Health economy grows faster than the overall economy
4/13/2023 Transformation News

Health economy grows faster than the overall economy

The figures of the Health Industry Round Table of the Federal Ministry of Economics and Climate Protection show that the health industry has grown steadily on average over the past ten years, at an average of 4.6 percent per year, significantly faster than the economy as a whole, which is growing at an annual rate of 3.5 percent. Every eighth euro of gross value added in Germany is generated in the health industry. These figures were recently presented by the Ministry.

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The health economy has grown steadily over the last ten years. In 2022, it generated 439.6 billion euros in value added. This corresponds to 12.7 percent of the gross value added in Germany. Calculated per day, that is more than 1.2 billion euros in gross value added. In 2022, gross value added grew by 32.1 billion euros compared to 2021. Compared to the figures in the Corona years - an increase of 10.9 billion euros from 2019 to 2020 and 20.8 billion euros from 2020 to 2021 - the health economy has recovered significantly. In this context, the industrial health economy has grown by almost 14.5 per cent compared to the previous year.

More than 1.1 million people were employed in the industrial health economy (IHE) in 2022, 19.2 per cent more workers than in 2013. 

Exports amounting to almost 175 billion euros

In 2022, foreign trade of the entire health economy increased by 6.9 percent in exports (IHE: +7 percent) and by 7.4 percent in imports (IHE: +5.1 percent) compared to the previous year. In 2022, exports of the health economy amounted to 174.6 billion euros and thus 9.9 percent of all German exports. The industrial health economy accounted for the lion's share with 171.6 billion euros, which is more than 92 percent of the exports of the entire health economy. The export-strong sectors here are in particular the medical technology and pharmaceutical industries.

In the last ten years, exports of the health economy grew by an average of 6.4 percent per year. After deducting imports, the health economy has a positive foreign trade surplus of 20.7 billion euros in 2022.

Over 23% of gross value added is generated in the industrial health economy

The industrial health economy has shown continuous growth over the long term, and with an average growth of 5.1% per year since 2013, this has even been higher than the average growth of the health economy over the same period (4.6% per year). With 103 billion euros in gross value added, the IHE reached a new all-time high in 2022. The share of the IHE in the value added of the health economy was 23.4 percent in 2022.
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