Germany GDP Growth Rate

The Gross Domestic Product (GDP) in Germany expanded 0.80 percent in the first quarter of 2014 over the previous quarter. GDP Growth Rate in Germany averaged 0.30 Percent from 1991 until 2014, 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. GDP Growth Rate in Germany is reported by the Federal Statistical Office.

   
 
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Germany GDP Growth Rate


Actual Previous Highest Lowest Dates Unit Frequency
0.80 0.40 2.10 -3.70 1991 - 2014 Percent Quarterly
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.


Domestic Demand Drives German GDP Growth in Q1


German GDP expanded by a seasonally-adjusted 0.8 percent in the first quarter of 2014, up from 0.4 percent in the last three months of 2013 and in line with flash estimates. It is the fastest growth rate in three years, boosted by investment and consumer spending amid mild weather conditions.

In a quarter-on-quarter comparison, positive contributions were made by domestic demand only. Especially capital formation increased markedly at the beginning of the year. Gross fixed capital formation in machinery and equipment rose 3.3 percent on the previous quarter. Gross fixed capital formation in construction was even up by 3.6 percent. Also, household final consumption expenditure increased by 0.7 percent on the fourth quarter of 2013. General government raised its final consumption expenditure by 0.4 percent.

However, the balance of exports and imports had a downward effect on the gross domestic product growth in the first quarter of 2014. While imports of goods and services were up 2.2 percent, exports were just slightly higher (0.2 percent) than previous quarter's level, and exports of goods even decreased by 0.5 percent. As a result, the balance of exports and imports made a negative contribution to GDP growth (–0.9 percentage points). This was counteracted by the building of inventories, which supported GDP with a calculated contribution to growth of 0.7 percentage points.

In a year-on-year comparison, economic growth accelerated markedly. The GDP in the first quarter of 2014 was up by 2.5 percent, following a 1.3 percent increase in the fourth quarter of 2013.

DESTATIS | Joana Taborda | joana.taborda@tradingeconomics.com
5/23/2014 9:15:59 AM


Recent Releases

German GDP Growth Accelerates in Q1
German economy advanced 0.8 percent in the first three months of 2014 driven by domestic consumption. It is the fastest expansion since the first quarter of 2011, doubling the growth rate of the previous quarter. Published on 2014-05-15

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. Published on 2014-02-25


Calendar GMT Country Event Reference Actual Previous Consensus Forecast
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 0.8% 0.4% 0.73% 0.9%
2014-05-23 07:00 AM Germany
GDP Growth Rate QoQ Final
Q1 2014 0.8% 0.4% 0.8% 0.8%
2014-08-14 07:00 AM Germany
GDP Growth Rate QoQ Flash
Q2 2014 0.8% 0.3%


GDP Last Previous Highest Lowest Unit
GDP 3634.82 3425.95 3634.82 208.90 USD Billion [+]
GDP Growth Rate 0.80 0.40 2.10 -3.70 Percent [+]
GDP Annual Growth Rate 2.50 1.30 5.20 -6.80 Percent [+]
GDP Constant Prices 630.63 625.52 630.63 466.33 EUR Billion [+]
Gross National Product 715.87 712.10 715.87 375.74 EUR Billion [+]
GDP per capita 38291.62 38219.83 38291.62 16932.49 USD [+]
Gross Fixed Capital Formation 112.51 108.99 112.51 89.49 EUR Billion [+]
GDP per capita PPP 34765.90 34572.94 34765.90 20860.68 USD [+]





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