The health industry in Germany is constantly growing. The latest figures from the Federal Ministry for Economic Affairs and Energy show its significance for the German economy and job creation.
The health industry contributes significantly to the gross value added
Germany’s health industry generated 350 billion euros in gross value added in 2017; Germany’s flagship industry, the automotive sector, achieved a gross value added of 124 billion euros (2015); tourism contributed 100 billion euros (2017) to the GDP. Gross value added measures all goods and services produced, less the value of intermediate consumption, i.e. raw materials or intermediate products.
The health industry strengthens the entire German economy
The healthcare industry’s intermediate consumption is totaling € 231 billion. It comes to 40% from the health industry itself. The manufacturing industry provides 26% of the intermediate consumption. 3.1% of the intermediate consumption, or 7.2 billion euros, come from the information and communications industry.
The health industry is a job engine
The healthcare industry employs 7.3 million people; this corresponds to 16.6% of all employees in Germany. Since 2006, the industry has created 1.4 million new jobs. AND: For every direct employee in the health industry, another 0.56 jobs are created in the overall economy
For comparison, the automotive industry employs 820,000 people; 3 million people work in Germany’s tourism sector.
The health industry is growing 1% stronger than the economy as a whole
Average growth in the healthcare industry is at 3.8% (2006-2017); the overall economy grew by 2.8% in the same period. Its share of GDP has increased from 10.7% (2006) to 11.9% (2017) due to constant growth. The industry is crisis-proof: Even in 2009, the year of the financial crisis, it posted growth.
The health economy is becoming more global; imports and exports are rising
Its share of Germany’s total exports is 8.4% (2017) – this corresponds to 126 billion euros and a growth of 64 billion euros since 2006. Its share of total imports is 8.5% – which corresponds to 103.7 billion Euro. Thus, the health industry is responsible for 8% of the German trade surplus of 249 billion euros (2017). However, imports have also grown steadily and have doubled since 2006.
Source: German Federal Ministry for Economic Affairs and Energy; The Health Industry – Facts & Figures, 2017