Description
The European Union Nominal Gross Domestic Product (GDP) in US Dollars is published by Eurostat, the statistical office of the European Union. This indicator measures the total market value of all final goods and services produced within the EU during a specific period, expressed in current US dollars. It serves as a key indicator for assessing the EU's economic performance and overall economic health. Higher GDP figures generally indicate economic growth, while lower figures can signal economic troubles.
Nominal GDP is calculated by adding up the total market value of all final goods and services produced within the EU, without adjusting for inflation. It includes consumer spending, government spending, investment, and net exports (exports minus imports).
The data is updated quarterly and annually. Preliminary estimates are usually released within 45 days of the end of the reference quarter, with more detailed and final data released approximately 70 days after the end of the reference period.