Comparison of changes in volume of GDP in EU member states, Q1 2026 (first estimate)

Released: 12 May 2026

The economic performance of the European Union increased by 1.0% – according to seasonally and calendar adjusted data available from a preliminary Eurostat flash estimate – in the 1st quarter of 2026 compared to the same period of the previous year. Eurostat published data for 15 member states on 30 April 2026, the volume of GDP going up in all of which except Ireland. The largest increase (of 2.7%) occurred in Spain. Spain was followed in the rankings by Lithuania and Portugal, with growths of 2.5% and 2.3%, respectively. According to the seasonally and calendar adjusted datum, the performance of Hungary’s economy augmented by 1.7% compared to the corresponding period of the previous year. The main contributor to the growth in gross domestic product was services, within which especially professional, scientific, technical and administrative activities. After a long period of time, the performance of industry also affected positively the change in GDP.

Compared to the previous quarter, the volume of the EU’s GDP grew by 0.1% and that of Hungary’s at a higher rate, by 0.8%. In this respect, there was a decrease in Ireland, Lithuania and Sweden out of the member states providing the data.

The National Bank of Hungary predicted a 1.7% economic increase for 2026 in its Inflation Report in March. In its forecast published in November 2025, the European Commission forecast a GDP growth of 2.3% for Hungary and of 1.4% for the European Union as a whole for 2026.