The economy of the European Union is set to grow by *** percent in 2025, 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 2025, 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.

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.

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.

European Union gdp growth rate for 2023 was 0.43%, a 3.07% decline from 2022.

<ul style='margin-top:20px;'>

<li>European Union gdp growth rate for 2022 was <strong>3.50%</strong>, a <strong>2.86% decline</strong> from 2021.</li>
<li>European Union gdp growth rate for 2021 was <strong>6.36%</strong>, a <strong>11.93% increase</strong> from 2020.</li>
<li>European Union gdp growth rate for 2020 was <strong>-5.58%</strong>, a <strong>7.45% decline</strong> from 2019.</li>
</ul>Annual percentage growth rate of GDP at market prices based on constant local currency. Aggregates are based on constant 2010 U.S. dollars. GDP is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources.

The statistic shows the growth of the real gross domestic product (GDP) in the EU member states in the second quarter 2024 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 2024, the real GDP in Denmark increased by 2.5 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.

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.

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 2019 to 2023, with projections up until 2029. 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 2022, the GDP in the European Union increased by about 3.61 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.

The real gross domestic product (GDP) of Malta is estimated to have grown by *** percent in 2023 and is projected to grow a further **** percent in 2024, which are the highest growth rates across all European countries for each year. In comparison, Estonia, Austria, Finland, and Ireland all had *************** rates in 2023.

European Union - Real GDP growth rate was 1.00% in December of 2024, according to the EUROSTAT. Trading Economics provides the current actual value, an historical data chart and related indicators for European Union - Real GDP growth rate - last updated from the EUROSTAT on July of 2025. Historically, European Union - Real GDP growth rate reached a record high of 6.30% in December of 2021 and a record low of -5.60% in December of 2020.

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

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.

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.

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 years 1996 to 2022 are final, from the year 2023 onwards is provisional.

Changes as of 24 April 2025: The flash estimate for the reporting year 2024 has been added.

Changes as of December 9th 2024: This is a new table. Statistics Netherlands has carried out a revision of the national accounts. The Dutch national accounts are recently revised. New statistical sources, methods and concepts are implemented in the national accounts, in order to align the picture of the Dutch economy with all underlying source data and international guidelines for the compilation of the national accounts. This table contains revised data. For further information see section 3.

When will new figures be published? The final figures for 2023 will be added in December 2025.

This table contents 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 up to and including 2017.

Status of the figures: Data from 1996 up to and including 2015 are final. Data of 2016 and 2017 are provicional. Since this table has been discontinued, data of 2016 and 2017 will not become final.

Changes as of November 23rd, 2018: None. This table has been discontinued. Statistics Netherlands has carried out a revision of the national accounts. New statistical sources and estimation methods have been used during the revision. Therefore this table has replaced by table Economic growth, GDP and value added by region; national accounts. For further information see section 3.

When will new figures be published? Not applicable anymore.

GDP Growth Annualized in European Union increased to 2.20 percent in the first quarter of 2025 from 1.60 percent in the fourth quarter of 2024. This dataset provides - European Union Gdp Growth Annualized- actual values, historical data, forecast, chart, statistics, economic calendar and news.

The Gross Domestic Product (GDP) In the Euro Area expanded 1.50 percent in the first quarter of 2025 over the same quarter of the previous year. This dataset provides - Euro Area GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

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 2021 are final and the figures of the years 2022 and 2023 are provisional. Since this table has been discontinued, data of 2022 and 2023 will not become final.

Changes as of December 9th 2024: None. This table has been discontinued. Statistics Netherlands has carried out a revision of the national accounts. The Dutch national accounts are recently revised. New statistical sources, methods and concepts are implemented in the national accounts, in order to align the picture of the Dutch economy with all underlying source data and international guidelines for the compilation of the national accounts. For further information see section 3.

When will new figures be published? Not applicable anymore.

Full Year GDP Growth In the Euro Area increased to 0.90 percent in 2024 from 0.40 percent in 2023. This dataset includes a chart with historical data for Euro Area Full Year GDP Growth.

Across the United States, the United Kingdom, Germany, and the European Union, gross domestic products (GDP) decreased in 2020 as a result of the COVID-19 pandemic. However, by 2021, growth rates were positive in all four areas again. The United Kingdom, Germany, and the European Union all experiencing slow economic growth in 2023 amid high inflation, with Germany even seeing an economic recession. GDP and its components GDP refers to the total market value of all goods and services that are produced within a country per year. It is composed of government spending, consumption, business investments and net exports. It is an important indicator to measure the economic strength of a country. Economists rely on a variety of factors when predicting the future performance of the GDP. Inflation rate is one of the economic indicators providing insight into the future behavior of households, which make up a significant proportion of GDP. Projections are based on the past performance of such information. Future considerations Some factors can be more easily predicted than others. For example, projections of the annual inflation rate of the United States are easy to come by. However, the intensity and impact of something like Brexit is difficult to predict. Moreover, the occurrence and impact of events such as the COVID-19 pandemic and Russia's war in Ukraine is difficult to foresee. Hence, actual GDP growth may be higher or lower than the original estimates.