Germany's major corporations surpassed one trillion euros in sales revenue for the first instance.
For the first time ever, prominent German corporations sailed past the billion-euro mark in sales last year, clocking in at roughly 1 trillion euros. This was a 4.7% growth from the preceding year when they managed to accumulate a nominal turnover worth 955.6 billion euros. Inflation could be a possible contributor to this hike, as prices increased at a rate of 5.9% in 2023.
A group of businesses with at least 1,000 workers in manufacturing and mining are cataloged as 'large' firms. In Germany, there were a whopping 675 such mega-companies in operation last year.
Reaching this billion-euro milestone corresponds to a whopping 42.3% of the overall sales in the manufacturing and mining sector. However, large corporations make up a relatively small chunk at only 1.4% of all companies in this sector. The team of statisticians in Wiesbaden revealed that this portion has remained steady for quite some time.
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- The overall turnover of these large companies in Germany exceeded 1 trillion euros for the first time in a year, contributing significantly to the economy.
- Despite the growth, large companies in Germany account for only 1.4% of the total number of companies in the manufacturing and mining sector, with each firm generating significant yearly revenues in the trillions.
- With large companies generating trillions in sales revenue in Euros, it's no surprise that their operations in the country have a significant impact on the country's economy in the year.
