Germany accounts for 29% of Eurozone GDP and 25% of its population.
In the previous decade, its unemployment rate has remained below the average for the Eurozone, reaching its current level of 3.2%.
German GDP growth has fluctuated within a range of just 1 pp between 1981 and 2020, in spite of the slowdown that started in 2018.
In 2019, exports of German goods eased slightly reaching 0.7% per year due to the backdrop of international weakness.
The deterioration of the external sector has had a significant impact on German production volume that, since mid 2018, has contracted at a year-on-year rate of 2.7%.