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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 (2018)
3,386.0 bln EUR  (+0.04%)
Nominal GDP per Capita (2018)
40,800 EUR  (+0.03%)
Real GDP Growth (2018)
1.4 %  (2017: 2.2 %)

According to Eurostat, nominal GDP of Germany in 2018 was 3,386.0 bln EUR.

Germany underperforms the European Union in terms of real GDP growth with the average annual differential coming to -0.3% over the past 10 years (2008 - 2018). In 2018 real GDP growth was 1.4% which was below the Euro Area average (1.9%) and below the European Union average (2.0%). Real GDP growth in 2019 - 2024 are IMF's estimates.

Real GDP Growth in Germany.

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

In 2018, nominal GDP per capita in Germany was 40,800 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 20.0% over the past 10 years (2007 - 2017). GDP per capita at PPP in 2018 - 2024 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 (Apr 2019)
1.0 %  (Mar 2019: 0.5 %)
CPI, YoY (Apr 2019)
2.1 %  (Mar 2019: 1.4 %)
CPI, Year Average (2018)
1.9 %  (2017: 1.7 %)

According to Eurostat, inflation rate in Germany in 2018 expressed as annual percentages of average consumer prices was 1.9% which was above the Euro Area average (1.8%) and equal to the European Union average (1.9%). Inflation rates in 2019 - 2024 are IMF's estimates.

Inflation Rate in Germany.

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

Unemployment Rate

Unemployment Rate (2018)
3.4 %  (2017: 3.8 %)

According to Eurostat, unemployment rate in Germany in 2018 was 3.4% which was below the Euro Area average (8.2%) and below the European Union average (6.8%). Unemployment rates in 2019 - 2024 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 (Mar 2019)
0.01 %  (Feb 2019: 0.06 %)

According to Eurostat, government bond yield in Germany in March 2019 was 0.01%, compared to 0.06% in February 2019.

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.