Hessen shines: High GDP per capita in Germany despite pressure!

Hessen shines: High GDP per capita in Germany despite pressure!

The German export industry faces current challenges, especially in Hesse, where the economy and corporate landscape play a crucial role. According to the information from fr.de , Hessen is third in the area with regard to the gross domestic product (GDP) per capita, to Bavaria and Baden-Württemberg. In 2023, however, the Hessian GDP was not untouched by the economic turbulence.

the report of Statistics.hessen.de According to the Hessian GDP grew by 7.8 percent to 351 billion euros, which corresponds to a share of 8.5 percent in German GDP. Compared to the previous year, the number of employed people in Hesse rose by 1.0 percent to 3.59 million. The company's success is also due to the strong industrial nose and important companies such as Deutsche Bank and Deutsche Lufthansa, which are established in the region.

important companies in Hesse

The most important companies are Fraport AG, operator of the Frankfurt Airport, and Deutsche Lufthansa AG, which recorded over 60 million passengers in 2023. Other important companies are:

• condor : airline based in Neu-Isenburg.
• Deutsche Flugicherung GmbH : Part of the federal air traffic management.
• Commerzbank AG : second largest private bank in Germany.
• Merck : chemical and pharmaceutical company with a long tradition.
• Fresenius : DAX-listed health company.
• Viessmann : Manufacturer of heating technology products, the sales of which has already been generated abroad in 2019.
• K+S AG : operator of the Hessian salt and potash mining.

Despite these economic successes, the Hessian economy is not immune to the global market situation. The manufacturing trade recorded a decline of 0.2 percent, while the processing industry grew by 0.3 percent, but could not reach the 2019 level. In the service sectors, on the other hand, growth was 2.0 percent, which underlines the strength of these areas.

In addition to the positive development of GDP in 2023, the reporting period shows that labor productivity has increased by 0.3 percent and that the contribution of every employed to the Hessian GDP is 97,750 euros - this is 9.0 percent above the federal fund.

business forecasts and trends

with a GDP per capita of 54,810 euros, which is over 12.4 percent above the national average, Hessen would take fifth place among the EU countries as an independent EU member state. These figures show the diversity and robustness of the Hessian business location, even if there are challenges such as the easily back manufacturing business.

The Hessian economy has the opportunity to adapt to the global changes and continue to be an engine for growth in Germany. The course for a positive year 2023 seems set, especially in view of the important companies mentioned, which are active in the region and often also act internationally.