German GDP Rose by Two Percent in 2022

January 2023

According to initial calculations by Germany’s Federal Statistical Office, price-adjusted gross domestic product was up by 1.9 percent last year. The figure is two percent when calendar effects are taken into account.

The growth took place despite considerable global disruptions.

.“In 2022, the overall economic situation in Germany was affected by the consequences of the war in Ukraine and the extremely high energy price increases,” said Ruth Brand, the president of the Federal Statistical Office in a statement. “There also were serious material shortages and delivery bottlenecks, massively rising prices, for example, for food, skilled labor shortages, and the continuing, if receding Covid-19 pandemic. Although these difficult conditions persist, the German economy as a whole managed to perform well.”

By comparison, in the two years before the pandemic, 2018 and 2019, GDP growth was 1 percent and 1.1 percent respectively.

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