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The GDP growth rate in the context of the World Development Indicators (WDI) refers to the annual percentage increase or decrease in a country's Gross Domestic Product (GDP), adjusted for inflation. The WDI is a comprehensive database maintained by the World Bank that tracks various economic, social, and environmental development indicators across the globe.
Key Takeaways
Germany GDP Growth Rate by Year (1961-2023)
Germany's GDP growth rate demonstrates significant economic fluctuations shaped by historical and global events. During the 1960s, the economy expanded robustly, peaking at 7.4% in 1969, supported by industrial and export strength. However, the oil crisis in 1973-1974 led to sharp slowdowns, with growth contracting to -0.9% in 1975. The reunification in 1990 fueled a temporary surge in growth, reaching 5.3%, yet structural adjustments and integration challenges caused a slump, with -1.0% in 1993.
Entering the 21st century, growth was moderate but resilient until the 2009 financial crisis triggered a dramatic -5.7% contraction. Recovery followed, though instability persisted, particularly during the eurozone crisis. In 2020, the pandemic caused another sharp decline of -3.8%, but a rebound of 3.2% in 2021 highlighted resilience. Nevertheless, growth softened to -0.3% in 2023 amid global economic pressures.
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