Name: European Union Full Year GDP Growth
Creator: TRADING ECONOMICS
License: https://creativecommons.org/licenses/by/4.0/

The European Union economy grew by 1.0% in 2024, following a 0.4% expansion in the previous year. Full Year GDP Growth in European Union averaged 1.62 percent from 1996 until 2024, reaching an all time high of 6.30 percent in 2021 and a record low of -5.60 percent in 2020. source: EUROSTAT

Full Year GDP Growth in European Union is expected to reach 1.10 percent by the end of 2025, according to Trading Economics global macro models and analysts expectations. In the long-term, the European Union Full Year GDP Growth is projected to trend around 1.50 percent in 2026 and 1.60 percent in 2027, according to our econometric models.

Related	Last	Previous	Unit	Reference
Full Year GDP Growth	1.00	0.40	percent	Dec 2024
GDP	19423.32	18602.67	USD Billion	Dec 2024
GDP Annual Growth Rate	1.60	1.70	percent	Jun 2025
GDP Constant Prices	3583.01	3575.14	EUR Billion	Jun 2025
GDP Growth Annualized	0.70	2.00	percent	Jun 2025
GDP Growth Rate	0.20	0.50	percent	Jun 2025
Gross Fixed Capital Formation	745.30	758.42	EUR Billion	Jun 2025

European Union Full Year GDP Growth

Among EU Member States, the biggest economies are Germany, France, Italy and Spain. On the expenditure side, household consumption is the main component of GDP and accounts for 56 percent of its total use, followed by gross fixed capital formation (20 percent) and government expenditure (20 percent). Exports of goods and services account for 46 percent of GDP while imports account for 42 percent, adding 4 percent of total GDP.