The essential economic performance of a country is reflected by the gross domestic product, the total of all goods and services sold. Worldwide gross domestic product in 2022 was at about 12,703 USD per capita. GDP in Germany, on the other hand, reached USD 48,718 per capita, or 4.082 trillion USD for the whole country. Germany is one of the world's largest economies and is currently at rank 4. If this is calculated per inhabitant, taking purchasing power parity into account, then Germany is in the list of the world's richest countries in place 19.
Inflation in Germany in 2022 was around 6.87%. Within the EU, the average in the same year was 8.83 percent. In the United States, it was most recently 8.00%.
The index for perceived corruption in the public sector is 79, which is above average by global standards.
Impact of the COVID-19 pandemic
Overall, the gross domestic product in Germany in 2020 increased from 3.889 trillion US dollars to 3.890 trillion US dollars. Certainly, there have been shifts in numerous sectors of the economy, but a 0.013 percent increase has been rather unusual this year. While most countries have suffered significant losses, Germany has certainly held its own. The tourism sector alone slumped by around 62 percent. The unemployment rate rose from 3.1 to 3.9 percent. The country's gross debt increased by 13.1 percent. The inflation rate fell from 1.4 percent previously to 0.1 percent by the end of 2020.
Income and purchasing power
The average monthly income in Germany is 4,503 per capita. In the USA, the figure is 6,398 . However, the prices of consumer goods are also around 17.7 percent lower than in the USA. If you compare income and price levels, the result is a more expensive life in Germany than in the United States. The bottom line is that the costs do not offset the lower income, and you get about 14.4 percent less.
However, it is also important to remember that this is a purely statistical model. Both the labor output and the type and quality of the goods received always correspond to the national average on both sides of the equation - so they do not necessarily have to match. Here you can also find an international comparison of cost of living and purchasing power.
The income tax payable in Germany on all income is comparatively low compared to other OECD countries. A married couple with 2 children and normal average income pays on average 9.7% income tax. The total tax burden including social security contributions but excluding employer contributions is 29.0%. The top tax rate is 47.5 percent. Please also read our country comparison of income tax.
Economic performance 2022
| Indicator | Germany Total | Germany per capita | EU Total | EU per capita |
|---|---|---|---|---|
| GDP | 4.082 tn USD | 48,717.99 USD | 16.746 tn USD | 32,558.54 USD |
| Gross national product | 4.528 tn USD | 54,030.43 USD | 17.950 tn USD | 34,898.47 USD |
In the Global Innovation Index, Germany ranked 8th in 2022 with 57.2 points. The index is calculated annually by the World Intellectual Property Organization (WIPO) and most recently included 132 countries. The top country was Switzerland with 64.6 points. Out of the 2,000 largest listed companies in the world, 52 originate from Germany. This is determined annually in the Forbes Global 2000 list. The 10 largest companies in the country in 2022 were:
Rank 25: Volkswagen Group (Wolfsburg)
Rank 35: Allianz (Munich)
Rank 41: Mercedes-Benz Group (Stuttgart)
Rank 64: BMW Group (Munich)
Rank 66: Deutsche Telekom (Bonn)
Rank 77: Siemens (Munich)
Rank 133: BASF (Ludwigshafen am Rhein)
Rank 156: Munich Re (Munich)
Rank 164: Deutsche Post (Bonn)
Rank 169: SAP (Walldorf)
Development of gross domestic product in billions of USD 1970 - 2022
Largest industries
- Automotive
- Mechanical engineering
- Chemicals
- Electrical and batteries
- Metals
- Finance and banking
- Telecommunications
- Healthcare
- Retail
Imports and Exports 2022
| Indicator | Germany Total | Germany per capita | EU Total | EU per capita |
|---|---|---|---|---|
| Imports | 1.973 tn USD | 23,542.98 USD | 9.107 tn USD | 17,706.27 USD |
| Exports | 2.060 tn USD | 24,587.81 USD | 9.446 tn USD | 18,365.45 USD |
Development of imports and exports in billions of USD 2015 - 2022
Exports
Imports
Household debt and deficits 2022
| Indicator | Germany Total | Germany per capita | EU Total | EU per capita |
|---|---|---|---|---|
| Government debts | 2.716 tn USD | 32,414.66 USD | 11.142 tn USD | 21,662.92 USD |
| Budget deficit | 106.70 bn USD | 1,273.24 USD | 560.78 bn USD | 1,090.29 USD |
› Debt budget development
› Development of inflation
› Corruption in Germany
› Cost of living in a global comparison
Unemployment rates in percentages 1991 - 2022
The unemployment rates according to the ILOSTAT estimates used here do not always correspond to the official government figures. Instead, they are based on a harmonized procedure to compensate for different unemployment criteria and make them comparable across countries. Further information and an international comparison can be found here.
Largest airports and airlines in GermanyThe 30 biggest airports in Germany and 8 airlines with further information and data
Comparison of income tax by countryThis is how much income tax and social security contributions you pay in these 39 countries
List of the 13 current Pariah States13 countries, that suffer from the sanctions of the international community because of their mostly autocratic government.
