Germany has faced staggering economic losses due to a series of crises since 2020. According to the employer-related Institute of the German Economy (IW), the inflation-adjusted GDP losses over the past six years amount to approximately €940 billion.
This translates into a decline in value-added of more than €20,000 per employed person. The main drivers were the COVID-19 pandemic, the Russian war against Ukraine, and confrontational U.S. policies.
IW noted that about one-quarter of these losses occurred last year, largely due to trade disputes with the administration of U.S. President Donald Trump.
Sources – Agencies
