The Gross Domestic Product (GDP) in European Union contracted 4.60 percent in the fourth quarter of 2020 over the same quarter of the previous year. source: EUROSTAT

GDP Annual Growth Rate in European Union averaged 1.40 percent from 1996 until 2020, reaching an all time high of 4.50 percent in the second quarter of 2000 and a record low of -13.80 percent in the second quarter of 2020. This page 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 Annual Growth Rate - values, historical data and charts - was last updated on April of 2021.

GDP Annual Growth Rate in European Union is expected to be -4.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in European Union to stand at 4.90 in 12 months time. In the long-term, the European Union GDP Annual Growth Rate is projected to trend around 2.80 percent in 2022 and 2.20 percent in 2023, according to our econometric models.

Ok
Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.

API Features Documentation Interested? Click here to contact us
Please Paste this Code in your Website
width
height
 Preview
European Union GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
-4.60 -4.10 4.50 -13.80 1996 - 2020 percent Quarterly
SA

European Union GDP Last Previous Highest Lowest Unit
GDP Annual Growth Rate -4.60 -4.10 4.50 -13.80 percent [+]
GDP 15592.80 15932.00 16236.80 503.70 USD Billion [+]
Gross Fixed Capital Formation 686.62 678.42 747.50 444.86 EUR Billion [+]
GDP Constant Prices 3172.09 3188.09 3333.79 2188.04 EUR Billion [+]
GDP Growth Rate -0.50 11.60 11.60 -11.20 percent [+]
Gdp Growth Annualized -1.80 55.10 55.10 -37.90 percent [+]
GDP Per Capita 37104.00 36607.50 37104.00 10071.50 USD [+]
GDP Per Capita Ppp 44369.60 43711.30 44369.60 28596.70 USD [+]


European Union GDP Annual Growth Rate
Among EU Member States, the biggest economies are Germany (21 percent of total GDP); the United Kingdom (15 percent); France (15 percent); Italy (11 percent); and Spain (8 percent). On the expenditure side, household consumption is the main component of GDP and accounts for 56 percent of its total use, followed by gross fixed capital formation (20 percent) and government expenditure (20 percent). Exports of goods and services account for 46 percent of GDP while imports account for 42 percent, adding 4 percent of total GDP.