European Union Economic Growth 1960-2025

European Union economic growth for 2023 was 18.349 trillion US dollars, a 9.47% increase from 2022.
  • European Union economic growth for 2022 was 16.761 trillion US dollars, a 3.2% decline from 2021.
  • European Union economic growth for 2021 was 17.315 trillion US dollars, a 12.57% increase from 2020.
  • European Union economic growth for 2020 was 15.381 trillion US dollars, a 1.99% decline from 2019.
GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used.