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Economy and Banking Sector of Germany

National Currency

Euro (EUR)

Germany joined the Euro Area on 1 January 1999.

GDP

Nominal GDP (2017)
3 263.4 bln EUR  (+0.04%)
Nominal GDP per Capita (2017)
39 500 EUR  (+0.04%)
Real GDP Growth (2017)
2.2 %  (2016: 1.9 %)

According to Eurostat, nominal GDP of Germany in 2017 was 3 263.4 bln EUR.

Germany underperforms the European Union in terms of real GDP growth with the average annual differential coming to -0.2% over the past 10 years (2007 - 2017). In 2017 real GDP growth was 2.2% which was below the Euro Area average (2.3%) and below the European Union average (2.4%). Real GDP growth in 2018 - 2023 are IMF's estimates.

Real GDP Growth in Germany.

Chart 1. Real GDP Growth in Germany. Source: Eurostat, International Monetary Fund.

In 2017, nominal GDP per capita in Germany was 39 500 EUR.

Germany has an above-average level of wealth in terms of per-capita GDP at purchasing power parity (PPP); this economic welfare indicator has, on average, exceeded that of the European Union by 20.7% over the past 10 years (2006 - 2016). GDP per capita at PPP in 2017 - 2023 are IMF's estimates.

GDP Per Capita at Purchasing Power Parity in  Germany; European Union = 100.

Chart 2. GDP Per Capita at Purchasing Power Parity in Germany; European Union = 100.

Inflation Rate

CPI, MoM (Feb 2018)
0.5 %  (Jan 2018: -1.0 %)
CPI, YoY (Feb 2018)
1.2 %  (Jan 2018: 1.4 %)
CPI, Year Average (2017)
1.7 %  (2016: 0.4 %)

According to Eurostat, inflation rate in Germany in 2017 expressed as annual percentages of average consumer prices was 1.7% which was above the Euro Area average (1.5%) and equal to the European Union average (1.7%). Inflation rates in 2018 - 2023 are IMF's estimates.

Inflation Rate in Germany.

Chart 3. Inflation Rate in Germany. Source: Eurostat, International Monetary Fund.

Unemployment Rate

Unemployment Rate (2017)
3.8 %  (2016: 4.1 %)

According to Eurostat, unemployment rate in Germany in 2017 was 3.8% which was below the Euro Area average (9.1%) and below the European Union average (7.6%). Unemployment rates in 2018 - 2023 are IMF's estimates.

Unemployment Rate in Germany.

Chart 4. Unemployment Rate in Germany. Source: Eurostat, International Monetary Fund.

Government Bond Yield

Government Bond Yield (Feb 2018)
0.66 %  (Jan 2018: 0.47 %)

According to Eurostat, government bond yield in Germany in February 2018 was 0.66%, compared to 0.47% in January 2018.

Government bond yield of Germany.

Chart 5. Government bond yield of Germany. Source: Eurostat.

Credit Ratings (as of May 2018)

Fitch
AAA (highest credit quality), outlook stable
Moody's
Aaa (prime), outlook stable

Germany has sovereign credit ratings assigned by Fitch and Moody's: the rating set by Fitch is AAA (highest credit quality), outlook stable; the rating set by Moody's is Aaa (prime), outlook stable.