Ankara: Germany's gross domestic product (GDP) contracted by 0.2% year-on-year in the fourth quarter of 2024, official figures released on Tuesday showed.

According to Anadolu Agency, in the last quarter of 2024, exports of goods and services fell considerably by 2.2% compared with the previous quarter, the country's statistical authority, Destatis, revealed. Meanwhile, imports of goods and services increased by 0.5% in the country.

Economic performance in the manufacturing sector fell 0.6%, marking the country's seventh consecutive drop. The country's economy has also shrunk by 0.3% in the third quarter of 2024, following growth rates of 0% and minus 0.2% in the second and first quarters, respectively.