As of: March 28, 2024, 10:52 a.m
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Ships are loaded in the Duisburg container port. © Bernd Thissen/dpa/Symbolbild
North Rhine-Westphalia's economic performance fell more sharply last year than the national average. The gross domestic product (GDP), adjusted for prices, fell by 1 percent compared to the previous year, as the state statistical office IT.NRW announced on Thursday in Düsseldorf according to initial calculations. In nominal terms - i.e. not adjusted for inflation - economic output increased by 5.1 percent.
Düsseldorf - The decline in economic output in North Rhine-Westphalia in 2023 was significantly greater than the national average. According to statisticians, GDP across Germany - i.e. the value of all goods and services produced - fell by 0.3 percent.
The largest decline of all economic sectors in the most populous federal state was recorded in the manufacturing sector, without taking the construction industry into account. Here, price-adjusted value added fell by 4.8 percent compared to the previous year. The comparatively small area of agriculture, forestry and fishing was able to increase by 2.8 percent. The service sector, which accounts for by far the largest share of economic output in North Rhine-Westphalia, recorded a slight increase of 0.4 percent.
Employed people in North Rhine-Westphalia achieved an average economic output of 85,800 euros per capita in 2023. In nominal terms this was 5.1 percent more than in the previous year, but adjusted for prices it was 1.5 percent less. Economic experts in North Rhine-Westphalia are expecting a slight economic recovery this year. According to a recently published forecast, the RWI research institute expects GDP to grow by 0.3 percent. dpa