July 2012

Higher growth in Saarland in 2011

In 2011, the Saarland gross domestic product (GDP) climbed by 4.8 % in nominal terms instead of 4.7 % as estimated before. The growth rate in real terms remained unchanged at 4.1 % . Thus, Saarland , as in the year before, had seen a record growth. On the German average, the GDP in real terms only grew by 3.0 % , which means second place for Saarland in the current ranking of all German States. Industry was once more the growth engine in Saarland. All in all, the processing sector in Saarland registered an increase in orders of 15.0 % and a rise in sales of 15.1 % . Hence the value added in the processing industry climbed by 12.14 % in real terms in 2011. This was the highest increase of all German States

Jürgen Barke, State Secretary at the Ministry of Economics, Labor, Energy and Transport, is pleased about the growth figures: `Saarland´s industry is internationally successful and a guarantor of growth and employment. It is especially the over-average growth of the processing industry that shows the power of the Saar economy. Products from Saarland are also in international demand. Made in Saarland becomes more and more a hallmark of quality far beyond our borders.`
Prospects of the Saarland economy for this year give reason for cautious optimism. On the one hand, demand from Southern Europe was dampened due to the ongoing debt crisis. However, positive impulses are set by domestic demand and the strongly growing emerging markets. Brazil, Russia, India and China are gaining importance as sales markets for Saarland products. Saarland companies are largely confident about their future and are in a better mood than the national average. Therefore, the growth of the Saarland economy is likely to exceed the national trend also in 2012.

From: » www.saarland.de