Germany lost a tenth of its gross domestic product during the two years of the crisis

By: Trademagazin editor Date: 2022. 02. 17. 11:01

Germany lost ten percent of its gross domestic product compared to the year before the crisis during the two years of the coronavirus crisis, and value-added production capacity also declined somewhat, according to a report by the Ifo Institute for Economic Research in Munich on Thursday.

The pandemic took 10 percent of German GDP

As a result of the crisis, Germany lost 330 billion euros in gross domestic product by 2020 and 2021. “This equates to a combined economic loss of 10 percent of economic performance of 2019,” said Timo Wollmershäuser, director of economic research at ifo. (MTI)