Growth of the real gross domestic product (GDP) in the European Union and the Euro area from 2012 to 2022 (compared to the previous year)

Gross domestic product (GDP) growth in EU and Euro area 2022 The statistic shows the growth of the real gross domestic product (GDP) in the European Union and the Euro area from 2012 to 2017, with projections up until 2022. GDP refers to the total market value of all goods and services that are produced within a country per year. It is an important indicator of the economic strength of a country. Real GDP is adjusted for price changes and is therefore regarded as a key indicator for economic growth. In 2017, the GDP in the European Union increased by about 2.66 percent compared to the previous year.
Growth trends in the EU compared to the euro area

The euro area, which is also called the eurozone, is an economic and monetary union (EMU) which includes 19 of the 28 European Union member states which have formally adopted the euro. Those countries include Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain. Member states which have not yet adopted the euro include Bulgaria, Croatia, Czech Republic, Denmark, Hungary, Poland, Romania, Sweden and the United Kingdom. Additionally, there is the so-called Schengen Area, which is composed of EU and non-EU states, and has been established mainly to facilitate travelling in Europe.

While some countries, such as Kosovo and Montenegro have adopted the euro unilaterally, they are not formally part of the eurozone. Others have established a monetary agreement with the EU to use the euro, such as Andorra, Monaco, San Marino and the Vatican, but they do not form part of the official euro area.

As can be seen in the chart, annual GDP growth slumped in 2012 and 2013, presumably as a result of the global financial crisis, in both the EU and the euro area. In 2013, growth began increasing ever so slightly and in 2014 the EU regained a bit of stability. However, overall recovery in the EU has been relatively moderate and gradual; growth throughout the EU has been slightly better than in the euro area and is projected to remain slightly better for the foreseeable future. Relatively new member states such as Romania and the Czech Republic, which have not yet adopted the euro, reported the highest annual growth rates in the EU in 2015, and generally, new member states show slightly better growth rates.

Also, unemployment has been slightly higher in the euro area compared to the EU for the last ten years (267906). The unemployment rate also remains relatively high for both the EU and the euro area. As for public spending as a share of GDP, these figures are slightly higher in the euro area than in the EU as a whole.

The member states with the highest national debt include the United Kingdom, Italy, France and Germany - some of the oldest members of the euro area. The national debt of the euro area is slightly higher than the national debt of the EU as a whole, underlining the economic situation of both areas.
Show more
Loading statistic...
EUEuro area
2022*1.67%1.45%
2021*1.73%1.55%
2020*1.81%1.65%
2019*2.03%1.88%
2018*2.2%2.03%
20172.66%2.39%
20162.04%1.89%
20152.41%2.05%
20141.88%1.42%
20130.33%-0.24%
2012-0.33%-0.86%
EUEuro area
2022*1.67%1.45%
2021*1.73%1.55%
2020*1.81%1.65%
2019*2.03%1.88%
2018*2.2%2.03%
20172.66%2.39%
20162.04%1.89%
20152.41%2.05%
20141.88%1.42%
20130.33%-0.24%
2012-0.33%-0.86%
Download Settings Share
Chart type
Datalabels
Share on Social Media
HTML code to embed chart as PNG (FAQ)
Download started
Please be patient - this may take a moment
Description Source More information
The statistic shows the growth of the real gross domestic product (GDP) in the European Union and the Euro area from 2012 to 2017, with projections up until 2022. GDP refers to the total market value of all goods and services that are produced within a country per year. It is an important indicator of the economic strength of a country. Real GDP is adjusted for price changes and is therefore regarded as a key indicator for economic growth. In 2017, the GDP in the European Union increased by about 2.66 percent compared to the previous year.
Growth trends in the EU compared to the euro area

The euro area, which is also called the eurozone, is an economic and monetary union (EMU) which includes 19 of the 28 European Union member states which have formally adopted the euro. Those countries include Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain. Member states which have not yet adopted the euro include Bulgaria, Croatia, Czech Republic, Denmark, Hungary, Poland, Romania, Sweden and the United Kingdom. Additionally, there is the so-called Schengen Area, which is composed of EU and non-EU states, and has been established mainly to facilitate travelling in Europe.

While some countries, such as Kosovo and Montenegro have adopted the euro unilaterally, they are not formally part of the eurozone. Others have established a monetary agreement with the EU to use the euro, such as Andorra, Monaco, San Marino and the Vatican, but they do not form part of the official euro area.

As can be seen in the chart, annual GDP growth slumped in 2012 and 2013, presumably as a result of the global financial crisis, in both the EU and the euro area. In 2013, growth began increasing ever so slightly and in 2014 the EU regained a bit of stability. However, overall recovery in the EU has been relatively moderate and gradual; growth throughout the EU has been slightly better than in the euro area and is projected to remain slightly better for the foreseeable future. Relatively new member states such as Romania and the Czech Republic, which have not yet adopted the euro, reported the highest annual growth rates in the EU in 2015, and generally, new member states show slightly better growth rates.

Also, unemployment has been slightly higher in the euro area compared to the EU for the last ten years (267906). The unemployment rate also remains relatively high for both the EU and the euro area. As for public spending as a share of GDP, these figures are slightly higher in the euro area than in the EU as a whole.

The member states with the highest national debt include the United Kingdom, Italy, France and Germany - some of the oldest members of the euro area. The national debt of the euro area is slightly higher than the national debt of the EU as a whole, underlining the economic situation of both areas.
Show more
Release date
October 2018
Region
EU
Survey time period
2012 to 2017
Supplementary notes


Values have been rounded.
Open this statistic in...

More information

Statista Accounts: Access All Statistics. Starting from $588 / Year

Basic Account

Get to know the platform

You only have access to basic statistics.

Register for free

Premium Account

Your perfect start with Statista

  • Instant access to 1m statistics
  • Download in XLS, PDF & PNG format
  • Detailed references

$49 / Month *

Corporate Account

Full access

Corporate solution including all features.

Send request

* All products require an annual contract.
   Prices do not include sales tax
   (New York residents only).
Leading companies trust Statista:
paypalgoogleadobepgsamsungtelekom

Related Studies: Available to Download in PDF or PPTX Format

European Union
European Union

All Information
in one Presentation

European Union

Everything On "European Union" in One Document: Edited and Divided into Handy Chapters. Including Detailed References.

Statista is a great source of knowledge, and pretty helpful to manage the daily work.
Christof Baron

Christof Baron
CEO, MindShare Germany

Statistics on "European Union"

  • Population
  • Economy and economic indicators
  • Finances
  • EU budget
Need help with using Statista for your research? Tutorials and first steps

Further Content: Statistics, Studies, and Topic Pages

Statistics on the topic

Topics

About Statista

Learn more about how Statista can support your business.

Request webinar
Do you have any questions about our business solutions?

We provide you with detailed information about our Corporate Account.

News
News