Welcome To Statistics Explained
Statistics Explained, your guide to European statistics. Statistics Explained is an official Eurostat website presenting statistical topics in an easily understandable way. Together, the articles make up an encyclopedia of European statistics for everyone, completed by a statistical glossary clarifying all terms used and by numerous links to further information and the latest data and metadata, a portal for occasional and regular users.
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Moreover, the development of specific GDP components and related indicators, such as those for economic output, imports and exports, domestic (private and public) consumption or investments, as well as data on the distribution of income and savings, can give valuable insights into the main drivers of economic activity and thus be the basis for the design, monitoring and evaluation of specific EU policies.
Main statistical findings
Developments in GDP
Growth in the EU-28’s GDP (in current prices) slowed substantially in 2008 and GDP contracted considerably in 2009 as a result of the global financial and economic crisis. There was a recovery in the level of EU-28 GDP in 2010 and this development continued (albeit at a progressively slower pace) in 2011–13, before growth accelerated again in 2014, as current price GDP increased by 3.0 %. By 2014, GDP in the EU-28 had reached EUR 13.9 trillion (EUR 13 900 billion), some 6.2 % more than in the United States (see Figure 1).More ...