European Union GDP Growth Rate

The Gross Domestic Product (GDP) in European Union expanded 0.30 percent in the third quarter of 2019 over the previous quarter. GDP Growth Rate in European Union averaged 0.44 percent from 1995 until 2019, reaching an all time high of 1.30 percent in the third quarter of 1999 and a record low of -2.70 percent in the first quarter of 2009. Since July 1, 2013, with the addition of Croatia, the EU has 28 Member States. Among them, the biggest economies are Germany (21 percent of total GDP); the United Kingdom (15 percent); France (15 percent); Italy (11 percent); and Spain (8 percent). 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. This page provides the latest reported value for – European Union GDP Growth Rate – plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.