The economic growth of European countries
News_Code: 355424 9/12/2021 10:06:44 AM
The economic growth of European countries
The average economic growth of European countries reached over two percent.
 

The EU Statistics Center released its final report on the economic growth of European countries in the second quarter of 2021, according to which the average economic growth of 19 Eurozone countries and 27 EU member states was 2.2% and 2.1%, respectively. This is an increase of 2.5% compared to the average growth of the previous quarter in the euro area and 2.3% in the European Union.  

Annual economic growth during the period was averaged 14.3% in the euro area and an average of 13.8% in the European Union.

Among European countries, the highest economic growth during this period belonged to Portugal with 4.9 percent, followed by Latvia with 4.4 percent and Austria with 4.3 percent. On the other hand, the lowest economic growth was related to Malta, which experienced negative growth of 0.5 percent, followed by Italy with a negative growth of 0.2 percent. Growth in the Czech Republic is 1.0 percent and in France is 1.1 percent.

Among other European countries, growth in the second quarter of Germany was 1.6 percent, Spain 2.8 percent and the Netherlands 3.1 percent.

The euro area includes 19 countries: Belgium, Germany, Estonia, Ireland, Greece, Spain, France, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Austria, Portugal, Slovenia, Slovakia, and Finland. They use themselves. The European Union has 27 members, including 19 Eurozone members, plus Bulgaria, Hungary, Poland, Denmark, Sweden, Croatia, the Czech Republic, and Romania.

According to a new report from the European Commission, the average economic growth of the 19 member states of the Eurozone in 2021 will be about 3.8 percent, which is 0.8 percent higher than the previous estimate, but the economic growth of the European Union instead of the previous 3.9 percent, is projected 3.7%.