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European Union GDP Annual Growth Rate

European Union's GDP annual growth rate rose to 1.03% in 2024, up from 0.46% in 2023, according to World Bank. This represents an increase of 0.57% from the previous year.

European Union's real GDP rose to $15.69 trillion in 2024, up from $15.53 trillion in 2023.

Yearly Historical Data (1961-2024)

(in %)
Year GDP Annual Growth Rate (%)
2024 1.03%
2023 0.46%
2022 3.49%
2021 6.36%
2020 -5.57%
2019 1.88%
2018 2.05%
2017 2.79%
2016 1.95%
2015 2.37%
2014 1.63%
2013 -0.04%
2012 -0.76%
2011 1.96%
2010 2.18%
2009 -4.31%
2008 0.62%
2007 3.14%
2006 3.56%
2005 1.98%
2004 2.6%
2003 0.94%
2002 1.1%
2001 2.16%
2000 3.93%
1999 3%
1998 2.98%
1997 2.68%
1996 1.92%
1995 2.72%
1994 2.7%
1993 -0.6%
1992 0.9%
1991 1.46%
1990 3.3%
1989 3.89%
1988 4.13%
1987 2.54%
1986 2.58%
1985 2.32%
1984 2.53%
1983 1.45%
1982 0.82%
1981 0.56%
1980 2.07%
1979 3.89%
1978 3.05%
1977 2.95%
1976 4.88%
1975 -0.61%
1974 3.2%
1973 6.08%
1972 4.78%
1971 3.66%
1970 5.53%
1969 7.03%
1968 5.57%
1967 3.56%
1966 4.28%
1965 5.24%
1964 5.96%
1963 4.8%
1962 5.7%
1961 5.73%
European Union GDP Annual Growth Rate : Definition
GDP Annual Growth Rate measures the yearly percentage change in European Union's total economic output.
Indicator Last Value Prior Value Period
GDP $19.42T $18.6T 2024
GDP per Capita $34,859.6 $34,564.1 2024
GDP per Capita PPP $54,290.99 $53,779.48 2024
R&D Expenditure (% GDP) 2.24% 2.26% 2022
Real GDP $15.69T $15.53T 2024