Gross domestic product (GDP) in Germany grew by 1.9% in 2022 year-on-year, despite the energy crisis and the war in Ukraine weighing on activity, according to official data released Friday.
Compared to 2019, the year before the start of the coronavirus pandemic, GDP in 2022 was 0.7% higher, the Federal Statistical Office, Destatis, reported in a statement.
“The overall economic situation in Germany in 2022 was characterized by the consequences of the war in Ukraine such as extreme increases in energy prices,” said Dr. Ruth Brand, president of the Federal Office, quoted in the release.
“In addition, there were aggravated material and delivery bottlenecks, a massive increase in food prices as well as a shortage of skilled workers and the ongoing coronavirus pandemic. Despite these still difficult conditions, the German economy was able to hold up well overall in 2022,” she emphasized.
In fact, price-adjusted gross value added in 2022 will have risen by a total of 1.8 percent compared with 2021. Developments in the various economic sectors were very different. Some service sectors benefited from catch-up effects after the removal of almost all protective measures against the pandemic.
Other service providers, which also include the creative and entertainment sectors (+6.3%), recorded particularly strong growth, the Federal Office reports.
In the construction sector, which had weathered the Covid crisis relatively well, a shortage of materials and skilled workers, high construction costs and increasingly poor financing conditions led to a significant decline in gross value added (-2.3%).
Thus, high energy prices and the still limited availability of commodities also slowed down economic output in the manufacturing sector, which hardly increased compared to the previous year (+0.2%), Destatis adds.
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