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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 .
This is the series of the European Commission providing general information on major EU economic policies as well as a more in-depth look and explanation concerning specific economic issues.
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.
Nov 11, 2022 · The contraction of economic activity is set to continue in the first quarter of next year. The EU and euro area, and most Member States, are therefore expected to experience a technical recession this winter. Growth would return in spring, as inflation progressively relaxes its grip on the economy.
The European economy continues to show resilience in a challenging global context. Lower energy prices, abating supply constraints and a strong labour market supported moderate growth in the first quarter of 2023, dispelling fears of a recession and lifting the growth outlook for 2023 and 2024.
Oct 20, 2021 · Advanced European economies are forecast to expand in 2021 by 5.2 percent and emerging market economies by 6 percent. Yet, the recovery remains bumpy, with supply chain bottlenecks and high energy prices. Policies should be adapted flexibly, reflecting country-specific developments.
Apr 16, 2024 · We project that economic activity in Europe this year will decline by 7% and rebound by 4.7% in 2021. The recovery path is exceptionally uncertain. The ongoing resurgence of infections across Europe presents perhaps the greatest downside risk at this stage. Learn more, download our new Regional Economic Outlook for Europe.
