The fastest growing economy in Europe in 2024 was Malta. The small Mediterranean country's gross domestic product grew at five percent in 2024, beating out Montenegro which had a growth rate of almost four percent and the Russian Federation which had a rate of 3.6 percent in the same year. Estonia was the country with the largest negative growth in 2024, as the Baltic country's economy shrank by 0.88 percent compared with 2023, largely as a result of the country's exposure to the economic effects of Russia's invasion of Ukraine and the subsequent economic sanctions placed on Russia. Germany, Europe's largest economy, experience economic stagnation with a growth of 0.1 percent. Overall, the EU (which contains 27 European countries) registered a growth rate of one percent and the Eurozone (which contains 20) grew by 0.8 percent.

This dataset provides values for GDP ANNUAL GROWTH RATE reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

The economy of the European Union is set to grow by *** percent in 2026, according to forecasts by the European Commission. This marks a significant slowdown compared to previous years, when the EU member states grew quickly in the aftermath of the COVID pandemic. ***** is the country which is forecasted to grow the most in 2026, with an annual growth rate of **** percent. Many of Europe's largest economies, on the other hand, are set to experiencing slow growth or stagnation, with Germany, France, and Italy growing below *** percent.

Full Year GDP Growth in European Union increased to 1 percent in 2024 from 0.40 percent in 2023. This dataset includes a chart with historical data for European Union Full Year GDP Growth.

The statistic shows the growth of the real gross domestic product (GDP) in the EU member states in the second quarter 2025 compared to the same quarter of the previous year. GDP is the total value of all goods and services produced in a country in a year. It is considered to be a very important indicator of the economic strength of a country and a positive change in it is a sign of economic growth. In the second quarter of 2025, the real GDP in Denmark increased by 1.2 percent compared to the same quarter of the previous year. The overall EU GDP amounted to around 15.8 trillion euros around the same time. Global economy and the economic crisis The global economy has been slowly recovery after having been devastated by the global financial crisis in 2008. The economic crisis, which hit Greece, Ireland and Portugal, among other countries, severely, marked the beginning of the European sovereign debt crisis which forced these nations to request a bailout between 2013 and 2014. In November 2014, the unemployment rate in Greece amounted to around a desastrous 25 percent, which means one quarter of Greeks who were of working age were out of work. Meanwhile, the unemployment rate average for the whole European Union was at 10 percent. In addition, Greece, Italy, Portugal, and Ireland ranked at the top of the list of the nations in the European Union with the largest national debt in relation to the gross domestic product. In the third quarter of 2014, Greece’s national debt amounted to 176 percent of the gross domestic product. Despite the crisis, the global economy is expected to improve. It is estimated that GDP in the European Union will grow by 1.85 percent in 2015 in comparison to the previous year. Also, the national debt in relation to GDP in Greece, Italy, Portugal and Ireland will decrease between 2015 and 2016.

Key information about EU Nominal GDP Growth

• European Union Nominal GDP Growth was reported at 4.145 % in Dec 2024.
• This records a decrease from the previous number of 4.350 % for Sep 2024.
• EU Nominal GDP Growth data is updated quarterly, averaging 3.822 % from Mar 1996 to Dec 2024, with 116 observations.
• The data reached an all-time high of 16.294 % in Jun 2021 and a record low of -11.067 % in Jun 2020.
• EU Nominal GDP Growth data remains active status in CEIC and is reported by CEIC Data.
• The data is categorized under World Trend Plus’s Global Economic Monitor – Table: Nominal GDP: Y-o-Y Growth: Quarterly: Seasonally Adjusted.

The statistic shows the growth of the real gross domestic product (GDP) in the European Union and the Euro area from 2020 to 2024, with projections up until 2030. GDP refers to the total market value of all goods and services that are produced within a country per year. It is an important indicator of the economic strength of a country. Real GDP is adjusted for price changes and is therefore regarded as a key indicator for economic growth. In 2024, the GDP in the European Union increased by about 1.12 percent compared to the previous year. Growth trends in the EU compared to the euro area The euro area, which is also called the eurozone, is an economic and monetary union (EMU) which includes 19 of the 27 European Union member states which have formally adopted the euro. Those countries include Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain. Member states which have not yet adopted the euro include Bulgaria, Croatia, Czechia, Denmark, Hungary, Poland, Romania, Sweden and the United Kingdom. Additionally, there is the so-called Schengen Area, which is composed of EU and non-EU states, and has been established mainly to facilitate travelling in Europe. While some countries, such as Kosovo and Montenegro have adopted the euro unilaterally, they are not formally part of the eurozone. Others have established a monetary agreement with the EU to use the euro, such as Andorra, Monaco, San Marino and the Vatican, but they do not form part of the official euro area. As can be seen in the chart, annual GDP growth slumped in 2012 and 2013, presumably as a result of the global financial crisis, in both the EU and the euro area. In 2013, growth began increasing ever so slightly and in 2014 the EU regained a bit of stability. However, overall recovery in the EU has been relatively moderate and gradual; growth throughout the EU has been slightly better than in the euro area and is projected to remain slightly better for the foreseeable future. Relatively new member states such as Romania and Czechia, which have not yet adopted the euro, reported the highest annual growth rates in the EU in 2015, and generally, new member states show slightly better growth rates. Also, unemployment has been slightly higher in the euro area compared to the EU for the last ten years (267906). The unemployment rate also remains relatively high for both the EU and the euro area. As for public spending as a share of GDP, these figures are slightly higher in the euro area than in the EU as a whole. The member states with the highest national debt include the United Kingdom, Italy, France and Germany - some of the oldest members of the euro area. The national debt of the euro area is slightly higher than the national debt of the EU as a whole, underlining the economic situation of both areas.

This indicator measures the share of GDP that is used for investment activities in the government, business and household sectors. It is defined as gross fixed capital formation (GFCF) expressed as a percentage of GDP. Gross fixed capital formation consists of resident producers’ investments, deducting disposals, in fixed assets during a given period. It also includes certain additions to the value of non-produced assets realized by producers or institutional units. Fixed assets are tangible or intangible assets produced as outputs from production processes that are used repeatedly, or continuously, for more than one year.

This table contains information of the Regional accounts. Regional accounts give a description of the economic process in the regions of a country in conformity with the national accounts. Elements in the economic process distinguished in national accounts are production, distribution of income, spending and financing. Regional accounts focus on the description of the production processes in the various regions. The new Standard Industrial Classification 2008 (SIC 2008) is used in the National and Regional Accounts of the Netherlands. This code is based on the European classification Nomenclature générale des Activités économiques dans la Communauté Européenne (NACE Rev. 2) which is used in all Member States of the European Union. Data available from: 1996 Status of the figures: The figures of year 1996 up to and including 2020 are final and of the years 2021 and 2022 are provisional. Changes as of April 25th 2023: The flash estimation of the provisional year 2022 is added. When will new figures be published? In November 2023 the final figures of the year 2021 and the provisional figures of the year 2022 are available.

Historical dataset showing European Union gdp growth rate by year from 1961 to 2023.

This statistic shows gross domestic product (GDP) of the European Union from 2020 to 2030 in billion international dollars. In 2024, the EU's GDP amounted to about 19.41 trillion U.S. dollars. Brexit and the economy of the European Union The European Union is still recovering from the crisis in 2008, but it is by no means making an impressive comeback and 2016 has not started out on the right foot either. Total GDP of the European Union staggered in 2012 and even moreso in 2015. Recent events are also bound to reduce consumer confidence and drag down growth. The year began with the economic slowdown in China and has continued on with the United Kingdom’s decision to leave the European Union. The long term effects this decision is expected to have have an overall negative effect on GDP growth within the European Union. However, the effects will likely hit the UK and Ireland more so. By 2030, it is expected that the GDP growth of the European Union will be negative at around minus 0.36 percent. Even considering an optimistic scenario, GDP of the UK is expected to decrease by 2.72 percent by 2030, as well - a pessimistic forecast even reducing GDP growth to a 7.7 percent decrease. Yet, it is still too early to tell how Brexit will play out in reality, but it will almost certainly impact current future projections of GDP growth in the European Union and the Euro Area.

This statistic shows the growth of the real gross domestic product (GDP) in the Euro area from the second quarter 2020 to the second quarter 2025. In the second quarter of 2025, the GDP of the Euro area increased by 1.5 percent compared to the same quarter of the previous year.

The non-financial Annual Sector Accounts (ASA) are compiled in accordance with the European System of Accounts (ESA 2010) and are transmitted by the EU Member States, EFTA Members (except Liechtenstein) following ESA2010 transmission programme (Table 8) established by the Regulation (EU) No 549/2013 of the European Parliament and of the Council of 21 May 2013 on the European system of national and regional accounts in the European Union, annexes A and B respectively).

The ASA encompass non-financial accounts that provide a description of the different stages of the economic process: production, generation of income, distribution of income, redistribution of income, use of income and non-financial accumulation. The ASA record the economic flows of institutional sectors in order to illustrate their economic behaviour and interactions between them. They also provide a list of balancing items that have high analytical value in their own right: value added, operating surplus and mixed income, balance of primary incomes, disposable income, saving, net lending / net borrowing. All of them but net lending / net borrowing, can be expressed in gross or net terms, i.e. with and without consumption of fixed capital that accounts for the use and obsolescence of fixed assets.

In terms of institutional sectors, a broad distinction is made between the domestic economy (ESA 2010 classification code S.1) and the rest of the world (S.2). Within S.1 and S.2, in turn, more detailed subsectors are distinguished as explained in more detail in section "3.2 Classification system".

Data are presented in the table "Non-financial transactions" (nasa_10_nf_tr).

The table contains data, as far as they are available, expressed in national currency and millions of euro in current prices.

In line with ESA2010 Transmission programme requirements data series start from 1995 (unless subject to voluntary transmission option and/or country specific derogations). Countries may transmit longer series on voluntary basis.

Available level of detail by sectors and transactions may also vary by country due to voluntary transmission of some items (as defined in ESA2010 transmission programme) and country specific derogations.

ASA collected according ESA2010 Transmission programme include selected data on employment (in persons and hours worked) by institutional sectors. However, as transmission of these variables is voluntary (except for the sector of General government), data availability may vary significantly across countries.

A set of key indicators, deemed meaningful for economic analysis, is available in the table "Key indicators" (nasa_10_ki) for most of the members of the European Economic Area (EEA), of the Euro area and EU.

Key ratios are derived from non-financial transactions as follows:

• Gross household saving rate (S.14_S.15): B8G/(B6G+D8rec-D8pay)*100;
• Gross investment rate of households (S.14_S.15): P51G/(B6G+D8rec-D8pay)*100;
• Gross investment rate of non-financial corporations (S.11): P51G/B1G*100;
• Gross profit share of non-financial corporations (S.11): B2G_B3G/B1G*100;
• Total investment to GDP ratio (S.1): P51G/B1GQ*100;
• Business investment to GDP ratio: (S.11_P51G+S.12_P51G)/B1GQ*100;
• Government investment to GDP ratio: S.13_P51G/B1GQ*100;
• Households investment to GDP ratio: (S.14_S.15_P51G)/B1GQ*100.

With the following transaction codes:

• B8G - Gross saving;
• B6G - Gross disposable income;
• D8rec / D8pay - the adjustment for the change in pension entitlements (receivable / payable);
• P51G - Gross fixed capital formation;
• B1G - Gross value added;
• B1GQ – Gross domestic product;
• B2G_B3G - Gross operating surplus/ mixed income.

In the above, all ratios are expressed in gross terms, i.e. before deduction of consumption of fixed capital.

The following key indicators are calculated in real or nominal terms:

• Real growth of household adjusted disposable income per capita (percentage change on previous period, S.14_S.15): B7G/(POP_NC*Price Deflator);
• Nominal growth of household adjusted disposable income per capita (percentage change on previous period, S.14_S.15): B7G/(POP_NC);
• Real growth of household actual consumption per capita (percentage change on previous period, S.14_S.15): P4/(POP_NC*Price Deflator).

With the following codes (the codes already described above have not been listed):

• B7G - Gross adjusted gross disposable income (adjusted for social transfers in kind);
• P4 - Actual final consumption (adjusted for social transfers in kind);
• POP_NC - Total population national concept (source:Quarterly national accounts, Eurobase domain namq_10_pe);
• Price deflator - Price index/implicit deflator calculated as CP_MEUR/CLV10_MEUR – both indicators refer to households and NPISH final consumption expenditure (P31_S14_S15) (source: Quarterly national accounts, Eurobase domain namq_10_gdp).

The following key indicators combine non-financial with financial accounts:

• Gross return on capital employed, before taxes, of non-financial corporations (S.11): [B2G_B3G/(AF2+AF3+AF4+AF5, liab)]*100;
• Net debt-to-income ratio, after taxes, of non-financial corporations (S.11): ([(AF2+AF3+AF4, liab)/(B4N-D5pay)]*100);
• Net return on equity, after taxes, of non-financial corporations (S.11): [(B4N-D5pay)/(AF5, liab)]*100
• Gross debt-to-income ratio of households (S.14_15): [(AF4, liab)/(B6G+D8net)]*100;
• Household net financial assets ratio (BF90/(B6G+D8net)).

With the following codes (the codes already described above have not been listed):

• B4N - Net entrepreneurial income;
• D5pay - Current taxes on income and wealth;
• AF2 - Currency and deposits;
• AF3 - Debt securities (excluding financial derivatives);
• AF4 - Loans;
• AF5 - Equity and investment fund shares;
• BF90 – Financial net worth.

"rec" means resources, that is transactions that add to the economic value of a given sector.

"pay" means "uses", that is transactions that reduce the economic value of a given sector.

"liab" refers to the stock of liabilities incurred by a given sector and recorded in the financial balance sheets.

See also the sector accounts dedicated website for more information.

In this paper the authors conduct a meta-analysis to examine the link between R&D spending and economic growth in the EU and other regions. The results suggest that the growth-enhancing effect of R&D in the EU15 countries does not differ from that in other countries in general, but it is less significant than that for other industrialized countries. A closer inspection of the data reveals that the weak results for the EU15 stem from comparisons with the US – the US has been able to generate a stronger growth response from its R&D spending. Possible explanations for the US advantage include higher private sector investment in R&D and stronger public-private sector linkages than in the EU. Hence, to reduce the “innovation gap” vis-à-vis the US, it may not be enough for the EU to raise the share of R&D expenditures in GDP: continuous improvements in the European innovation system will also be needed, with focus on areas like private sector R&D and public-private sector linkages.

The dataset contains GDP growth data for 15+ European Countries, spanning from 1960 to 2023. The indicator name is GDP (current US$), and the corresponding indicator code is NY.GDP.MKTP.CD.

This dataset is made possible with Collaboration of @Batros Jamali

The average for 2025 based on 43 countries was 1.92 percent. The highest value was in Malta: 3.9 percent and the lowest value was in Austria: -0.26 percent. The indicator is available from 1980 to 2030. Below is a chart for all countries where data are available.

This paper investigates very long-run preindustrial economic development. New annual GDP per capita data for six European countries over the last seven hundred years paint a clearer picture of the history of European economic development. We confirm that sustained growth has been a recent phenomenon, but reject the argument that there was no long-run growth in living standards before the Industrial Revolution. Instead, the evidence demonstrates the existence of numerous periods of economic growth before the nineteenth century—periods of unsustained, but raising GDP per capita. We also show that many of the economies experienced substantial economic decline. Thus, rather than being stagnant, pre-nineteenth century European economies experienced a great deal of change. Finally, we offer some evidence that, from the nineteenth century, these economies increased the likelihood of being in a phase of economic growth and reduced the risk of being in a phase of economic decline.

Graph and download economic data for Real Gross Domestic Product (Euro/ECU Series) for Euro Area (19 Countries) (CLVMEURSCAB1GQEA19) from Q1 1995 to Q2 2025 about Euro Area, Europe, real, and GDP.

European Union Exports: Growth Rate: YoY data was reported at 7.000 % in Feb 2025. This records an increase from the previous number of 4.500 % for Jan 2025. European Union Exports: Growth Rate: YoY data is updated monthly, averaging 5.200 % from Jan 2003 (Median) to Feb 2025, with 266 observations. The data reached an all-time high of 43.300 % in Apr 2021 and a record low of -29.800 % in May 2020. European Union Exports: Growth Rate: YoY data remains active status in CEIC and is reported by Eurostat. The data is categorized under Global Database’s European Union – Table EU.JA001: Eurostat: Trade Statistics: By BEC.

Sampling Procedure Comment: Probability Sample: Multistage Stratified Random Sample