Gross Domestic Product by Expenditure in Constant Prices: Total Gross Domestic Product for the European Union
Chained 2000 National Currency Units, Annual, Not Seasonally Adjusted
NAEXKP01EUA652S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
13,917,180,677,921.20
Year-over-Year Change
12.68%
Date Range
1/1/1995 - 1/1/2019
Summary
This economic trend measures the real GDP of the European Union, adjusting for inflation and converting to a common currency. It provides valuable insights into the overall economic performance and growth of the EU.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Chained 2000 National Currency Units, Annual, Not Seasonally Adjusted series represents the real gross domestic product (GDP) of the European Union, with the base year set to 2000. This inflation-adjusted metric offers a comprehensive view of the EU's economic activity and is widely used by policymakers and analysts to assess the region's economic health and growth trajectory.
Methodology
The data is collected and calculated by Eurostat, the statistical office of the European Union.
Historical Context
This trend is closely monitored by government agencies, central banks, and international organizations to inform economic policy decisions and market analysis.
Key Facts
- The EU's GDP in 2022 was approximately $17.6 trillion.
- The EU economy grew by 3.5% in 2022, recovering from the COVID-19 pandemic.
- Germany, France, and Italy are the largest economies within the European Union.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the European Union, adjusting for inflation and converting to a common currency.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the overall economic performance and growth of the European Union, which is crucial for policymakers, investors, and economists to assess the region's economic health and make informed decisions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by Eurostat, the statistical office of the European Union.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by government agencies, central banks, and international organizations to inform economic policy decisions and market analysis for the European Union.
Q: Are there update delays or limitations?
A: The data is typically released on an annual basis, with some potential for minor delays in publication.
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Citation
U.S. Federal Reserve, Chained 2000 National Currency Units, Annual, Not Seasonally Adjusted (NAEXKP01EUA652S), retrieved from FRED.