Real Value of Gross Domestic Product and Terms of Trade: Results for 2019

In addition to the price-adjusted gross domestic product, the German Federal Statistical Office also publishes the real value of the gross domestic product. The two key indicators differ in their terms-of-trade effect. Accordingly, the German economy has been able to record gains in purchasing power for 2019 due to improved terms of trade; real incomes have increased more strongly than is reflected in the rise in overall economic production.