"Germany's economic losses from years of overlapping crises have been mounting to nearly 1 trillion, according to estimates by the German Economic Institute (IW). The employer-aligned research institute said the inflation-adjusted shortfall in gross domestic product since 2020 has totaled about 940 billion (about $1.1 trillion) over six years, reflecting the impact of the coronavirus pandemic, the effects of Russia's war against Ukraine, and confrontational US policy."
"IW calculated that this equals a value-added loss of more than 20,000 per employed person. Around one-quarter of the total was attributed to last year, which was shaped by tariff conflicts with US President Donald Trump's administration. Official data showed Germany narrowly avoided a third consecutive year without economic growth in 2025, with real output rising by 0.2%. IW researcher Michael Groemling said the current decade has been marked by "extraordinary shocks and massive economic adjustment burdens" that now exceed the strain of earlier crises."
Germany has an inflation-adjusted GDP shortfall of about 940 billion (approximately $1.1 trillion) accumulated since 2020, measured over six years. The shortfall reflects the coronavirus pandemic, Russia's war against Ukraine, and confrontational US policy, with around one-quarter of the total attributed to last year amid tariff conflicts with the Trump administration. IW calculated the loss equals more than 20,000 in value added per employed person. Official data showed real output rose 0.2% in 2025, narrowly avoiding a third consecutive year without growth. The losses exceed those from 2001–2004 stagnation and the 2008–2009 financial crisis.
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