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Subject Dossier
Economic Outlook
GERMANY
EURO-AREA
WORLD
Key Indicators | GERMANY
GDP, consumer prices, labor productivity: percentage change on previous year; unemployment rate: as defined by the Federal Employment Agency.
Sources: Federal Statistical Office, Fachserie 18, Series 1.2; Federal Employment Agency, Monthly Bulletin; Federal Employment Agency, Employment Statistics
Shaded: Kiel Institute forecast
| 2019 | 2020 | 2021 | 2022 | |
| Gross domestic product (GDP), price-adjusted | 0.6 | -4.8 | 3.9 | 4.8 |
| Gross domestic product, deflator | 2.2 | 1.6 | 2.2 | 1.7 |
| Consumer prices | 1.4 | 0.5 | 2.6 | 1.9 |
| Labor productivity (per hour worked) | -0.0 | -0.0 | 2.0 | 0.9 |
| Employment (1000 persons) | 45,269 | 44,818 | 44,804 | 45,565 |
| Unemployment rate (percent) | 5.0 | 5.9 | 5.8 | 5.3 |
| in relation to nominal GDP | ||||
| Public sector net lending | 1,5 | -4.5 | -4.9 | -1.4 |
| Gross public debt | 59.5 | 69.7 | 70.2 | 66.6 |
| Current account balance | 7.1 | 7.3 | 6.9 | 6.4 |
Key Indicator | EURO-AREA
GDP, consumer prices: percentage change on previous year.
Source: Eurostat
Shaded: Kiel Institute forecast
| 2019 | 2020 | 2021 | 2022 | |
| Gross domestic product (GDP), price-adjusted | 1.3 | -6.8 | 5.3 | 4.4 |
| Consumer prices | 1.2 | 0.3 | 2.0 | 1.7 |
| Unemployment rate (percent) | 7.5 | 8.0 | 8.0 | 7.1 |
| in relation to nominal GDP | ||||
| Public sector net lending | -0.6 | -7.3 | -6.8 | -3.5 |
| Current account balance | 2.4 | 2.1 | 2.4 | 2.2 |
Key Indicator | WORLD
Real GDP and consumer prices in selected countries and regions, 2020–2022
Weighted according to GDP at PPP rates. East Asia: Emerging Asia excluding China and India.
Shaded: Kiel Institute forecast.
Source: Kiel Institute for the World Economy.
| Gross domestic product | Consumer prices | |||||
| 2020 | 2021 | 2022 | 2020 | 2021 | 2022 | |
| United States | -3.5 | 6.7 | 4.1 | 1.2 | 4.0 | 2.7 |
| Japan | -4.7 | 2.7 | 2.2 | 0.0 | 0.5 | 0.8 |
| Euro Area | -6.6 | 5.3 | 4.4 | 0.3 | 2.0 | 1.7 |
| United Kingdom | -9.8 | 6.8 | 4.6 | 0.9 | 1.7 | 1.9 |
| Advanced economies | -4.7 | 5.7 | 3.9 | 0.8 | 2.7 | 2.1 |
| China | 2.3 | 8.7 | 5.7 | 2.5 | 1.3 | 2.3 |
| Latin America | -7.0 | 6.3 | 3.6 | 8.1 | 10.2 | 7.1 |
| India | -7.0 | 11.0 | 8.6 | 6.6 | 5.2 | 5.7 |
| East Asia | -4.5 | 5.2 | 6.2 | 1.1 | 2.4 | 2.6 |
| Russia | -2.6 | 2.7 | 2.3 | 3.6 | 4.7 | 4.0 |
| Africa | -1.1 | 4.2 | 4.5 | 7.9 | 9.4 | 8.9 |
| World economy | -3.2 | 6.7 | 4.8 | 3.3 | 4.1 | 3.9 |
| Addenum: World trade volume | -5.3 | 9.9 | 3.3 | . | . | . |
| Oil price (Brent in USD/Barrel) | 41.8 | 67.9 | 72.5 | . | . | . |
| World economy, weighted according to GDP at 2019 market exchange rates | -3.8 | 6.5 | 4.6 | 2.4 | 3.6 | 3.2 |
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