use | |
| Household consumption | 53.1% (2017 est.) |
| Government consumption | 19.5% (2017 est.) |
| Investment in fixed capital | 20.4% (2017 est.) |
| Investment in inventories | -0.5% (2017 est.) |
| Exports of goods and services | 47.3% (2017 est.) |
| Imports of goods and services | -39.7% (2017 est.) |
| Unemployment rate | |
| Unemployment rate 2022 | 3.14% (2022 est.) |
| Unemployment rate 2021 | 3.64% (2021 est.) |
| Unemployment rate 2020 | 3.86% (2020 est.) |
| Youth unemployment rate (ages 15-24) | |
| Total | 7% (2021 est.) |
| Male | 7.2% |
| Female | 6.6% |
All Important Facts about Germany
Want to know more about Germany? Check all different factbooks for Germany below.
