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.

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 European Union is comprised of 27 member states who share the European Single Market, a common trade area which ensures the free movement of goods, services, capital, and people. As of 2024, the largest economies in the EU were Germany, France, Italy, Spain, and the Netherlands, with these countries making up the vast majority of the EU's almost 17 trillion Euro GDP. The relatively small island member states of Cyprus and Malta come in at the bottom of the list, with GDPs of around 23 and 33 billion Euros respectively.

This dataset provides values for GDP PER CAPITA PPP0 reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

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

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.

The average for 2023 based on 44 countries was 44137.65 U.S. dollars. The highest value was in Monaco: 256580.52 U.S. dollars and the lowest value was in Ukraine: 5069.7 U.S. dollars. The indicator is available from 1960 to 2023. Below is a chart for all countries where data are available.

Gross domestic product (GDP) per capita is a measure of economic production, which takes the entire output of a national economy during a year and divides it by the population of that country. In the European Union, Luxembourg, Ireland, Denmark, the Netherlands, and Austria come out on top as the countries which produced the most per capita in 2024. Europe's richest countries benefit from multinational companies Many criticisms have been made of using GDP per capita as away to judge a country's economic wealth in recent years, as global capital flows have come to distort the statistics and to give a warped impression of different countries' wealth. This is most notably the case for Ireland and for Luxembourg, which while certainly high-income countries, have experienced dramatic booms in their GDP over the past two decades due to the accounting practices of the large multinational corporations which have their European headquarters in these member states, such as Facebook and Apple in Dublin, and Amazon in Luxembourg. Will the poorest countries converge towards the EU average? At the bottom of the list, two of the most recent member states of the EU, Romania and Bulgaria, come last in terms of GDP per capita. Whether these countries will be able to capitalize on their relatively low-wages to spur economic growth and experience the convergence towards the older member states of the union shown by countries such as Estonia, Czechia, and Lithuania, remains a pressing issue for these poorer member states.

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 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.

Historical chart and dataset showing European Union GDP per capita by year from 1960 to 2023.

Graph and download economic data for Real Gross Domestic Product for European Union (28 Countries) (CLVMNACSCAB1GQEU28) from Q1 1995 to Q4 2019 about EU, Europe, real, and GDP.

Key information about European Union GDP Per Capita

• European Union Gross Domestic Product (GDP) per Capita reached 38,454.191 USD in Dec 2021, compared with 34,402.825 USD in Dec 2020.
• EU GDP Per Capita data is updated yearly, available from Dec 1999 to Dec 2021, with an average number of 33,135.176 USD.
• The data reached an all-time high of 38,454.191 USD in Dec 2021 and a record low of 16,892.743 in Dec 2000.
• CEIC calculates GDP per Capita from quarterly Nominal GDP and annual Population and converts it into USD. Eurostat provides Nominal GDP in EUR and Population. Federal Reserve Board average market exchange rate is used for currency conversions. European Union stands for EU27 excluding UK.

• In the latest reports, EU GDP expanded 1.264 % YoY in Mar 2023.
• EU Nominal GDP reached 4,140.452 USD bn in Dec 2022.
• Its GDP deflator (implicit price deflator) increased 6.144 % in Dec 2022.
• Gross Savings Rate of EU was measured at 25.835 % in Dec 2022.

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.

Key information about European Union Nominal GDP

• European Union Nominal GDP reached 4,141.8 USD bn in Dec 2022, compared with 4,002.8 USD bn in the previous quarter.
• Nominal GDP in EU is updated quarterly, available from Mar 1999 to Dec 2022, with an average number of 3,579.7 USD bn.
• The data reached an all-time high of 4,357.5 USD bn in Jun 2008 and a record low of 1,739.3 USD bn in Dec 2000.

• In the latest reports, EU GDP expanded 1.7 % YoY in Dec 2022.
• Its GDP deflator (implicit price deflator) increased 6.2 % in Dec 2022.
• EU GDP Per Capita reached 38,451.0 USD in Dec 2021.
• Its Gross Savings Rate was measured at 26.0 % in Dec 2022.
• For Nominal GDP contributions, Investment accounted for 24.3 % in Dec 2022.
• Public Consumption accounted for 22.2 % in Dec 2022.
• Private Consumption accounted for 51.8 % in Dec 2022.

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 information on the Real GDP per capita for 30 countries and regions across Europe, from 1995 to 2023. The dataset includes real GDP per capita data, which is adjusted for inflation (constant prices), allowing comparisons over time across different countries. This data is critical for economic analysis, providing insights into the economic performance and living standards in these countries and regions.

Countries included are:

• Austria (AT)
• Belgium (BE)
• Bulgaria (BG)
• Cyprus (CY)
• Czech Republic (CZ)
• Germany (DE)
• Denmark (DK)
• Euro Area (EA20) – The 20 countries using the euro
• Estonia (EE)
• Greece (EL)
• Spain (ES)
• European Union 27 (EU27_2020) – EU countries excluding the UK (post-Brexit)
• Finland (FI)
• France (FR)
• Croatia (HR)
• Hungary (HU)
• Ireland (IE)
• Italy (IT)
• Lithuania (LT)
• Luxembourg (LU)
• Latvia (LV)
• Malta (MT)
• Netherlands (NL)
• Poland (PL)
• Portugal (PT)
• Romania (RO)
• Sweden (SE)
• Slovenia (SI)
• Slovakia (SK)

Source:

• Eurostat API (via Python Eurostat library)

Time Period:

• 1995 - 2023

Year:

• The year of the data (1995 to 2023)

Usage:

• This dataset is suitable for economic research, data analysis, and forecasting. It can be used to study trends in economic growth, compare the performance of different European economies, and examine the effects of historical events on national GDP.

Country, regional and world GDP in current US Dollars ($). Regional means collections of countries e.g. Europe & Central Asia. Data is sourced from the World Bank and turned into a standard normalized CSV.

Graph and download economic data for Gross Domestic Product for Euro Area (19 Countries) (CPMNACNSAB1GQEA19) from Q1 1995 to Q1 2025 about Euro Area, Europe, and GDP.

As of 2025, there are **** official candidate countries for membership in the European Union, as well as Kosovo identified by the European Commission as a potential future candidate. A key element of the Copenhagen Criteria - the conditions which must be fulfilled to join the EU - is the existence of a functioning market economy in the candidate country, with the ability of the country to handle the strong competition and economic pressures which come with joining the European Single Market. While the political and administrative/institutional criteria have been considered the key stumbling block which has prevented the current candidate countries from progressing towards full membership, the current state of the economies of candidate countries is also a cause for concern. According to the most recently available data, all candidate countries have lower GDP per capita than even the poorest EU member state, Bulgaria. Ukraine, the newest candidate country, which was granted candidate status by the EU in response to Russia's invasion of the country in 2022, is the poorest candidate country, as measured by GDP per capita. This represents a serious issue, as the EU has never incorporated a country which is so far from the average economic standards of the Union. On the other hand, the chance to join the EU could provide an economic boost to Ukraine, or any other candidate country, as can be seen with the fast rising GDP per capita of countries which have joined the EU since 2004, such as Czechia, Hungary, and Poland.