China News Agency, Berlin, January 15 (Reporter Peng Dawei) Preliminary statistics on gross domestic product (GDP) released by the Federal Statistical Office of Germany on the 14th show that Germany's GDP in 2020 has fallen by 5% (yoy, the same below).

This is the first economic recession in Germany since 2010.

  The German Federal Statistics Office pointed out that this data shows that the German economy has fallen into a deep recession after a period of ten years of growth.

The last time Germany’s annual GDP experienced a recession was in 2009 during the 2008-2009 financial crisis, when Germany’s GDP fell by 5.7%.

On January 5, the famous German infectious disease scientist Marilyn Addo and others showed off their vaccinated arm and an advertisement encouraging people to get the new crown vaccine appeared at a bus stop in Berlin.

Photo by China News Agency reporter Peng Dawei

  From an industrial perspective, in 2020, the new crown epidemic will have a huge impact on almost all industries in Germany, and the production activities of the service industry and manufacturing industry will be greatly restricted for a certain period of time.

However, the German construction industry bucked the trend and grew by 1.4% last year.

  As a major exporter, the raging global epidemic has also caused a serious impact on German exports.

In 2020, the total volume of German import and export trade declined for the first time since 2009, with exports and imports falling by 9.9% and 8.6% respectively.

Affected by the suspension of tourism, the decline in German service exports has been particularly serious.

  In terms of fiscal revenue and expenditure, Germany has experienced a deficit for the first time in 2020 after achieving a fiscal surplus for eight consecutive years.

Preliminary calculations show that Germany's treasury deficit will reach 158.2 billion euros in 2020.

  The German ifo Institute for Economic Research pointed out that the outbreak of the new crown epidemic in 2020 and the subsequent official epidemic prevention measures have plunged the German economy into the worst crisis since the end of World War II. The 5% annual GDP decline was the second highest year since the end of World War II. , Second only to 2009.

  The Institute predicts that if consumer behavior in Germany can return to normal this summer with the advancement of large-scale vaccination, then Germany's manufacturing and service industries will be expected to return to what they were before the outbreak as early as the second half of this year. Level.

It expects that Germany can achieve about 4.5% economic growth this year.

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