This statistic displays the nominal gross domestic product of selected European Union member countries as of 2015. The data shows that the GDP of the European Union exceeded **** billion U.S. dollars, a large contributor of that wealth came from the United Kingdom (UK). This statistic shows that without the UK the EU looses and approximate equivalent of * trillion US dollars, this is equal to **** percent of the EU's GDP.

In 2024 the gross domestic product of the European Union amounted to approximately 17.9 trillion euros. GDP is the total value of all goods and services produced in a country within a year. It is an important indicator of the economic strength of a country. The financial crisis and its aftermath The European Union is a union made up of 27 states located within and around Europe, including several of the world’s largest economies. Since its inception in 1993, the European Union has displayed the benefits of uniting several countries together, however have also showed possible consequences. The majority of European countries felt the aftermath of the 2008 global financial crisis and afterwards the Eurozone crisis, which has had a severe and continuous effect on the general European economy. Additionally, due to the close association between all the countries, several banks around different European countries were forced to shut down. A generally lower standard of life in the EU, particularly around 2009 during the prime of both economical disasters, led to doubt and uncertainty about the future of many European families and consumers. However, as the economic situation all around the world slowly improved, so did the outlook on the future for most consumers. Struggles around Europe resulted in a larger need to stimulate the economy, which was only possible by borrowing and spending more money. As a result, national debt soared. It was also necessary for more economically successful countries to help finance countries that were deep in the crisis, such as Greece.

The Gross Domestic Product (GDP) in European Union expanded 1.60 percent in the first quarter of 2025 over the same quarter of the previous year. This dataset provides the latest reported value for - European Union GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

European Union GDP Deflator: swda: EU 27 excl UK data was reported at 105.638 2015=100 in Dec 2019. This records an increase from the previous number of 105.016 2015=100 for Sep 2019. European Union GDP Deflator: swda: EU 27 excl UK data is updated quarterly, averaging 90.786 2015=100 from Mar 1995 (Median) to Dec 2019, with 100 observations. The data reached an all-time high of 105.638 2015=100 in Dec 2019 and a record low of 71.011 2015=100 in Mar 1995. European Union GDP Deflator: swda: EU 27 excl UK data remains active status in CEIC and is reported by Eurostat. The data is categorized under Global Database’s European Union – Table EU.A018: ESA 2010: Eurostat: GDP: Deflator: Current Price: 2015=100.

Key information about EU GDP Deflator Growth

• European Union GDP deflator (implicit price deflator) increased 6.1 % in Dec 2022, compared with an increase of 5.1 % in the previous quarter.
• EU GDP Deflator Growth data is updated quarterly, available from Mar 1996 to Dec 2022, with an average rate of 1.7 %.
• The data reached an all-time high of 6.1 % in Dec 2022 and a record low of -0.6 % in Sep 2009.

• In the latest reports, European Union GDP expanded 1.3 % YoY in Mar 2023.
• Its Nominal GDP reached 4,140.5 USD bn in Dec 2022.
• EU GDP Per Capita reached 38,454.2 USD in Dec 2021.
• Its Gross Savings Rate was measured at 25.8 % in Dec 2022.

Graph and download economic data for Central government debt, total (% of GDP) for the European Union (GCDODTOTLGDZSEUU) from 1991 to 2015 about EU, Europe, debt, government, and GDP.

In 2023, the gross domestic product in the European Union grew by 0.8 percent, as economic stagnation and high inflation caused by the Russia-Ukraine war impacted European economies. The European Commission forecasts that the European economy will have grown by 0.9 percent in 2024, continuing the trend registered in the previous year. This represents slow economic growth after the post-pandemic resurgence, yet avoids the recession many commentators warned the EU might slip into. Growth is forecast to increase again in 2025, climbing to 1.5 percent—a figure considered low by historical EU standards, excluding periods of economic crisis.

Key information about European Union Real GDP Growth

• The Gross Domestic Product (GDP) in European Union expanded 1.3 % YoY in Mar 2023, following a growth of 1.7 % in the previous quarter.
• Real GDP Growth YoY data in EU is updated quarterly, available from Mar 1996 to Mar 2023, with an average rate of 2.0 %.
• The data reached an all-time high of 13.8 % in Jun 2021 and a record low of -13.4 % in Jun 2020.

• In the latest reports, Nominal GDP of EU reached 4,140.5 USD bn in Dec 2022.
• Its GDP deflator (implicit price deflator) increased 6.1 % in Dec 2022.
• GDP Per Capita in EU reached 38,454.2 USD in Dec 2021.
• Its Gross Savings Rate was measured at 25.8 % in Dec 2022.
• For Nominal GDP contributions, Investment accounted for 24.2 % in Dec 2022.
• Public Consumption accounted for 22.3 % in Dec 2022.
• Private Consumption accounted for 51.9 % in Dec 2022.

Graph and download economic data for Gross Domestic Product Deflator for the European Union (NAGIGP01EUA661S) from 1995 to 2019 about EU, Europe, and GDP.

Graph and download economic data for Gross Domestic Product for Euro Area (EA11-1999, EA12-2001, EA13-2007, EA15-2008, EA16-2009, EA17-2011, EA18-2014, EA19-2015, EA20-2023) (CPMNACNSAB1GQEA) from Q1 1995 to Q1 2025 about Euro Area, Europe, and GDP.

Graph and download economic data for Gross Domestic Product by Expenditure in Constant Prices: Exports of Goods and Services for the European Union (NAEXKP06EUQ661S) from Q1 1995 to Q4 2019 about EU, exports, Europe, goods, services, real, and GDP.

The Gross Domestic Product (GDP) In the Euro Area expanded 0.60 percent in the first quarter of 2025 over the previous quarter. This dataset provides - Euro Area GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The Gross Domestic Product (GDP) in European Union expanded 0.60 percent in the first quarter of 2025 over the previous quarter. This dataset provides the latest reported value for - European Union GDP Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

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.

Graph and download economic data for Gross Domestic Product by Expenditure in Constant Prices: Less: Imports of Goods and Services for the European Union (NAEXKP07EUA661S) from 1995 to 2019 about EU, imports, Europe, goods, services, real, and GDP.

The Gross Domestic Product per capita in European Union was last recorded at 34859.60 US dollars in 2024. The GDP per Capita in European Union is equivalent to 276 percent of the world's average. This dataset provides the latest reported value for - European Union GDP Per Capita - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

EU27: DG ECFIN Forecast: Gross Domestic Product: Gross National Income: 2015 Price data was reported at 12,897.530 EUR bn in 2017. This records an increase from the previous number of 12,556.310 EUR bn for 2016. EU27: DG ECFIN Forecast: Gross Domestic Product: Gross National Income: 2015 Price data is updated yearly, averaging 11,463.520 EUR bn from Dec 1995 (Median) to 2017, with 23 observations. The data reached an all-time high of 12,897.530 EUR bn in 2017 and a record low of 8,865.280 EUR bn in 1995. EU27: DG ECFIN Forecast: Gross Domestic Product: Gross National Income: 2015 Price data remains active status in CEIC and is reported by European Commission's Directorate-General for Economic and Financial Affairs. The data is categorized under Global Database’s European Union – Table EU.DG ECFIN.AMECO: GDP: Gross National Income: 2015 Price: Forecast.

GDP per capita (constant 2015 US$) in European Union was reported at 34601 USD in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. European Union - GDP per capita (constant 2000 US$) - actual values, historical data, forecasts and projections were sourced from the World Bank on June of 2025.

European Union EU27: DG ECFIN Forecast: Gross Domestic Product (GDP): Potential: 2015p data was reported at 14,595.880 EUR bn in 2026. This records an increase from the previous number of 14,408.110 EUR bn for 2025. European Union EU27: DG ECFIN Forecast: Gross Domestic Product (GDP): Potential: 2015p data is updated yearly, averaging 12,288.885 EUR bn from Dec 2001 (Median) to 2026, with 26 observations. The data reached an all-time high of 14,595.880 EUR bn in 2026 and a record low of 10,236.900 EUR bn in 2001. European Union EU27: DG ECFIN Forecast: Gross Domestic Product (GDP): Potential: 2015p data remains active status in CEIC and is reported by European Commission's Directorate-General for Economic and Financial Affairs. The data is categorized under Global Database’s European Union – Table EU.DG ECFIN.AMECO: GDP: Potential and Trend: 2015 Price: Forecast.

Graph and download economic data for Gross Domestic Product by Expenditure in Constant Prices: Gross Fixed Capital Formation for the European Union (NAEXKP04EUA661S) from 1995 to 2019 about fixed capital formation, EU, fixed, capital, Europe, gross, real, and GDP.