The Eurozone economy expanded 3.9 percent year-on-year in the third quarter of 2021, above preliminary estimates of 3.7 percent and following an upwardly record 14.4% growth in the previous quarter. source: EUROSTAT

GDP Annual Growth Rate in the Euro Area averaged 1.50 percent from 1995 until 2021, reaching an all time high of 14.40 percent in the second quarter of 2021 and a record low of -14.50 percent in the second quarter of 2020. This page provides - Euro Area GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Euro Area GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on January of 2022.

GDP Annual Growth Rate in Euro Area is expected to be 4.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Euro Area GDP Annual Growth Rate is projected to trend around 2.40 percent in 2023 and 2.20 percent in 2024, according to our econometric models.

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Euro Area GDP Annual Growth Rate


Euro Area GDP Annual Growth Rate
The Euro Area is the second largest economy in the world. Of the 19 member states it includes, the biggest are: Germany (29 percent of total GDP), France (20 percent), Italy (15 percent) and Spain (10 percent). On the expenditure side, household consumption is the main component of GDP and accounts for 54 percent of its total use, followed by gross fixed capital formation (21 percent) and government expenditure (20 percent). Exports of goods and services account for 47 percent of GDP while imports account for 43 percent, adding 4 percent of total GDP.
Actual Previous Highest Lowest Dates Unit Frequency
3.90 14.40 14.40 -14.50 1995 - 2021 percent Quarterly

Calendar GMT Actual Previous Consensus TEForecast
2021-11-16 10:00 AM YoY 2nd Est Q3 3.7% 14.2% 3.7% 3.7%
2021-12-07 10:00 AM YoY 3rd Est Q3 3.9% 14.4% 3.7% 3.7%
2022-01-31 10:00 AM YoY Flash Q4 3.9% 4.7% 4.2%


Related Last Previous Unit Reference
GDP Growth Rate 2.20 2.20 percent Sep/21
GDP Annual Growth Rate 3.90 14.40 percent Sep/21
GDP Constant Prices 2843.10 2780.13 EUR Billion Sep/21
Gross Fixed Capital Formation 595.14 600.32 EUR Billion Sep/21
Full Year GDP Growth -6.40 1.60 percent Dec/20
Gdp Growth Annualized 9.20 -1.10 percent Jun/21


News Stream
EU Revises Upward Eurozone GDP Forecasts
The European Commission revised upwards its Eurozone GDP forecasts for 2021 and 2022, saying activity in the first quarter of the year exceeded expectations and the improved health situation prompted a swifter easing of pandemic control restrictions in the second quarter. The Eurozone is seen expanding by 4.8 percent this year and 4.5 percent in 2022, compared with May estimates of 4.3 percent and 4.4 percent, respectively. The Commission also said that real GDP is projected to return to its pre-crisis level in the last quarter of 2021, one quarter earlier than expected, but warned that it is essential to maintain policy support as long as needed as uncertainty and risks surrounding the growth outlook remain high. Inflation, which has been below the ECB target for years, should accelerate to 1.9 percent in 2021 and slow down to 1.4 percent in 2022.
2021-07-07
Eurozone Set for Stronger Growth in 2021, 2022
The European Commission revised upwards its GDP forecasts for 2021 and 2022, saying the growth will be driven by private consumption and investment, as vaccination rates increase and restrictions are eased; as well as rising demand for EU exports from a strengthening global economy. The Eurozone is seen expanding by 4.3 percent this year and 4.4 percent in 2022, compared with February estimates of 3.8 percent growth in both years. The Commission also said that all Member States should see their economies return to pre-crisis levels by the end of 2022, an argument for the suspension of EU borrowing limits for governments in 2020 and 2021. Inflation, which has been below the ECB target for years, should accelerate to 1.7 percent in 2021 and slow down to 1.3 percent in 2022.
2021-05-12
Eurozone 2021 Recovery to Be Weaker Than Expected
The European Commission lowered its GDP forecasts for 2021, saying that the resurgence in COVID-19 infections since the autumn, together with the appearance of new, more contagious variants of the virus, have forced many countries to reintroduce or tighten containment measures. The Eurozone is seen growing 3.8 percent this year and the same in 2022, from its unprecedented recession in 2020, compared with November estimates of a 4.2 percent expansion in 2021 and a 3 percent growth in 2022. The bloc welcomed signs of progress in vaccination campaigns, saying that activity would pick up moderately in the second quarter, and more vigorously in the third, led by private consumption with additional support from global trade. Among the bloc's largest economies, Spain and France are seen posting the steepest growth rates, with the GDP expanding by 5.6 and 5.5 percent, respectively. Italy's economy is forecast to expand 3.4 percent, while Germany's GDP will probably grow by 3.2 percent.
2021-02-11