Press release No. 184 of 29 April 2022
Gross domestic product (GDP), 1st quarter of 2022
+0.2% on the previous quarter (price, seasonally and calendar adjusted)
+4.0% on the same quarter a year earlier (price adjusted)
+3.7% on the same quarter a year earlier (price and calendar adjusted)
WIESBADEN – The gross domestic product (GDP) rose by 0.2% in the first quarter of 2022 on the fourth quarter of 2021 after adjustment for price, seasonal and calendar variations. Economic performance thus increased slightly in the first quarter of 2022, following the recovery of the German economy last summer and the decline at the end of 2021. This was mainly due to higher capital formation, whereas the balance of exports and imports had a downward effect on economic growth. The economic consequences of the war in Ukraine have had a growing impact on the short-term economic development since late February.
Gross domestic product increased year on year
GDP in the first quarter of 2022 was up a price adjusted 4.0% compared with the first quarter of 2021, the quarter in which the German economy had been affected by the consequences of the second wave of the Covid-19 pandemic. GDP growth was 3.7% after adjustment for price and calendar effects. The GDP in the first quarter of 2022 was 0.9% lower (price, seasonally and calendar adjusted) than in the fourth quarter of 2019, the quarter before the Covid-19 crisis.
Due to the continuing Covid-19 crisis and the war in Ukraine, these results are subject to larger uncertainties than usual.
Revision of previous results
In addition to calculating first data for the first quarter of 2022, the Federal Statistical Office as usual also reviewed the results published so far for the individual quarters and the year of 2021 and included new statistical information in the calculation of results. This did not result in any changes of the GDP results published previously.
| Unadjusted figures | Figures according to X13 price adjusted | |||||||
|---|---|---|---|---|---|---|---|---|
| At current prices | Price adjusted, chain-linked | Seasonally and calendar adjusted | Calendar adjusted | |||||
| EUR billion | % 1 | 2015 = 100 | % 1 | 2015 = 100 | % 2 | % 1 3 | ||
| 1 Change on the previous year or the same quarter of the preceding year in %. 2 Change on the previous year or quarter in %. 3 As for year the calendar adjusted values equal the seasonally and calendar adjusted values (except for differences due to rounding). qtr = quarter | ||||||||
| 2021 | 3,570.62 | 6.0 | 105.29 | 2.9 | 105.05 | 2.9 | 2.9 | |
| 2021 | 1st qtr | 848.65 | -1.3 | 102.00 | -3.0 | 102.59 | -1.7 | -2.7 |
| 2nd qtr | 866.06 | 11.9 | 103.92 | 10.8 | 104.82 | 2.2 | 10.4 | |
| 3rd qtr | 915.37 | 7.3 | 107.16 | 2.8 | 106.57 | 1.7 | 2.9 | |
| 4th qtr | 940.54 | 6.8 | 108.10 | 1.8 | 106.20 | -0.3 | 1.8 | |
| 2022 | 1st qtr | 914.51 | 7.8 | 106.08 | 4.0 | 106.41 | 0.2 | 3.7 |
More information:
Detailed results for the first quarter of 2022 will be released by the Federal Statistical Office on 25 May 2022.
A long time series containing quarterly results on the gross domestic product since the first quarter of 1970 is available for download from the “Volkswirtschaftliche Gesamtrechnungen, Inlandsprodukt” webpage.
The GDP also forms part of the Crisis Monitor (www.destatis.de/krisenmonitor), by means of which the Federal Statistical Office compares the development of major short-term indicators in the Covid-19 crisis and the financial and economic crisis of 2008/2009. The GDP is also available on the Corona statistics webpage (www.destatis.de/corona) and in the Dashboard Germany (www.dashboard-deutschland.de), together with other indicators which can be used to assess the economic consequences of the Covid-19 pandemic. The Dashboard Germany portal of the Federal Statistical Office combines up-to-date indicators of official statistics and indicators of other data providers on various topics such as economy and finance as well as environment, health and mobility.
