Euro Area GDP Annual Growth Rate

Last Release

Dec 31, 2024

Actual

0.9

Units In

0.9

Frequency

Quarterly

Next Release

N/A

Time to Release

N/A

Highest	Lowest	Average	Date Range	Source
14.4 Jun 2021	-14.5 Jun 2020	1.53 %	1995-2024	Eurostat

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.

Latest Updates

The Eurozone's annual GDP growth rate was confirmed at 0.9% in the fourth quarter of 2024, unchanged from the previous period and in line with the preliminary estimate. This marked the joint-fastest expansion since early 2023, driven by lower borrowing costs and easing inflationary pressures. Among the bloc's largest economies, Spain led with a robust 3.5% growth, followed by the Netherlands (1.8%), France (0.7%), and Italy (0.5%). In contrast, Germany, the Eurozone’s largest economy, remained in contraction, shrinking by 0.2%.