MUNICH "Bavaria is Germany's economic powerhouse. The Free State is among the very top German states when it comes to economic dynamism, in both the short and long term," comments Bavaria's Minister of Economic Affairs, Ilse Aigner, on the new figures for economic growth at state level in 2013.
"The fact that the Bavarian economy grew by 1.0 per cent in real terms in 2013 (Germany as a whole: 0.4 per cent) is truly remarkable given last year's worldwide economic slump." The state's long-term economic robustness and dynamism are particularly impressive: Since the start of the worldwide financial market and economic crisis in 2008/9, Bavaria's economic performance has seen growth of 8.5 per cent – more than any other German state (Berlin: + 6.2 per cent; Germany as a whole: + 3.1 per cent).
Industry remains the real strength of the Bavarian economy, with above-average growth figures. Industrial value creation has increased by 35.2 per cent since 2005 (Germany as a whole: 15.2 per cent). Aigner: "Bavaria is in the very top division internationally as an industrial location." The export quota of industrial companies has achieved a new record level of 54.0 per cent.
Aigner is also optimistic about the future: "I am anticipating economic growth of over 2 per cent for Bavaria." Uncertainty surrounding further developments in Crimea and economic relations with Russia may be clouding economic prospects, but the boom is broad-based and stable enough to overcome that. Aigner: "I do not see a serious threat to our economy over the next few months."