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Strong economic growth and record employment in 2017

Eurogate Containerterminal

FILE - An archive picture dated 25 August 2010 shows container bridges of company Eurogate (Foreground) and company Stromkaje at the container terminal in Bremerhaven, Germany. Harbor logistics company Eurogate presents its annual results 2011 on 18 April 2012. Photo: Ingo Wagner | Verwendung weltweit, © dpa

11.01.2018 - Press release

The economy in Germany last year was characterised by robust economic growth once again. Employment in Germany was at all-time high after 1.5 percent increase in 2017.

According to first calculations of the German Statistical Office (Destatis), the price-adjusted gross domestic product (GDP) was 2.2 percent higher in 2017 year on year.

The German economy has grown for the eighth year in a row. Compared with the preceding years, the growth rate accelerated once again.

In 2016 the GDP had already risen significantly by 1.9%, and by 1.7% in 2015. From a longer term perspective, German economic growth in 2017 exceeded the average growth rate of the last ten years (+1.3%) by almost one percentage point.

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During 2017, a record 44.3 million people were in employment in Germany, an increase of 638,000 (+1.5%) on the previous year.

This marked the highest increase since 2007 and the twelfth successive year of of job growth in Germany.

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