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Bavarian Minister of Economic Affairs about current BIP statistics: „Bavaria and its strong industry are Germany’s growth engine“

28.03.2013



Bavarian industry still Germany's power house - courtoisie bayern.de

Bavaria’s Minister of Economic Affairs, Mr. Martin Zeil, sees the state of the economy in the Land on a steady growth path: “In 2012, Bavarian companies have resisted very well to a harsh international environment. The economic performance was 0.7% above the already strong results of (2011). This shows that our economy is on the brink to a new steady, long-term growth pattern.” Moreover, he underlines the recalculation of growth rates of the previous years. “Bavaria’s economic performance has a track-record of two remarkable boom-years in 2010 and 2011, which places us 6% above the pre-crisis level of 2008. This is a total smash when compared to other German regions. Bavaria is and stays Germany’s long-term growth engine.”

The backbone of this success is the processing industry, with a 15% increase of value added  since 2008 – while elsewhere it decreased or stagnated. Current statistics show once more, that Bavaria’s strength lies within its modern industrial core.

According to the figures divulged today by the Landesamt für Statistik und Datenverarbeitung (Regional Statistics Office), the State of Bavaria's economic performance  lies at 465.5 bn Euros in 2012, which is an inflation-adjusted 0.7% above the previous year. This increase corresponds to the average growth in federal Germany. The industry’s gross value added stagnated in Bavaria in 2011, while it decreased by 1.0% in the rest of Germany.

The newly published growth statistics also contain a large revision of the previous years, which establishes the Bavarian economic performance increasing by 4.6% in 2010 and again in 2011 (correcting the previous stats of 4.2%, resp. 2.7%).

Quelle: StMWIVT