In 2020, Germany's real gross domestic product fell by around 4.56 percent compared to the previous year.
Keeping it real
Real gross domestic product is, by definition, a measure of the value of economic output adjusted for inflation. While nominal gross domestic product (GDP), often only referred to as gross domestic product, reflects the state of a country’s economy including everything produced by the inhabitants within the country, real GDP is a more precise measurement of economic growth since it takes price change into account.
Germany’s race to the top
Germany’s social market economy is one of the largest worldwide and continues to thrive. One of the strongest industries in Germany is car manufacturing: Several German vehicle manufacturers, like Daimler, Volkswagen, or BMW, are among the major global market players and have brought in billions of euros in revenue in the past years, fueling the economy for years to come.
Germany: Growth rate of the real gross domestic product (GDP) from 2017 to 2027
(compared to the previous year)
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IMF. (April 19, 2022). Germany: Growth rate of the real gross domestic product (GDP) from 2017 to 2027 (compared to the previous year) [Graph]. In Statista. Retrieved May 21, 2022, from https://www.statista.com/statistics/375203/gross-domestic-product-gdp-growth-rate-in-germany/
IMF. "Germany: Growth rate of the real gross domestic product (GDP) from 2017 to 2027 (compared to the previous year)." Chart. April 19, 2022. Statista. Accessed May 21, 2022. https://www.statista.com/statistics/375203/gross-domestic-product-gdp-growth-rate-in-germany/
IMF. (2022). Germany: Growth rate of the real gross domestic product (GDP) from 2017 to 2027 (compared to the previous year). Statista. Statista Inc.. Accessed: May 21, 2022. https://www.statista.com/statistics/375203/gross-domestic-product-gdp-growth-rate-in-germany/
IMF. "Germany: Growth Rate of The Real Gross Domestic Product (Gdp) from 2017 to 2027 (Compared to The Previous Year)." Statista, Statista Inc., 19 Apr 2022, https://www.statista.com/statistics/375203/gross-domestic-product-gdp-growth-rate-in-germany/
IMF, Germany: Growth rate of the real gross domestic product (GDP) from 2017 to 2027 (compared to the previous year) Statista, https://www.statista.com/statistics/375203/gross-domestic-product-gdp-growth-rate-in-germany/ (last visited May 21, 2022)