Germany GDP Growth Rate

The Gross Domestic Product (GDP) in Germany expanded 0.40 percent in the fourth quarter of 2013 over the previous quarter. GDP Growth Rate in Germany is reported by the Federal Statistical Office. GDP Growth Rate in Germany averaged 0.29 Percent from 1991 until 2013, reaching an all time high of 2.10 Percent in the second quarter of 2010 and a record low of -3.70 Percent in the first quarter of 2009. Germany is the fourth largest economy in the world and the largest within the Euro Area. The German economy is heavily export-oriented. 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. The German economy benefits from qualified labour force, developed infrastructure and large capital stock. This page provides - Germany GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-24

Actual Previous Highest Lowest Forecast Dates Unit Frequency
0.40 0.30 2.10 -3.70 0.50 | 2014/03 1991 - 2013 Percent Quarterly

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Germany GDP Growth Rate
LIST BY COUNTRY


CALENDAR GMT Country Event Reference Actual Previous Consensus Forecast
2013-11-22 07:00 AM Germany
GDP Growth Rate QoQ - Breakdown
Q3 2013 0.3% 0.7% 0.3% 0.21%
2014-01-15 08:00 AM Germany
GDP Growth Rate
2013 0.4% 0.7% 0.5% 0.85%
2014-02-14 07:00 AM Germany
GDP Growth Rate QoQ Flash
Q4 2013 0.4% 0.3% 0.3% 0.3%
2014-02-25 07:00 AM Germany
GDP Growth Rate QoQ - Final
Q4 2013 0.4% 0.3% 0.4% 0.4%
2014-05-15 07:00 AM Germany
GDP Growth Rate QoQ Flash
Q1 2014 0.4% 0.5%
2014-08-14 07:00 AM Germany
GDP Growth Rate QoQ Flash
Q2 2014 0.62%
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GDP Last Previous Highest Lowest Forecast Unit
GDP per capita 37479.11 2012-12-31 37271.09 37479.11 16932.49 38187.01 2014-06-30 USD [+]
GDP per capita PPP 34765.90 2012-12-31 34572.94 34765.90 20860.68 35422.54 2014-06-30 USD [+]
GDP Constant Prices 625.52 2013-11-15 623.12 625.52 466.33 628.98 2014-06-30 EUR Billion [+]
Gross Fixed Capital Formation 109.72 2013-11-15 108.22 112.44 89.49 110.09 2014-03-31 EUR Billion [+]
Gross National Product 710.52 2013-11-15 705.36 710.52 375.74 720.21 2014-03-31 EUR Billion [+]
GDP Growth Rate 0.40 2013-12-31 0.30 2.10 -3.70 0.50 2014-03-31 Percent [+]
GDP Annual Growth Rate 1.30 2013-12-31 1.10 5.20 -6.80 0.91 2014-03-31 Percent [+]
GDP 3399.60 2012-12-31 3600.80 3623.70 208.90 3255.18 2014-06-30 USD Billion [+]
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Exports Drive German GDP Growth in Q4

In the last quarter of 2013, the German GDP expanded by 0.4 percent on a quarter-on-quarter basis, confirming an earlier estimate and boosted by foreign trade, while domestic demand remained weak.

Quarter-on-quarter (upon price, seasonal and calendar adjustment), positive contributions were made mainly by foreign trade. According to provisional calculations, exports increased more considerably than imports. Compared with the third quarter of 2013, exports of goods and services were up 2.6 percent. 

Imports increased by not more than 0.6 percent in the same period. Consequently, the balance of exports and imports contributed 1.1 percentage points to GDP growth and was thus the key economic engine in the period under review.

As regards domestic demand, different developments were reported. Gross fixed capital formation both in machinery and equipment and in construction rose markedly compared with the third quarter of 2013 (+1.4 percent each). However, inventories declined considerably, which slowed down economic growth (–0.8 percentage points). Final consumption expenditure changed only marginally. While government final consumption expenditure remained unchanged at the level of the previous quarter, household final consumption expenditure was slightly lower (–0.1 percent).

Compared with a year earlier, economic growth accelerated in the course of 2013. The price-adjusted GDP rose 1.3 percent in the fourth quarter of 2013.

DESTATIS | Joana Taborda | joana.taborda@tradingeconomics.com
2/25/2014 9:14:29 AM

RECENT RELEASES

German GDP Beats Expectations in Q4 2013
German economic growth accelerated to 0.4 percent in the fourth quarter of 2013 up from 0.3 percent in the previous three-month period, supported by a rise in exports and capital investment. Published on 2014-02-14

German GDP Growth Confirmed at 0.3% in Q3
In the third quarter of 2013, German economy expanded a seasonally adjusted 0.3 percent compared with the previous quarter. The growth was mainly driven by domestic demand. Published on 2013-11-22


GDP Growth Rate | Notes
The GDP Growth Rate shows a percentage change in the seasonally adjusted GDP value in the certain quarter, compared to the previous quarter. Because of climatic conditions and holidays, the intensity of the production varies throughout the year. This makes a direct comparison of two consecutive quarters difficult. In order to adjust for these conditions, many countries calculate the quarterly GDP using so called seasonally adjusted method. The Gross Domestic Product can be determined using three different approaches: the product, the income, and the expenditure technique, which should give the same result. In sum, the product technique sums the outputs of every class of enterprise. The expenditure technique works on the principle that every product must be bought by somebody, therefore the value of the total product must be equal to people's total expenditures in buying products and services. The income technique works on the principle that the incomes of the productive factors must be equal to the value of their product, and determines GDP by finding the sum of all producers' incomes.


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