“Gross domestic product (GDP) is a measure of the economic activity, defined as the value of all goods and services produced less the value of any goods or services used in their creation. The calculation of the annual growth rate of GDP volume is intended to allow comparisons of the dynamics of economic development both over time and between economies of different sizes. For measuring the growth rate of GDP in terms of volumes, the GDP at current prices are valued in the prices of the previous year and the thus computed volume changes are imposed on the level of a reference year; this is called a chain-linked series. Accordingly, price movements will not inflate the growth rate.” Eurostat
Chart 1: 10-year change in the real GDP growth rate.
Chart 2: 5-year change in the real GDP growth rate for the Big 5.
Chart 3: 5-year change in the real GDP growth rate for the Nordic and Baltics.
Chart 4: 5-year change in the real GDP growth rate for Central Europe.
Chart 5: 5-year change in the real GDP growth rate for Eastern Europe.
Chart 6: 5-year change in the real GDP growth rate for Southern Europe.
- Big 5: France, Germany, Japan, UK, US
- Nordic and Baltics: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway, Sweden
- Central Europe: Austria, Belgium, Ireland, Luxembourg, Netherlands, Switzerland
- Eastern Europe: Bulgaria, Croatia, Czech Republic, Hungary, Macedonia, Poland, Romania, Slovenia, Slovakia, Turkey
- Southern Europe: Cyprus, Greece, Italy, Malta, Portugal, Spain