Economy

Germany's economy expands 2.8% in 2021

In Q4, German economy narrows versus previous quarter due to COVID-19 pandemic

Gokhan Ergocun   | 28.01.2022
Germany's economy expands 2.8% in 2021

ISTANBUL

The German economy grew 2.8% in 2021, official figures showed on Friday.

The country's gross domestic product (GDP) expanded 1.4% at the last quarter of 2021 versus the same quarter in 2020, the Federal Statistical Office (Destatis) said.

On a quarterly basis, the German economy contracted 0.7% in the last quarter of 2021 due to the new coronavirus variants.

"The GDP in the fourth quarter of 2021 was up by a price-adjusted 1.4% on the fourth quarter of 2020.

"The GDP in the fourth quarter of 2021 was still 1.5% lower than in the fourth quarter of 2019, the quarter before the COVID-19 crisis," Destatis said.

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