The European Union is comprised of 27 member states with economies of varying sizes. In 2024, Germany, France, and Italy made up over half of the European economy's output. Roughly another quarter of the union's GDP was made up by the next five largest economies, Spain, the Netherlands, Poland, Sweden, and Belgium. The remaining 19 member states make up the rest of the EU's GDP, with around 20 percent collectively.

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

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 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 Gross Domestic Product (GDP) in European Union was worth 19423.32 billion US dollars in 2024, according to official data from the World Bank. The GDP value of European Union represents 18.29 percent of the world economy. This dataset provides the latest reported value for - European Union GDP - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

This table presents Gross Domestic Product (GDP) and its main components according to the expenditure approach. Data is presented in US dollars. In the expenditure approach, the components of GDP are: final consumption expenditure of households and non-profit institutions serving households (NPISH) plus final consumption expenditure of General Government plus gross fixed capital formation (or investment) plus net trade (exports minus imports).

When using the filters, please note that final consumption expenditure is shown separately for the Households/NPISH and General Government sectors, not for the whole economy. All other components of GDP are shown for the whole economy, not for the sector breakdowns.

The table shows OECD countries and some other economies, as well as the OECD total, G20, G7, OECD Europe, United States - Mexico - Canada Agreement (USMCA), European Union and euro area.

These indicators were presented in the previous dissemination system in the QNA dataset.
See User Guide on Quarterly National Accounts (QNA) in OECD Data Explorer: QNA User guide
See QNA Calendar for information on advance release dates: QNA Calendar
See QNA Changes for information on changes in methodology: QNA Changes
See QNA TIPS for a better use of QNA data: QNA TIPS
Explore also the GDP and non-financial accounts webpage: GDP and non-financial accounts webpage
OECD statistics contact: STAT.Contact@oecd.org

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.

Industry (including construction), value added (% of GDP) in European Union was reported at 22.14 % in 2024, according to the World Bank collection of development indicators, compiled from officially recognized sources. European Union - Industry, value added (% of GDP) - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2025.

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.

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

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.

European Union - GDP and main components: Gross domestic product at market prices was EUR3576888.70 Million in March of 2025, according to the EUROSTAT. Trading Economics provides the current actual value, an historical data chart and related indicators for European Union - GDP and main components: Gross domestic product at market prices - last updated from the EUROSTAT on June of 2025. Historically, European Union - GDP and main components: Gross domestic product at market prices reached a record high of EUR3576888.70 Million in March of 2025 and a record low of EUR2206107.80 Million in March of 1995.

European Union - GDP and main components: Final consumption expenditure, gross capital formation and exports of goods and services was EUR5290546.30 Million in March of 2025, according to the EUROSTAT. Trading Economics provides the current actual value, an historical data chart and related indicators for European Union - GDP and main components: Final consumption expenditure, gross capital formation and exports of goods and services - last updated from the EUROSTAT on June of 2025. Historically, European Union - GDP and main components: Final consumption expenditure, gross capital formation and exports of goods and services reached a record high of EUR5290546.30 Million in March of 2025 and a record low of EUR2744414.10 Million in March of 1996.

Germany GDP Nowcast: swda: YoY: Contribution: Trade Statistics: Imports: EU 27 excl UK (EU 27E) data was reported at 0.000 % in 12 May 2025. This stayed constant from the previous number of 0.000 % for 05 May 2025. Germany GDP Nowcast: swda: YoY: Contribution: Trade Statistics: Imports: EU 27 excl UK (EU 27E) data is updated weekly, averaging 0.000 % from Jan 2019 (Median) to 12 May 2025, with 332 observations. The data reached an all-time high of 0.597 % in 07 Apr 2025 and a record low of 0.000 % in 12 May 2025. Germany GDP Nowcast: swda: YoY: Contribution: Trade Statistics: Imports: EU 27 excl UK (EU 27E) data remains active status in CEIC and is reported by CEIC Data. The data is categorized under Global Database’s Germany – Table DE.CEIC.NC: CEIC Nowcast: Gross Domestic Product (GDP).

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.

Key information about European Union Private Consumption: % of GDP

• European Union Private Consumption accounted for 51.9 % of its Nominal GDP in Dec 2024, compared with a ratio of 53.2 % in the previous quarter.
• EU Private Consumption contribution to Nominal GDP ratio is updated quarterly, available from Mar 1995 to Dec 2024, with an average share of 55.2 %.
• The data reached an all-time high of 56.9 % in Mar 1997 and a record low of 50.0 % in Dec 2020.

• In the latest reports, EU GDP expanded 1.0 % YoY in Mar 2023.
• Its Nominal GDP reached 4,430.4 USD bn in Mar 2023.
• EU GDP Per Capita reached 38,468.8 USD in Dec 2021.
• Its Gross Savings Rate was measured at 25.7 % in Dec 2024.

European Union recorded a Government Debt to GDP of 81 percent of the country's Gross Domestic Product in 2024. This dataset provides - European Union Government Debt To GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The Gross Domestic Product (GDP) In the Euro Area was worth 16406.13 billion US dollars in 2024, according to official data from the World Bank. The GDP value of Euro Area represents 14.74 percent of the world economy. This dataset provides the latest reported value for - Euro Area GDP - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

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.

505 Economics is on a mission to make academic economics accessible. We've developed the first monthly sub-national GDP data for EU and UK regions from January 2015 onwards.

Our GDP dataset uses luminosity as a proxy for GDP. The brighter a place, the more economic activity that place tends to have.

We produce the data using high-resolution night time satellite imagery and Artificial Intelligence.

This builds on our academic research at the London School of Economics, and we're producing the dataset in collaboration with the European Space Agency BIC UK.

We have published peer-reviewed academic articles on the usage of luminosity as an accurate proxy for GDP.

Key features: - Frequent: Data is provided every month from January 2015. This is more frequent than quarterly official datasets. - Timely: Data is provided with a three week lag (i.e. the data for January 2021 was published at the end of February 2021). This is substantially quicker than the 3-6 month lag of official datasets. - Accurate: Our dataset uses Deep Learning to maximise accuracy (RMSE 1.2%).

The dataset can be used by:

• Financial services - to get an indication of national-level GDP before official GDP statistics are released
• Governments and policy makers - to monitor the performance of economies, to measure the impact of policies, and to get a real-time indication of economic activity.
• Engineering companies - to monitor and evaluate the national impact of infrastructure projects
• Consultancies - to forecast the national impact of specific projects, to retrospectively monitor and evaluate the localised impact of existing projects
• Economics firms - to create macro forecasts at the national, to assess the impact of policy interventions.
• Academia / Think Tanks - to conduct novel research with more-frequent GDP data than is available from official sources. E.g. our dataset can be used to measure the impact of localised COVID-19 lockdowns.

We have created this dataset for the UK, Switzerland and 28 EU Countries.