The Euro Area economy expanded by 13.7 percent year-on-year in the second quarter of 2021, rebounding from five consecutive periods of contraction and beating market expectations of 13.2 percent growth, a preliminary estimate showed. source: EUROSTAT

GDP Annual Growth Rate in the Euro Area averaged 1.46 percent from 1995 until 2021, reaching an all time high of 13.70 percent in the second quarter of 2021 and a record low of -14.60 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 - values, historical data and charts - was last updated on August of 2021.

GDP Annual Growth Rate in Euro Area is expected to be 3.40 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 2.20 percent in 2022 and 2.00 percent in 2023, according to our econometric models.

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Euro Area GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
13.70 -1.30 13.70 -14.60 1995 - 2021 percent Quarterly

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.