Comparison of changes in volume of GDP in EU member states, Q1 2025 (expanded first estimate)

Released: 20 May 2025

The economic performance of the European Union increased by 1.4% – according to seasonally and calendar adjusted data – in the 1st quarter of 2025 compared to the same period of the previous year. Eurostat published the data for 21 member states on 15 May 2025, out of which the volume of GDP grew in 17 and lessened in four (Germany, Hungary, Austria and Slovenia) countries. The largest growth (of 11%) occurred in Ireland, where large multinational enterprises registered there sometimes cause outlying changes in GDP. Ireland was followed by Poland in the rankings, with growths of 3.8%. 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 and construction went on slowing the economic performance, however, services as a whole positively affected the volume of GDP.

Compared to the previous quarter, the volume of the EU’s GDP was up by 0.3% and that of Hungary’s lessened by 0.2%. In this respect in addition to Hungary, there was a decrease in Portugal and in Slovenia among the member states providing data.

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.