Comparison of changes in volume of GDP in EU member states, Q1 2025 (second estimate)
Released: 17 June 2025
The economic performance of the European Union increased by 1.6% – according to seasonally and calendar adjusted data available from a second Eurostat estimate – in the 1st quarter of 2025 compared to the same period of the previous year. Eurostat published 1st-quarter data for all the 27 member states on 6 June 2025, according to which the volume of GDP grew in 21 countries, was unchanged in Germany and lessened in five countries (Slovenia, Luxembourg, Hungary, Austria and Latvia). The largest growth (of 21%) occurred in Ireland, where large multinational corporations registered there cause outlying changes in GDP from time to time. Ireland was followed by Poland and Denmark in the rankings, with growths of 3.7% and 3.6%, respectively. In addition to the above-mentioned increase in Poland, the economic performance was up by 2.2% in Czechia and by 1.0% in Slovakia and diminished by 0.4% in Hungary out of the other Visegrád countries.
The performance of Hungary’s economy lessened by 0.4% according to the seasonally and calendar adjusted datum and stagnated according to the raw (unadjusted) datum compared to the corresponding period of the previous year. Industry, construction and agriculture went on slowing the economic performance, however, services as a whole positively affected the volume of GDP. Out of services, the largest growth (of 3.5%) occurred in education. The value added of arts, recreation and other service activities grew by 3.1%, that of human health and social work activities by 2.4% and the value added of wholesale and retail trade by 2.1%. The performance of accommodation and food service activities increased by 1.7% and that of transportation and storage by 1.6%.
Compared to the previous quarter, the volume of the EU’s GDP was up by 0.6% and that of Hungary’s lessened by 0.2%. In this respect, a decrease occurred for seven member states.
Hungary’s government counted on a 2.5% economic increase for 2025 on planning the budget for the next year. In its forecast published in May 2025, the European Commission predicted a GDP growth of 0.8% for Hungary and of 1.1% for the EU as a whole.
Table 1
Change in volume of gross domestic product in EU member states, Q1 2025 (second estimate)
(compared to previous quarter and same quarter of previous year, respectively)
Denomination
compared to previous quarter, %
compared to same quarter of previous year, %
EU average
0.6
1.6
Euro area
0.6
1.5
Belgium
0.4
1.1
Bulgaria
0.6
3.1
Czechia
0.8
2.2
Denmark
–0.5
3.6
Germany
0.4
0.0
Estonia
–0.3
0.1
Ireland
9.7
21.1
Greece
0.0
2.2
Spain
0.6
2.8
France
0.1
0.6
Croatia
0.3
3.1
Italy
0.3
0.7
Cyprus
1.3
3.0
Latvia
0.0
–0.3
Lithuania
0.4
3.0
Luxembourg
–1.0
–0.4
Hungary
–0.2
–0.4
Malta
2.1
2.9
Netherlands
0.1
2.0
Austria
0.1
–0.4
Poland
0.7
3.7
Portugal
–0.5
1.6
Romania
0.0
0.6
Slovenia
–0.8
–0.8
Slovakia
0.2
1.0
Finland
0.0
0.8
Sweden
–0.2
0.9
Seasonally and calendar adjusted data. For the Netherlands, Finland and Sweden, the figures compared with the same quarter of the previous year are calendar adjusted only.
Source: Euro indicators – GDP, first quarter of 2025 Download date: 6 June 2025.
Figure 1
Figure 2
Released: 17 June 2025
The economic performance of the European Union increased by 1.6% – according to seasonally and calendar adjusted data available from a second Eurostat estimate – in the 1st quarter of 2025 compared to the same period of the previous year. Eurostat published 1st-quarter data for all the 27 member states on 6 June 2025, according to which the volume of GDP grew in 21 countries, was unchanged in Germany and lessened in five countries (Slovenia, Luxembourg, Hungary, Austria and Latvia). The largest growth (of 21%) occurred in Ireland, where large multinational corporations registered there cause outlying changes in GDP from time to time. Ireland was followed by Poland and Denmark in the rankings, with growths of 3.7% and 3.6%, respectively. In addition to the above-mentioned increase in Poland, the economic performance was up by 2.2% in Czechia and by 1.0% in Slovakia and diminished by 0.4% in Hungary out of the other Visegrád countries.
The performance of Hungary’s economy lessened by 0.4% according to the seasonally and calendar adjusted datum and stagnated according to the raw (unadjusted) datum compared to the corresponding period of the previous year. Industry, construction and agriculture went on slowing the economic performance, however, services as a whole positively affected the volume of GDP. Out of services, the largest growth (of 3.5%) occurred in education. The value added of arts, recreation and other service activities grew by 3.1%, that of human health and social work activities by 2.4% and the value added of wholesale and retail trade by 2.1%. The performance of accommodation and food service activities increased by 1.7% and that of transportation and storage by 1.6%.
Compared to the previous quarter, the volume of the EU’s GDP was up by 0.6% and that of Hungary’s lessened by 0.2%. In this respect, a decrease occurred for seven member states.
Hungary’s government counted on a 2.5% economic increase for 2025 on planning the budget for the next year. In its forecast published in May 2025, the European Commission predicted a GDP growth of 0.8% for Hungary and of 1.1% for the EU as a whole.
Change in volume of gross domestic product in EU member states, Q1 2025 (second estimate)
(compared to previous quarter and same quarter of previous year, respectively)
| Denomination | compared to previous quarter, % | compared to same quarter of previous year, % |
|---|---|---|
| EU average | 0.6 | 1.6 |
| Euro area | 0.6 | 1.5 |
| Belgium | 0.4 | 1.1 |
| Bulgaria | 0.6 | 3.1 |
| Czechia | 0.8 | 2.2 |
| Denmark | –0.5 | 3.6 |
| Germany | 0.4 | 0.0 |
| Estonia | –0.3 | 0.1 |
| Ireland | 9.7 | 21.1 |
| Greece | 0.0 | 2.2 |
| Spain | 0.6 | 2.8 |
| France | 0.1 | 0.6 |
| Croatia | 0.3 | 3.1 |
| Italy | 0.3 | 0.7 |
| Cyprus | 1.3 | 3.0 |
| Latvia | 0.0 | –0.3 |
| Lithuania | 0.4 | 3.0 |
| Luxembourg | –1.0 | –0.4 |
| Hungary | –0.2 | –0.4 |
| Malta | 2.1 | 2.9 |
| Netherlands | 0.1 | 2.0 |
| Austria | 0.1 | –0.4 |
| Poland | 0.7 | 3.7 |
| Portugal | –0.5 | 1.6 |
| Romania | 0.0 | 0.6 |
| Slovenia | –0.8 | –0.8 |
| Slovakia | 0.2 | 1.0 |
| Finland | 0.0 | 0.8 |
| Sweden | –0.2 | 0.9 |
Source: Euro indicators – GDP, first quarter of 2025 Download date: 6 June 2025.