Emerging Europe economies growing at record-high rates in Q3'2017: Romania +8.6%, Latvia +6.2%, Czech +5%, Poland +5%, Bulgaria +3.9%
Growth in Emerging Europe keeps accelerating further with Eurostat data on Q3 GDP growth in the European Union revealing that the region is still the growth engine of Europe. All EU members from Emerging Europe posted higher than the average for the euro-zone reading with 5 of the countries occupying the top 5 positions. Romania is once again the top performer in Europe with its 8.6% Y-o-Y GDP growth in Q3’2017. The economies of Poland and the Czech Republic speed up too, both growing by 5% Y-o-Y. Bulgaria is among the top performers as well (+3.9%).
At the same time the average growth of the EU accelerated to 2.5% Y-o-Y in the third quarter (compared to 2.3% in Q2). Therefore we remain upbeat on the development of the region in the next quarters as well, due to the tight trading links.
GDP growth , YoY | Q1'2017 | Q2'2017 | Q3'2017 |
Romania | 5.80% | 6.10% | 8.60% |
Latvia | 4.20% | 4.80% | 6.20% |
Czech Republic | 3.00% | 4.70% | 5.00% |
Poland | 4.40% | 4.20% | 5.00% |
Bulgaria | 3.70% | 3.70% | 3.90% |
Cyprus | 3.70% | 3.90% | 3.90% |
Hungary | 3.90% | 3.60% | 3.80% |
Finland | 2.90% | 3.10% | 3.60% |
Lithuania | 4.20% | 4.10% | 3.40% |
Slovakia | 3.10% | 3.40% | 3.40% |
Netherlands | 2.70% | 3.80% | 3.30% |
Spain | 3.00% | 3.10% | 3.10% |
Austria | 2.50% | 2.90% | 3.10% |
Germany | 2.10% | 2.30% | 2.80% |
Portugal | 2.80% | 3.00% | 2.50% |
EU, average | 2.00% | 2.30% | 2.50% |
Euro-area, average | 2.10% | 2.40% | 2.50% |
France | 1.10% | 1.80% | 2.20% |
Belgium | 1.80% | 1.50% | 1.70% |
UK | 1.80% | 1.50% | 1.50% |
Denmark | 2.40% | 2.70% | 1.10% |
Sweden | 2.20% | 3.00% | n.a |
Italy | 1.20% | 1.50% | n.a |
Estonia | 4.30% | 5.20% | n.a |