Impact of COVID-19 on Germany Economy Share, Trends, Size, Research and Forecast 2019-2025

Germany, having the world's fifth-highest number of coronavirus cases, has experienced far fewer deaths from the disease in comparison with the other countries including Italy, China, the US, and others. As of March 25, 2020, the registered cases of the COVID-19 in the country were around 33,000 out which 3,300 has been recovered and around 160 mortalities were registered so far. In an unprecedented response, the German government assured a large amount of liquidity support to all companies ranging from the smallest businesses to large multinational corporations. The country's government is providing loans to all companies to keep the country's economy afloat. Germany's state development bank KfW, which is the largest in Europe has approximately half a trillion Euros available to support the country's economy. The country is also planning to increase borrowing by around $160 billion in 2020.

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As similar to other European countries, the country has taken a number of steps in an attempt to prevent and control the spread of the disease. However, the country is also facing challenges of economic downfall due to the effect of the COVID-19 pandemic. It has affected the whole production capability of the country coupled with a slowdown in global demand, and concerns regarding the availability of raw material. As a result, the manufacturing companies in the country have temporarily shut down their industrial operations.

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Key companies operating in Germany whose business operations are significantly affected due to COVID-19 include BASF SE, Robert Bosch GmbH, BMW AG, Hyatt Hotels Corp., McDonald's Corp., Microsoft Corp., Siemens AG, Walmart Inc., Allianz SE, Daimler AG, Lufthansa AG among many others. As a result of the COVID-19 epidemic, most of the companies have to close their maximum numbers of stores in Germany. Due to the closure of all stores, the companies may face a loss of revenue per month. On the contrary, due to unprecedented demand for personalized protection equipment (PPE) in the country, the German government and manufacturers are adopting some important measures for the development and adoption of more PPEs. Along with this, the government is also focused on developing vaccines for the cure of COVID-19. For instance, BioNTech, a German-based company along with Pfizer is indulged in the drug development platform to find a vaccine for COVID-19.

Verticals Affected Most

o Automobile
o Energy
o Food & Beverage
o Electrical and Electronics
o Aviation
o Healthcare
o Retail & E-commerce
o Travel and Tourism
o Other (Chemical, Machinery, Gaming, Telecom)

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Company Profiles

o Allianz SE
o BASF SE
o BMW AG
o Rober Bosch GmbH
o Daimler AG
o Deutsche Post DHL Group
o Deutsche Telekom AG
o Henkel AG & Co.
o Hyatt Hotels Corp.
o Lufthansa AG
o McDonald's Corp.
o Microsoft Corp.
o Siemens AG
o Uniper SE
o Walmart Inc.

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