The Eurozone economy grew by 0.6 percent year-on-year in the second quarter of 2023, easing from a 1.1 percent expansion in the previous period in line with a preliminary estimate. It was the weakest pace of growth since the 2020-21 period of recession due to a large drop in real incomes and surging interest rates. source: EUROSTAT

GDP Annual Growth Rate in Euro Area averaged 1.60 percent from 1995 until 2023, reaching an all time high of 14.30 percent in the second quarter of 2021 and a record low of -14.10 percent in the second quarter of 2020. This page provides - Euro Area GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Euro Area GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on August of 2023.

GDP Annual Growth Rate in Euro Area is expected to be -0.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Euro Area GDP Annual Growth Rate is projected to trend around 1.20 percent in 2024 and 1.50 percent in 2025, according to our econometric models.

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Euro Area GDP Annual Growth Rate



Calendar GMT Reference Actual Previous Consensus TEForecast
2023-07-31 09:00 AM YoY Flash Q2 0.6% 1.1% 0.5% 0.6%
2023-08-16 09:00 AM YoY 2nd Est Q2 0.6% 1.1% 0.6% 0.6%
2023-09-07 09:00 AM YoY 3rd Est Q2 1.1% 0.6% 0.6%


Related Last Previous Unit Reference
GDP Growth Rate 0.30 0.00 percent Jun 2023
GDP Annual Growth Rate 0.60 1.10 percent Jun 2023
GDP Constant Prices 2939.54 2931.95 EUR Billion Jun 2023
Gross Fixed Capital Formation 627.31 623.47 EUR Billion Mar 2023
Full Year GDP Growth 3.50 5.30 percent Dec 2022
GDP Growth Annualized 0.30 -0.20 percent Mar 2023

Euro Area GDP Annual Growth Rate
The Euro Area is the second largest economy in the world. Of the 19 member states it includes, the biggest are: Germany (29 percent of total GDP), France (20 percent), Italy (15 percent) and Spain (10 percent). On the expenditure side, household consumption is the main component of GDP and accounts for 54 percent of its total use, followed by gross fixed capital formation (21 percent) and government expenditure (20 percent). Exports of goods and services account for 47 percent of GDP while imports account for 43 percent, adding 4 percent of total GDP.
Actual Previous Highest Lowest Dates Unit Frequency
0.60 1.10 14.30 -14.10 1995 - 2023 percent Quarterly