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The European Union's GDP is estimated to be $19.35 trillion (nominal) in 2024 or $26.64 trillion (PPP), representing around one-sixth of the global economy. Germany has the biggest national GDP of all EU countries, followed by France and Italy. In 2022, the social welfare expenditure of the European Union (EU) as a whole was 19.5% of its GDP.
Learn about the size, trade, employment and equality of the EU economy, a single market of 27 countries. Find out how the EU ranks globally and compare with other countries and regions.
Learn about the history, structure and performance of the EU, the third-largest economy in the world. See the GDP and population data of the 27 member states and the challenges they face.
The European economy since the start of the millennium — a statistical portrait aims to show how main features of the economy of the European Union and its Member States have evolved since 2000 through a large range of statistical data giving both a micro- and a macro-economic perspective.
Apr 30, 2024 · European Economic Forecast. Spring 2024. After a prolonged period of stagnation, better-than-expected growth at the start of 2024 and the ongoing reduction in inflation set the scene for a gradual recovery of the EU economy over the forecast horizon.
Dec 20, 2021 · 20 December 2021. In 2020, the gross domestic product (GDP) of the EU stood at around €13 400 billion at current prices. In real terms, the EU’s GDP in 2020 was 7.6% higher than its level a decade ago. However, real GDP was 5.9% lower than its level in 2019; it was the first drop in EU GDP since 2009, when GDP declined by 4.3% compared with 2008.
Economics. The COVID-19 pandemic plunged the EU into its worst-ever recession and risks increasing inequalities, notably between regions. Thanks to a bold and innovative policy response, including a common instrument to finance national recovery plans (Next...
