Euro Area Full Year GDP Growth2022 Data - 2023 Forecast - 1996-2021 Historical

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

The Eurozone economy grew by 3.5 percent in 2022, easing from a 5.3 expansion in 2021, as sky-high energy costs due to the war in Ukraine, waning confidence and rising interest rates took a toll on the bloc. source: EUROSTAT

Full Year GDP Growth in Euro area averaged 1.49 percent from 1996 until 2022, reaching an all time high of 5.30 percent in 2021 and a record low of -6.40 percent in 2020. This page includes a chart with historical data for Euro Area Full Year GDP Growth. Euro Area Full Year GDP Growth - data, historical chart, forecasts and calendar of releases - was last updated on February of 2023.

Full Year GDP Growth in Euro area is expected to reach 0.60 percent by the end of 2023, according to Trading Economics global macro models and analysts expectations. In the long-term, the Euro Area Full Year GDP Growth is projected to trend around 1.50 percent in 2024 and 3.40 percent in 2025, according to our econometric models.

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Related	Last	Previous	Unit	Reference
GDP Growth Rate	0.10	0.30	percent	Dec 2022
GDP Annual Growth Rate	1.90	2.30	percent	Dec 2022
GDP	14563.28	13085.48	USD Billion	Dec 2021
GDP Growth Annualized	1.30	3.20	percent	Sep 2022

Euro Area Full Year GDP Growth

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.