Germany GDP Growth Rate  1991-2016 | Data | Chart | Calendar | Forecast

The German economy grew a seasonally-adjusted 0.7 percent in the first quarter of 2016, accelerating from a 0.3 percent expansion in the preceding quarter and matching preliminary estimates. It is the strongest expansion since the first quarter of 2016, driven by household spending and a faster increase in investment while foreign trade had a slight downward effect on growth. Year-on-year, the GDP expanded by 1.3 percent, slowing from a 2.1 percent expansion in the previous quarter. It is the weakest growth since the March quarter 2015. GDP Growth Rate in Germany averaged 0.32 percent from 1991 until 2016, reaching an all time high of 2 percent in the second quarter of 2010 and a record low of -4.50 percent in the first quarter of 2009. GDP Growth Rate in Germany is reported by the Federal Statistical Office.

Germany GDP Growth Rate
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Actual Previous Highest Lowest Dates Unit Frequency
0.70 0.30 2.00 -4.50 1991 - 2016 percent Quarterly
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. This page provides the latest reported value for - Germany GDP Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Germany GDP Growth Rate - actual data, historical chart and calendar of releases - was last updated on May of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-02-23 07:00 AM Q4 0.3% 0.3% 0.3% 0.3%
2016-05-13 06:00 AM Q1 0.7% 0.3% 0.6% 0.5%
2016-05-24 06:00 AM Q1 0.7% 0.3% 0.7% 0.7%
2016-08-12 06:00 AM Q2 0.7% 0.4%
2016-08-24 06:00 AM Q2 0.7%
2016-11-15 07:00 AM Q3 0.5%

German GDP Growth Confirmed at 0.7% in Q1


The German economy grew a seasonally-adjusted 0.7 percent in the first quarter of 2016, accelerating from a 0.3 percent expansion in the preceding quarter and matching preliminary estimates. It is the strongest expansion since the first quarter of 2016, driven by household spending and a faster increase in investment while foreign trade had a downward effect on growth.

Quarter-on-quarter, private consumption rose 0.4 percent, the same pace as in the December quarter 2015. Public consumption advanced by 0.5 percent, slowing from a 0.9 percent growth in the previous three months. Overall consumption contributed 0.3 percentage points to growth. Gross fixed capital formation expanded by 1.8 percent, up from a 1.4  percent increase in the previous quarter. Investment in construction grew the most by 2.3 percent (after contracting 2.0 percent in the fourth quarter), followed by machinery and equipment investment (+1.9 percent from +1.0 percent) and investment in other products (+0.2 percent from +0.7 percent). Exports increased by 1.0 percent, reversing from a 0.6 percent contraction in the December quarter. Imports rose 1.4 percent, as compared to a 0.5 percent rise in the previous three months. That brought a downward effect of the GDP (-0.1 percentage points). Inventories were up, adding 0.1 percentage points to growth.

Year-on-year, the GDP expanded by 1.3 percent, slowing from a 2.1 percent expansion in the previous quarter.  It is the weakest growth since the March quarter 2015. Household final consumption rose by 18 percent, down slightly from a 1.9 percent growth in the previous quarter. Government consumption expanded by 2.7 percent, slowing from a 3.0 percent growth in the December quarter. Gross fixed capital formation also grew 2.1 percent (after a 4.1 percent expansion in the preceding quarter). Machinery and equipment investment grew the most by 2.4 percent, followed by other products (+2.2 percent) and construction (+1.9 percent). Overall investment added 0.4 percent to growth. In contrast, the reduction in inventories slowed down the GDP growth by 0.1 percentage points. The balance of exports and imports slashed 0.5 percentage points to the year-on-year GDP growth. 

Destatis l Rida Husna | rida@tradingeconomics.com
5/24/2016 7:37:55 AM

Germany GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.70 0.30 2.00 -4.50 percent [+]
GDP Annual Growth Rate 1.30 2.10 6.00 -7.90 percent [+]
GDP 3868.29 3745.32 3868.29 215.02 USD Billion [+]
GDP Constant Prices 702.68 698.04 702.68 507.63 EUR Billion [+]
Gross National Product 785.79 777.36 785.79 389.37 EUR Billion [+]
Gross Fixed Capital Formation 143.12 140.70 143.12 107.52 EUR Billion [+]
GDP per capita 39717.70 39208.76 39717.70 17463.91 USD [+]
GDP per capita PPP 43443.70 42887.02 43443.70 31476.12 USD [+]
GDP From Agriculture 3.61 3.77 6.42 3.20 EUR Billion [+]
GDP From Construction 27.02 36.92 36.92 14.47 EUR Billion [+]
GDP From Manufacturing 152.32 153.75 156.71 90.56 EUR Billion [+]
GDP From Public Administration 128.30 130.06 130.06 50.63 EUR Billion [+]
GDP From Services 101.16 108.42 108.78 53.73 EUR Billion [+]




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