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March 09, 2022EU AND EURO AREA GDP, Q4 2021 AND ANNUAL 
In the revised GDP estimate for Q4 2021, Eurostat estimates the seasonally adjusted annualized growth rate for real GDP was 1.6% in the European Union (EU27) and 1.0% for the Euro Area (EA19, a subset of the EU27 nations). Growth slowed from the previous quarter which recorded growth of 8.9% in the EU27 and 9.3% in the EA19.
The European Union economy was 0.6% larger compared to the pre-pandemic period Q4 2019, while the Euro Area economy was up 0.2% from pre-pandemic levels in Q4 2021.
The slowdown in real GDP growth in Q4 2021 is attributable to falling household consumer expenditures and accelerating imports. Government spending, investment and exports were all up. The drivers of Q4 2021 growth were the same for both the European Union and the Euro Area.
ANNUAL
For 2021, both EU and Euro Area GDP increased by 5.3%, rebounding from the 5.9% decline in the EU and the 6.4% drop in Euro Area real GDP in 2020.
Source: Eurostat
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