Forecast: Output of Financial Services in Germany

The financial services sector in Germany exhibited an overall upward trend between 2013 and 2023, with periods of both growth and slight declines. The output in 2023 stood at 292.36 billion Euros, highlighting a growth trend from 245.14 billion Euros in 2013. The year-on-year variation showed notable growth in years such as 2015 (5.08%) and 2019 (4.6%), while experiencing minor declines or stagnation in years such as 2016 (-0.61%) and 2021 (-1.86%). The average annual growth rate (CAGR) over the past five years leading up to 2023 was approximately 1.73%.

Looking into the future, from 2024 onwards, forecasts suggest a steady increase in the output of financial services, achieving an annual CAGR of approximately 1.03% until 2028. By 2028, the output is expected to reach around 312.01 billion Euros, reflecting a growth of 5.28% over the five-year period.

Future trends to watch for include:

• Potential impacts of digital transformation on the financial services sector.
• The influence of regulatory changes and economic policies on market dynamics.
• Emerging fintech innovations and their integration into the traditional financial ecosystem.
• Global economic conditions and their effect on Germany's financial sector growth.