Gross Domestic Product by Expenditure in Constant Prices: Exports of Goods and Services for the European Union
Chained 2000 National Currency Units, Annual, Not Seasonally Adjusted
NAEXKP06EUA652S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,738,833,880,713.90
Year-over-Year Change
41.81%
Date Range
1/1/1995 - 1/1/2019
Summary
The 'Chained 2000 National Currency Units, Annual, Not Seasonally Adjusted' series tracks the gross domestic product (GDP) of the European Union using a chained volume measure and 2000 as the base year. This metric is a key economic indicator for policymakers and analysts.
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
This economic series represents the GDP of the European Union, adjusted for inflation and expressed in national currency units on an annual basis. The chained volume measure accounts for changes in the composition of economic activity over time, providing a more accurate picture of real economic growth.
Methodology
The data is calculated by the U.S. Federal Reserve using national accounts information from Eurostat.
Historical Context
This GDP measure is widely used by economists, policymakers, and financial analysts to assess the overall health and performance of the European economy.
Key Facts
- The European Union's GDP reached €13.4 trillion in 2021.
- GDP growth in the EU was 5.4% in 2021 after a 5.9% contraction in 2020.
- Germany is the largest economy in the European Union, accounting for over 20% of EU GDP.
FAQs
Q: What does this economic trend measure?
A: This series tracks the gross domestic product (GDP) of the European Union, adjusting for inflation and expressing the data in national currency units on an annual basis.
Q: Why is this trend relevant for users or analysts?
A: GDP is a fundamental indicator of a country or region's economic performance and growth, making this EU-level GDP measure highly relevant for policymakers, economists, and financial analysts.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Federal Reserve using national accounts information from Eurostat.
Q: How is this trend used in economic policy?
A: This EU GDP measure is widely used by policymakers, central banks, and international institutions to assess the overall health and direction of the European economy, informing policy decisions.
Q: Are there update delays or limitations?
A: The data is released on an annual basis, with a short lag, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Chained 2000 National Currency Units, Annual, Not Seasonally Adjusted (NAEXKP06EUA652S), retrieved from FRED.