With a Gross Domestic Product of over 4.3 trillion Euros, the German economy was by far the largest in Europe in 2024. The similarly sized economies of the United Kingdom and France were the second and third largest economies in Europe during this year, followed by Italy and Spain. The smallest economy in this statistic is that of the small Balkan nation of Montenegro, which had a GDP of 7.4 billion Euros. In this year, the combined GDP of the 27 member states that compose the European Union amounted to approximately 17.95 trillion Euros. The big five Germany’s economy has consistently had the largest economy in Europe since 1980, even before the reunification of West and East Germany. The United Kingdom, by contrast, has had mixed fortunes during the same period and had a smaller economy than Italy in the late 1980s. The UK also suffered more than the other major economies during the recession of the late 2000s, meaning the French economy was the second largest on the continent for some time afterward. The Spanish economy was continually the fifth-largest in Europe in this 38-year period, and from 2004 onwards, has been worth more than one trillion Euros. The smallest GDP, the highest economic growth in Europe Despite having the smallerst GDP of Europe, Montenegro emerged as the fastest growing economy in the continent, achieving an impressive annual growth rate of 4.5 percent, surpassing Turkey's growth rate of 4 percent. Overall,this Balkan nation has shown a remarkable economic recovery since the 2010 financial crisis, with its GDP projected to grow by 28.71 percent between 2024 and 2029. Contributing to this positive trend are successful tourism seasons in recent years, along with increased private consumption and rising imports. Europe's economic stagnation Malta, Albania, Iceland, and Croatia were among the countries reporting some of the highest growth rates this year. However, Europe's overall performance reflected a general slowdown in growth compared to the trend seen in 2021, during the post-pandemic recovery. Estonia experienced the sharpest negative growth in 2023, with its economy shrinking by 2.3% compared to 2022, primarily due to the negative impact of sanctions placed on its large neighbor, Russia. Other nations, including Sweden, Germany, and Finland, also recorded slight negative growth.

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.

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.

This dataset provides values for GDP 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 average for 2024 based on 42 countries was 40186.68 U.S. dollars. The highest value was in Luxembourg: 137516.59 U.S. dollars and the lowest value was in Ukraine: 5389.47 U.S. dollars. The indicator is available from 1960 to 2024. Below is a chart for all countries where data are available.

Germany is the country in the European Union which collects the greatest tax revenues each year, with Europe's largest economy collecting almost 1.6 trillion euros in taxes and social security contributions in 2023. France and Italy are the second and third largest tax collectors in terms of revenues in the EU, however, the gap between the two countries had been growing since 2009, as the stagnation of the Italian economy in the past 15 years has limited increases in tax revenues.

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.

Graph and download economic data for Gross Domestic Product Deflator for the European Union (NAGIGP01EUQ661S) from Q1 1995 to Q4 2019 about EU, Europe, and GDP.

In 1938, the year before the Second World War, the United States had, by far, the largest economy in the world in terms of gross domestic product (GDP). The five Allied Great Powers that emerged victorious from the war, along with the three Axis Tripartite Pact countries that were ultimately defeated made up the eight largest independent economies in 1938.

When values are converted into 1990 international dollars, the U.S. GDP was over 800 billion dollars in 1938, which was more than double that of the second largest economy, the Soviet Union. Even the combined economies of the UK, its dominions, and colonies had a value of just over 680 billion 1990 dollars, showing that the United States had established itself as the world's leading economy during the interwar period (despite the Great Depression).

Interestingly, the British and Dutch colonies had larger combined GDPs than their respective metropoles, which was a key motivator for the Japanese invasion of these territories in East Asia during the war. Trade with neutral and non-belligerent countries also contributed greatly to the economic development of Allied and Axis powers throughout the war; for example, natural resources from Latin America were essential to the American war effort, while German manufacturing was often dependent on Swedish iron supplies.

The focus of this domain is on the European Neighbourhood Policy (ENP) countries on the southern and eastern shores of the Mediterranean (ENP-South), namely:

• Algeria (DZ),
• Egypt (EG),
• Israel (IL),
• Jordan (JO),
• Lebanon (LB),
• Libya (LY),
• Morocco (MA),
• Palestine (PS) (¹),
• Syria (SY) and
• Tunisia (TN).

An extensive range of indicators is presented in this domain, including indicators from almost every theme covered by European statistics. Only annual data are published in this domain.

The data and their denomination in no way constitute the expression of an opinion by the European Commission on the legal status of a country or territory or on the delimitation of its borders.

Data supplied by and under the responsibility of the national statistical authorities of each of the countries or territories.

(¹) This designation shall not be construed as recognition of a State of Palestine and is without prejudice to the individual positions of the Member States on this issue.

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

The introduction of a statutory minimum wage in Germany in 2015 aimed at improving the welfare of low-wage workers but was also accompanied by concerns about distortions in Europe’s largest economy. This paper provides a comprehensive survey of results from the evaluation of the German minimum wage by compiling recent descriptive evidence and a systematic literature review on causal effects through 2020. On 1 October 2022, the minimum wage was raised legislatively by 15 percent to 12 euros per hour, which affected approximately 5.8 million employees and 23 percent of companies. The war in Ukraine and the coronavirus pandemic hit minimum wage workers and minimum wage firms harder than the rest of the economy. The minimum wage thus far had the strongest causal ef-fects directly after its introduction. Hourly wages increased, while working hours decreased, resulting in mixed effects on monthly wages. Overall employment fell slightly, with a decline in marginal employment in particular. Companies’ wage costs increased, and as productivity did not change, profits declined.

Europe Creator Economy Market is estimated to reach USD 112.4 Bn By 2034, Strong 22.9% CAGR, highlighting opportunities for investment.

Key information about European Union Foreign Exchange Reserves: % of GDP

• European Union Foreign Exchange Reserves: % of GDP was reported at 1.750 % in Jun 2025
• This records a decrease from the previous number of 1.846 % for Mar 2025
• EU Foreign Exchange Reserves: % of GDP data is updated quarterly, averaging 1.705 % from Dec 1999 to Jun 2025, with 103 observations
• The data reached an all-time high of 3.696 % in Sep 2000 and a record low of 1.423 % in Sep 2009
• EU Foreign Exchange Reserves: % of GDP 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: Foreign Exchange Reserves: % of Nominal GDP: Quarterly

Graph and download economic data for Gross Domestic Product by Expenditure in Constant Prices: Exports of Goods and Services for the European Union (NAEXKP06EUA657S) from 1996 to 2019 about EU, Europe, exports, goods, services, real, and GDP.

List of Top Institutions of Journal of European Economy sorted by citations.

In Europe Creator Economy Market is projected to grow from USD 38.5 billion in 2025 to USD 112.7 billion by 2031, at a CAGR of 19.7%

Europe Creator Economy Market valued at US$ 32.84 Bn in 2025, is anticipated to reaching US$ 157.27 Bn by 2032, with a steady annual growth rate of 25.1%.

National accounts are a coherent and consistent set of macroeconomic indicators, which provide an overall picture of the economic situation and are widely used for economic analysis and forecasting, policy design and policy making.

Annual national accounts are compiled in accordance with the European System of Accounts - ESA 2010 as defined in Annex B of the Council Regulation (EU) No 549/2013 of the European Parliament and of the Council of 21 May 2013, amended by Council Regulation (EU) 2023/734 of 15 March 2023.

Gross domestic product (GDP) is one of the key aggregates in the European system of accounts (ESA). GDP is a measure of the total economic activity taking place on an economic territory which leads to output meeting the final demands of the economy.

There are three ways of measuring GDP at market prices:

1. the production approach, as the sum of the values added by all activities which produce goods and services, plus taxes less subsidies on products;
2. the expenditure approach, as the total of all final expenditures made in either consuming the final output of the economy, or in adding to wealth, plus exports less imports of goods and services;
3. the income approach, as the total of all incomes earned in the process of producing goods and services plus taxes on production and imports less subsidies.

Data published in the following tables reflect these 3 approaches.

Breakdowns provided are based on the ESA Transmission Programme, which list all tables requested from the countries.

The annual tables under this collection are the following:

• nama_10_gdp GDP and main components (output, expenditure and income)
• nama_10_pc Main GDP aggregates per capita
• nama_10_a10 Gross value added and income components by A*10 industry
• nama_10_a64 Gross value added and income components by A*64 industry

Geographical entities covered are the European Union, the euro area, EU Member States, EFTA countries and Candidate Countries. Data from other countries (e.g. US, Japan and other countries) are received via the OECD and IMF and published in Eurobase in the naid_10 collection.

Data sources: National Statistical Institutes, Eurostat (for European aggregates).

European Union recorded a Current Account surplus of 2.50 percent of the country's Gross Domestic Product in 2024. This dataset provides - European Union Current Account to GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.