GDP: Economy will grow strongest in Mecklenburg-Western Pomerania in 2023

Mecklenburg-Western Pomerania became the fastest growing federal state last year. Compared to 2022, that took gross domestic product (GDP) increased by 3.3 percent, according to data from the state statistical offices. The federal state on the Baltic Sea is benefiting from the rebound in tourism after the corona pandemic, but also from the new liquid gas terminal in Lubmin, which went online in January 2023. However, has Mecklenburg-Western Pomerania only accounts for 1.4 percent of overall German economic output.

Coming in second place among the fastest economically growing federal states Brandenburg with an increase of 2.1 percent. Last but not least, it benefits from the Production by the US electric car manufacturer Tesla, who runs a factory in Grünheide. Otherwise, only Berlin (+1.6 percent), Hesse (+1.2 percent), Bavaria (+0.3 percent) and Lower Saxony (+0.2 percent) achieved growth.

Overall it is German economy shrank by 0.3 percent last year: most sharply in Rhineland-Palatinate, where GDP fell by 4.9 percent. Sales in the pharmaceutical industry there shrank by 44 percent – 2021 and 2022 were due to the corona vaccine production from the Mainz manufacturer BioNTech made big profits. Like most energy-intensive industries, the state’s chemical industry, led by the Ludwigshafen-based BASF group, also recorded significant declines in sales.

Economic performance has also fallen in other federal states. These include: Saxony-Anhalt (−1.4 percent), Hamburg and Schleswig-Holstein (both −1.1 percent) and North Rhine-Westphalia (−1.0 percent). In Baden-Württemberg, Bremen, Saarland and Saxony it also fell more than average, with minus 0.6 percent each.