While large enterprises with at least 1,000 employees only accounted for 1.4 percent of manufacturing and mining companies in Germany last year, their combined revenue made up more than 40 percent of total revenues.
BERLIN, June 11 (Xinhua) -- Large industrial companies in Germany generated combined revenues of more than one trillion euros (1.07 trillion U.S. dollars) for the first time in 2023, the Federal Statistical Office (Destatis) said on Tuesday.
This represents a 4.7 percent increase from the previous year.
The result was driven by rising prices, said Destatis. In 2023, Germany's average inflation rate stood at 5.9 percent, down from 6.9 percent in the previous year. Since the beginning of 2024, inflation has once more fallen below 3 percent.
While large enterprises with at least 1,000 employees only accounted for 1.4 percent of manufacturing and mining companies in Germany last year, their combined revenue made up more than 40 percent of total revenues.
Volkswagen had the highest turnover among Germany's blue-chip DAX companies. In the financial year 2023, the country's largest car manufacturer generated around 322 billion euros with its ten brands including Porsche and Audi, around 15 percent more than in the previous financial year.
Underscoring the importance of Germany's automobile sector, BMW, which also includes the Mini and Rolls-Royce brands, achieved revenues of 155.5 billion euros in 2023. It was closely followed by Mercedes-Benz, with around 153 billion. (1 euro = 1.07 U.S. dollar) ■
