I think word count is not the best metric precisely because of what you mention. "Krankenversicherungskarte" is one word vs the three word "health insurance card", but they convey the same information in roughly the same amount of characters.
Overall I don't find German particularly verbose, only sometimes a small phrase is condensed into a single word.
At least in ON a lot of products don't really say where they are from. I avoid those products nowadays, but I never understood why it's allowed in the first place. In the place where I'm from all products say so.