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Oh, definitely. It was tied for 2 when the war started: https://i.redd.it/wyaw5ffttz871.jpg or https://en.wikipedia.org/wiki/List_of_regions_by_past_GDP_(PPP)#1830%E2%80%931938_(Bairoch)
Or per capita: between 10th (1929) 6th (1937) https://en.wikipedia.org/wiki/List_of_regions_by_past_GDP_(PPP)_per_capita
Here's some rambling detail:
Really, everything's a comparison to the US with its cartoonish relative economic strength. My personal takeaway of their economy: Germany took out massive loans, made fake money (Mefo bills etc.), invested almost everything into the military and were forced to start the war early, lest they default.
I have seen cool figures for this, but don't want to dig now, here's a video-graph: https://youtube.com/watch?v=UrUp5Rm_Ncw?si=bgnTAdqvsmnJ6S9v&t=227 I don't quite trust those numbers, but meh. They suggest Germany'd have massive overmatch in Europe (or a lot of embezzlement), which makes sense (since they steamrolled everyone). I'm unsure to what extent it presents/exposes difficult issues like training etc. where longer investments pay off (vs. just buying a bunch of equipment today.) On the other hand, it shows the German citizens were using less of their productivity for themselves, such that life in the UK was perhaps 40-60% "richer". This can make sense in some ways, perhaps exposing the huge infrastructure projects which didn't have civilian use (road network but no cars...)
I dug into this some years, ago, and learned German industry largely rejected assembly lines, struggled to make interchangeable parts (thus making new vehicles to arm new units, instead of supplying veteran units, though weak transportation infrastructure also played a role), wouldn't share designs such that each company would build its own model and its allies would have to develop their own equipment from scratch. And yet, that was still better than most. It's really a world away from our ideas of modern industry or what the US was doing. It's hard for many to realize how close we are to the drudgery of subsistence farming most of our ancestors did in the last 1-200 years.
This is a big topic. Short summary: The main industrial centers were in Czech lands with fewer Germans (the Sudetenland was mountainous and poor.) However those Czechs had largely German speaking ancestors 100 years prior. The national revival saw the language spread in the cities etc. Czech leadership in Austria(-Hungary) drove industrialization harder than in Austria itself! Austria, for whatever reason, got stuck in the first industrial revolution (steam and water power etc.) but was behind even Hungary by 1880 in the second industrial revolution (electrification, trains, standardization). In 1918, Czechoslovakia had 3/4 of the former empire's industrial capacity. Slovakia was extremely poor, however; driving the statistics down. To accentuate the issue of identity, though German townfolk became Czech over time, rich Czechs became Germans. Škoda was born to well to do (Czech) peasants (doctor and politician), founded a huge factory, but his son identified as German! Indeed, as Germany in WWII, so Austria-Hungary in WWI. Why is Austria-Hungary, a more industrialized country than France, considered so backwards?
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