Economic outlook
ANTICIPATED DEVELOPMENT / % | 2021 | 2022 (Mar | 2022 (Jul |
World trade | +11.9 | +5.0 | +3.5 |
GDP world | +5.9 | +4.0 | +3.1 |
GDP Eurozone | +5.3 | +3.5 | +2.9 |
GDP Germany | +2.9 | +3.5 | +1.7 |
As of July 2022.
Source: Oxford Economics
Moderate growth in the global economy is expected for 2022, with the pre-Covid-19 level being exceeded in the European Economic Area for the first time in 2022. The continued recovery from the Covid-19 pandemic, driven particularly by a sharp increase in private consumption, is having a positive effect. However, due to the impact of the war in Ukraine, it is expected that gross domestic product (GDP) and trade will not grow as strongly as assumed in the forecast from March 2022. High inflation rates, disrupted global value-added chains and uncertainties regarding the geopolitical framework are having a noticeable negative impact on economic development in 2022.