Gross Domestic Product — Value US$ in European Union (27)

European Union (27): Gross Domestic Product — Value US$ was 19.41 million million USD in 2024. ◆ Volatile

Latest (2024)
19.41 million million USD
Change on year
up 4.4%
Rank
7th
of 29 groups
All-time high
19.41 million million USD
in 2024
All-time low
1.00 million million USD
in 1970
Years of data
55
1970–2024

Gross Domestic Product — Value US$ in European Union (27), 1970–2024

05.0M10.0M15.0M20.0M197019972024

Source: Food and Agriculture Organization of the United Nations. Measured in million USD.

Analysis

European Union (27) recorded 19.41 million million USD for gross domestic product — value us$ in 2024. That is the highest value across all 55 years on record.

The figure is up 4.4% on the previous year and up 23.1% over ten years.

Over the whole period, gross domestic product — value us$ in European Union (27) peaked at 19.41 million million USD in 2024 and was at its lowest, 1.00 million million USD, in 1970.

European Union (27) ranks 7th of 29 groups on this measure, in the top quarter.

The series is highly variable year to year, so single readings are best treated with caution.

Gross Domestic Product — Value US$ in European Union (27), year by year

Annual values for Gross Domestic Product — Value US$ in European Union (27), 1970 to 2024.
Year million USD Change
1970 1.00 million million USD
1971 1.13 million million USD +12.3%
1972 1.33 million million USD +17.8%
1973 1.68 million million USD +26.3%
1974 1.89 million million USD +12.7%
1975 2.15 million million USD +13.8%
1976 2.29 million million USD +6.4%
1977 2.58 million million USD +12.6%
1978 2.47 million million USD -4.3%
1979 2.96 million million USD +20.1%
1980 3.28 million million USD +10.9%
1981 2.88 million million USD -12.2%
1982 2.80 million million USD -2.7%
1983 2.74 million million USD -2.3%
1984 2.64 million million USD -3.7%
1985 2.72 million million USD +2.9%
1986 3.75 million million USD +38.1%
1987 4.59 million million USD +22.5%
1988 5.05 million million USD +9.9%
1989 5.16 million million USD +2.2%
1990 6.49 million million USD +25.7%
1991 6.73 million million USD +3.7%
1992 7.39 million million USD +9.7%
1993 6.75 million million USD -8.6%
1994 7.16 million million USD +6.0%
1995 8.29 million million USD +15.8%
1996 8.43 million million USD +1.7%
1997 7.73 million million USD -8.3%
1998 7.96 million million USD +3.0%
1999 7.93 million million USD -0.4%
2000 7.28 million million USD -8.2%
2001 7.40 million million USD +1.6%
2002 8.09 million million USD +9.4%
2003 9.94 million million USD +22.9%
2004 11.44 million million USD +15.0%
2005 11.94 million million USD +4.4%
2006 12.76 million million USD +6.8%
2007 14.78 million million USD +15.9%
2008 16.36 million million USD +10.7%
2009 14.85 million million USD -9.3%
2010 14.65 million million USD -1.4%
2011 15.88 million million USD +8.4%
2012 14.73 million million USD -7.2%
2013 15.40 million million USD +4.5%
2014 15.76 million million USD +2.4%
2015 13.65 million million USD -13.4%
2016 13.99 million million USD +2.5%
2017 14.87 million million USD +6.3%
2018 16.09 million million USD +8.2%
2019 15.81 million million USD -1.8%
2020 15.51 million million USD -1.9%
2021 17.50 million million USD +12.8%
2022 17.00 million million USD -2.9%
2023 18.59 million million USD +9.4%
2024 19.41 million million USD +4.4%

Averages by decade

DecadeAverage LowestHighest Years
1970s 1.95 million million USD 1.00 million million USD 2.96 million million USD 10
1980s 3.56 million million USD 2.64 million million USD 5.16 million million USD 10
1990s 7.49 million million USD 6.49 million million USD 8.43 million million USD 10
2000s 11.48 million million USD 7.28 million million USD 16.36 million million USD 10
2010s 15.08 million million USD 13.65 million million USD 16.09 million million USD 10
2020s 17.60 million million USD 15.51 million million USD 19.41 million million USD 5

Countries ranked near European Union (27)

  1. 4 India 3.88 million million USD compare
  2. 5 United Kingdom of Great Britain and Northern Ireland 3.66 million million USD compare
  3. 5 Viet Nam 455,329 million USD compare
  4. 6 France 3.16 million million USD compare
  5. 7 Italy 2.37 million million USD compare
  6. 8 Canada 2.21 million million USD compare
  7. 9 Brazil 2.18 million million USD compare
  8. 10 Democratic Republic of the Congo 71,197 million USD compare
  9. 10 Australia and New Zealand 2.09 million million USD compare

See the full ranking of 252 places →

More economy & growth data for European Union (27)

All data for European Union (27) →

Frequently asked questions

What is gross domestic product — value us$ in European Union (27)?
Gross domestic product — value us$ in European Union (27) was 19.41 million million USD in 2024, according to Food and Agriculture Organization of the United Nations.
What is the highest gross domestic product — value us$ recorded in European Union (27)?
The highest recorded value was 19.41 million million USD in 2024.
What is the lowest gross domestic product — value us$ recorded in European Union (27)?
The lowest recorded value was 1.00 million million USD in 1970.
How does European Union (27) rank for gross domestic product — value us$?
European Union (27) ranks 7th out of 29 groups with data for 2024.
Is gross domestic product — value us$ rising or falling in European Union (27)?
Over the last ten years it is up 23.1%. The long-run trend across the full record is volatile.
Where does this European Union (27) data come from?
The figures come from Food and Agriculture Organization of the United Nations, published as part of Gross Domestic Product — Value US$. Statizoid updates them automatically from the source API.

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Gross Domestic Product — Value US$ in European Union (27). Statizoid, drawing on Food and Agriculture Organization of the United Nations. Retrieved 01 September 2026, from https://economy.statizoid.com/stat/gross-domestic-product-value-us/european-union-27/

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About this data

Indicator
Gross Domestic Product — Value US$
Unit
million USD
Source
Food and Agriculture Organization of the United Nations
Licence
CC BY-NC-SA 3.0 IGO (FAO)
Coverage
252 places, 12,899 data points, 1970–2024
Last refreshed

The FAOSTAT Macro Indicators database provides a selection of country-level macro indicators relating to total economy (Gross Domestic Product, Gross Fixed Capital Formation); agriculture activity; agriculture, forestry and fishing activity; total manufacturing activity; manufacturing of food products and beverages activity; manufacturing activity of tobacco products; and manufacturing activity of food, beverage and tobacco products.It releases time series for a selection of National Accounts variables, including gross domestic product, gross fixed capital formation, industry-level value added and gross output. The database also proposes additional indicators such as gross domestic product per capita, year-on-year growth rates and measures of industry contribution to gross domestic product. All data relating to Gross Domestic Product, Gross Fixed Capital Formation, agriculture, forestry and fishing activity, and to total manufacturing activity originates from the United Nations Statistics Division (UNSD) National Accounts Estimates of Main Aggregates database, which consists of a complete and consistent set of time series of the main National Accounts aggregates of all UN Members States and other territories in the world for which National Accounts information is available. The UNSD database's content is based on the countries' official National Accounts data reported to UNSD through the annual National Accounts Questionnaire, supplemented with data estimates for any years and countries with incomplete or inconsistent information (See http://unstats.un.org/unsd/snaama/Introduction.asp). Data series relating to the sub-industry Agriculture activity are obtained from the UNSD national accounts Official Country Data databases while series on the Manufacturing activity of food and beverages products, manufacturing activity of tobacco products and manufacturing activity of food, beverages and tobacco products originates from the United Nations Industrial Development Organization (UNIDO) INDSTAT2 database. In order to ensure that sub-industry series are consistent in levels with National Accounts based series, which is needed to support comparability across industries (agriculture vs. agro-industry and sub-industries), UNIDO originating series are rescaled on UNSD National Accounts Estimates of Main Aggregates data series (See Section 17.5 for a more detailed description of the data processing steps).