After more than ten years of uninterrupted growth, Berlin’s economic output and the number of people in work fell in 2020 due to the Corona situation. The price-adjusted gross domestic product fell by 3.3% compared to the previous year (Germany -4.9%). While the capital generated around 157 billion Euro in 2019, it was around 155 billion Euro in 2020. The number of people in employment fell by -0.4% compared to the previous year (Germany -1.1%). In a comparison of the Federal states, Berlin recorded the smallest decline.
The forecasts for the Berlin economy are encouraging: They assume a recovery in the second half of the year. Accordingly, the economic level of 2019 could be reached again at the beginning of 2022.
(Source: IBB, Berlin Konjunktur, June 2021)
In 2020, consumer prices in Berlin increased by an average of 0.5 percent over the previous year. The increase was therefore lower than that posted in the previous year.