Saar economy will grow by 1.4 percent in 2021

Created: 03/30/2022, 11:52 am

A woman is holding banknotes and coins.

© Daniel Karmann/dpa/Illustration

The Saarland economy recovered somewhat from the corona-related slump in 2021, but is lagging behind in a nationwide comparison.

Overall, according to preliminary calculations, gross domestic product (GDP) rose by 1.4 percent in price-adjusted terms compared to 2020, as the Saarland Statistical Office announced in Saarbrücken on Wednesday.

Saarbrücken - Without taking price developments into account, GDP, which describes the total value of all goods and services produced in the federal state, increased by 4.4 percent (nominal).

The statisticians put it in absolute figures at 35.6 billion euros.

Price-adjusted GDP grew nationwide by 2.9 percent (nominally by 6.0 percent).

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The Saarland has taken a somewhat less favorable development than most other federal states, explained the statistics authority.

According to the information, economic growth was only weaker in Brandenburg.

Economic growth in Saarland was slowed down, among other things, by restrained demand.

In addition, rising producer prices, material restrictions and international supply bottlenecks, especially for semiconductors, are affecting industrial production, although the order situation is good.

The results are based on a preliminary evaluation by the working group “National Accounts of the Federal States”.

Due to the still limited database at this point in time, the meaningfulness of the figures is still very limited.

The Saar economy collapsed due to the corona-related economic crisis in 2020.

Price-adjusted GDP fell by 6.7 percent compared to 2019, nationwide this value was minus 4.9 percent.

dpa