GDP of Europe

The European economy, comprising 42 economies, in 2025 is projected to be around $28.19 trillion in nominal terms, $1.12 trillion more than in 2024, calculated by taking figures from the IMF. The GDP of Europe is $2.14 trillion less than the US's GDP, the largest economy in the world. Europe is the 3rd largest continental economy, accounting for 24.41% of the world's GDP in nominal terms. Europe is the 2nd largest continental economy after Asia in PPP methods, accounting for 21.28% of global wealth.

The Western Europe region has the highest economy ($11.84 trillion) on the continent. Eastern Europe had the largest economy in 1970, and now it is at the bottom. 42.00% of the European GDP is distributed in Western Europe, 22.81% in Northern Europe, 18.66% in Southern Europe, and 16.52% in Eastern Europe. In PPP methods, Eastern Europe is the 2nd largest subregion by GDP.

As per the UN, Europe's share of the world economy was a maximum (46.14%) in 1973; now it has declined to the current estimate of 46.14 percent in 2023. In constant 2015 prices, which gives a better idea about expansion over the years, the European economy has expanded from $7.31 trillion in 1970 to $21.81 trillion in 2023, or 2.98x.

The highest increment in European wealth was seen in 2006 when it grew by $636 billion at constant 2015 prices, while the highest reduction of $844 billion was in 2009. The figure moved in the downward direction in four years. At current prices, the maximum increment was in the year 2007 of $2,893 billion, while the biggest decline was in 2015 ($3,168 billion). The figure moved in the downward direction in thirteen years.

Grouping of continents and subregions is as per the United Nations Statistics Division.