In 2022, the German economy had to overcome several challenges. The Ukraine war and the energy crisis were way out in front. Despite all this, the economy in Germany grew last year. According to calculations by the Federal Statistical Office (Destatis), price-adjusted gross domestic product (GDP) in 2022 was 1.9 percent higher than in the previous year. Adjusted for calendar effects, economic growth was 2.0 percent.
"The overall economic situation in Germany in 2022 was characterized by the consequences of the war in Ukraine, such as extreme energy price increases," said Dr. Ruth Brand, President of the Federal Statistical Office. "Added to this were exacerbated material and supply bottlenecks, massively rising prices for food, for example, as well as the shortage of skilled workers and the ongoing Corona pandemic, although it eased over the course of the year. Despite these still difficult conditions, the German economy held up well overall in 2022."
Compared to the pre-Corona pandemic period of 2019, GDP was 0.7 percent higher in 2022.