Press release No. 087 of 4 March 2022
Turnover in the service sector, 4th quarter of 2021 (calendar and seasonally adjusted, in nominal terms, provisional)
+4.6% on the previous quarter
+15.4% on the same quarter of the previous year
WIESBADEN – The enterprises of selected service branches in Germany generated a nominal (not price adjusted) turnover in 2021 that was up 11.3% on 2020 according to provisional results of the Federal Statistical Office (Destatis). Turnover had still been 6.2% below the level of the pre-crisis year of 2019 in 2020 but was 4.4% higher in 2021. This means that the service sector recovered from the slumps in turnover recorded in the first Covid crisis year 2020, in nominal terms. However, a considerable part of this turnover increase is presumably due to the markedly higher prices of services. Transportation and storage, for instance, recorded price increases of up to 25% in the third quarter of 2021 on the same quarter a year earlier. This was mainly due to the price development in water transport. The freight rates in waterborne transport were up by 180% compared with the third quarter of 2020.
Basic data and long time series are available in tables Turnover indices in the service sector (47414-0001) (47414-002) (47414-0003) and Employment indices in the service sector (47414-0010) in the GENESIS-Online database.
