Euro Area GDP Growth Rate  1995-2016 | Data | Chart | Calendar | Forecast

The Eurozone economy advanced 0.6 percent on quarter in the first three months of 2016, higher than an upwardly revised 0.4 percent expansion in the previous quarter and the strongest performance in a year, final figures showed. Growth was mainly driven by household spending and private investment. GDP Growth Rate in the Euro Area averaged 0.36 percent from 1995 until 2016, reaching an all time high of 1.20 percent in the second quarter of 1997 and a record low of -3 percent in the first quarter of 2009. GDP Growth Rate in the Euro Area is reported by the Eurostat.

Euro Area GDP Growth Rate
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Actual Previous Highest Lowest Dates Unit Frequency
0.60 0.30 1.20 -3.00 1995 - 2016 percent Quarterly
SA
The Euro Area is an economic and monetary union of 19 European Union countries that adopted the euro as their currency. It is the second largest economy in the world and if it was a country it would be the fourth most populous with 340 million inhabitants. Germany, France, Italy and Spain are the most important economies accounting respectively for 29 percent, 21 percent, 16 percent and 11 percent of Union’s GDP. This page provides - Euro Area GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Euro Area GDP Growth Rate - actual data, historical chart and calendar of releases - was last updated on June of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-04-29 09:00 AM Q1 0.6% 0.3% 0.4% 0.2%
2016-05-13 09:00 AM Q1 0.5% 0.3% 0.6% 0.6%
2016-06-07 09:00 AM Q1 0.6% 0.4% 0.5% 0.5%
2016-08-12 09:00 AM Q2 0.6% 0.3%
2016-09-06 09:00 AM Q2 0.6%
2016-11-15 10:00 AM Q3 0.3%

Euro Area GDP Growth Revised Up to 1-Year High of 0.6%


The Eurozone economy advanced 0.6 percent on quarter in the first three months of 2016, higher than an upwardly revised 0.4 percent expansion in the previous quarter and the strongest performance in a year, final figures showed. Growth was mainly driven by household spending and private investment.

The first estimate showed the common currency zone grew 0.6 percent but the first revision had lowered growth to 0.5 percent. 

Household final consumption expenditure had a positive contribution to growth (+0.3 and percentage points), as did gross fixed capital formation (+0.2 pp). The contribution of the external balance was negative, while the one of changes in inventories was positive.

During the first quarter of 2016, household final consumption expenditure rose by 0.6 percent, accelerating from a 0.3 percent growth in the previous quarter while gross fixed capital formation increased at a slower 0.8 percent (1.4 percent in the previous period). In addition, growth for both exports (0.4 percent from 0.7 percent) and imports (0.7 percent from 1.4 percent in the previous quarter) eased. 

Among countries for which data is available, Germany (0.7 percent from 0.3 percent in Q4 2015), France (0.6 percent from 0.4 percent in Q4 2015), Italy (0.3 percent from 0.02 percent in Q4 2015), Cyprus (0.9 percent from 0.4 percent in Q4 2015), Lithuania (0.8 percent from 0.5 percent in Q4 2015), Austria (0.8 percent from 0.3 percent in Q4 2015), Slovakia (0.8 percent from 1 percent in Q4 2015), Finland (0.6 percent from 0.4 percent in Q4 2015), the Netherlands (0.5 percent from 0.3 percent in Q4 2015) and Latvia (0.1 percent from -0.4 percent in Q4 2015) grew at a faster pace. Spanish GDP growth remained robust at 0.8 percent and the Portuguese economy expanded at the same pace as in the previous quarter (0.2 percent).

In contrast, Belgium (0.2 percent from 0.5 percent in Q4 2015) and Estonia (0 percent from 0.9 percent in Q4 2015) slowed while Greece came back to contraction (-0.5 percent from 0.1 percent in Q4 2015). 

Year-on-year, the Euro Area economy expanded 1.7 percent, the same as in the last three months of 2016 and also revised up from a 1.5 percent growth in the second estimate.

Considering the European Union, the GDP grew 0.5 percent on quarter and 1.8 percent on the year. Hungary (-0.8 percent) and Poland (-0.1 percent) showed contractions.

Eurostat | Joana Taborda | joana.taborda@tradingeconomics.com
6/7/2016 10:29:56 AM

Euro Area GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.60 0.30 1.20 -3.00 percent [+]
GDP Annual Growth Rate 1.70 1.60 5.00 -5.50 percent [+]
GDP 13410.20 13188.80 14104.50 245.70 USD Billion [+]
GDP Constant Prices 2483.55 2469.96 2483.55 1767.42 EUR Billion [+]
Gross Fixed Capital Formation 502.56 498.41 571.74 381.55 EUR Billion [+]
GDP per capita 32789.48 32652.47 33657.51 9162.09 USD [+]
GDP per capita PPP 36924.57 36765.89 38015.35 28207.13 USD [+]




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Bangladesh 6.51 Dec/15
Sri Lanka 5.50 Mar/16
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United Arab Emirates 4.60 Dec/14
Cape Verde 4.50 Dec/14
Morocco 4.50 Dec/15
Pakistan 4.24 Dec/15
Algeria 4.00 Dec/14
Macedonia 3.90 Mar/14
Egypt 3.80 Dec/15
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Mongolia 3.10 Mar/16
Ireland 2.70 Dec/15
Rwanda 2.35 Dec/15
Uganda 2.10 Dec/15
Peru 1.90 Dec/15
Mozambique 1.80 Mar/16
India 1.70 Dec/15
Moldova 1.70 Mar/16
Romania 1.60 Mar/16
Serbia 1.60 Mar/16
El Salvador 1.55 Dec/15
Cameroon 1.50 Sep/15
Tanzania 1.50 Sep/10
Kenya 1.40 Sep/15
Bolivia 1.30 Dec/15
Chile 1.30 Mar/16
Kazakhstan 1.26 Dec/13
Australia 1.10 Mar/16
China 1.10 Mar/16
Ghana 1.10 Mar/16
Malta 1.10 Dec/15
Philippines 1.10 Mar/16
Malaysia 1.00 Mar/16
Norway 1.00 Mar/16
Cyprus 0.90 Mar/16
Thailand 0.90 Mar/16
Lithuania 0.80 Mar/16
Mexico 0.80 Mar/16
Paraguay 0.80 Mar/16
Spain 0.80 Mar/16
Turkey 0.80 Mar/16
United States 0.80 Mar/16
Taiwan 0.78 Mar/16
Albania 0.73 Dec/15
Bulgaria 0.70 Mar/16
Costa Rica 0.70 Dec/15
Germany 0.70 Mar/16
Luxembourg 0.70 Mar/16
New Zealand 0.70 Mar/16
Slovakia 0.70 Mar/16
Canada 0.60 Mar/16
Croatia 0.60 Apr/16
Euro Area 0.60 Mar/16
Finland 0.60 Mar/16
France 0.60 Mar/16
Argentina 0.50 Jun/15
Austria 0.50 Mar/16
Denmark 0.50 Mar/16
European Union 0.50 Mar/16
Japan 0.50 Mar/16
Netherlands 0.50 Mar/16
Slovenia 0.50 Mar/16
South Korea 0.50 Mar/16
Sweden 0.50 Mar/16
Czech Republic 0.40 Mar/16
Tunisia 0.40 Mar/16
United Kingdom 0.40 Mar/16
Bosnia and Herzegovina 0.30 Dec/15
Israel 0.30 Mar/16
Italy 0.30 Mar/16
Belgium 0.20 Mar/16
Colombia 0.20 Mar/16
Portugal 0.20 Mar/16
Singapore 0.20 Mar/16
Bahrain 0.10 Dec/15
Ecuador 0.10 Dec/15
Jamaica 0.10 Dec/15
Latvia 0.10 Mar/16
Switzerland 0.10 Mar/16
Uruguay 0.10 Mar/16
Estonia 0.00 Mar/16
Mauritius 0.00 Dec/15
Poland -0.10 Mar/16
Belize -0.25 Dec/15
Brazil -0.30 Mar/16
Indonesia -0.34 Mar/16
Hong Kong -0.40 Mar/16
Greece -0.50 Mar/16
Iceland -0.50 Mar/16
Qatar -0.50 Dec/15
Russia -0.57 Sep/15
Trinidad And Tobago -0.60 Dec/15
Ukraine -0.70 Mar/16
Hungary -0.80 Mar/16
South Africa -1.20 Mar/16
Namibia -1.60 Mar/16
Nigeria -13.70 Mar/16
Senegal -14.10 Mar/16