CIC to GDP in Germany 2001-2022

The size of Germany's money market was relatively stable recently, reaching roughly 10 percent of the country's GDP in 2022. This so-called CIC/GDP ratio roughly measures the use of cash in the country. Due to the anonymity of cash transactions, sources struggle to find exact volumes on this. The ratio mentioned here is quite popular in that regard, as the data it needs is relatively easy to find. Some industry experts mention, however, that this ratio is too general and does not necessarily reflect retail payments.

Share of currency in circulation (CIC) to the nominal GDP of Germany from 2001 to 2022

Characteristic	CIC/GDP ratio
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Release date

March 2024

More information

Region

Germany

Survey time period

2001 to 2022

Special properties

The source only reports cash in circulation for EU-27 countries as "Euro Area-Wide-Residency"

Supplementary notes

The numbers provided have been calculated from two sources:

Currency in circulation in national currency from the IMF;
Nominal GDP in current prices and national currency from the World Bank.

The CIC to GDP ratio roughly reflects the overall use of cash in a country. Note, however, that this is quite general (as it looks at the overall market for cash) and does not exclusively look at the component of consumers.

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