Ireland reported the biggest decline in GDP in the EU in the first quarter of 2026

Ireland reported a 2.0% decline in GDP in the first quarter of 2026, compared to the previous quarter, the biggest decline of all EU member states, new data from Eurostat has revealed.

Other countries to report a notable decline on a quarter-on-quarter basis included Lithuania (-0.4%) and Sweden (-0.2%).

At the other end of the scale, Finland reported the highest quarter-on-quarter increase in GDP, with a 2.0% gain, followed by Hungary (+0.8%), Estonia (+0.6%) and Spain (+0.6%).

GDP performance across Europe

In both the EU and the euro area, seasonally adjusted GDP increased by 0.1% in the first quarter compared with the previous three-month period, down from a 0.2% rise recorded in the final quarter of 2025.

On an annual basis, meanwhile, GDP grew by 0.8% in the euro area and 1.0% across the EU. This represents a decline from the previous quarter, when year-on-year growth reached 1.3% and 1.4% respectively.

The data is based on a preliminary flash estimate compiled from incomplete national sources and is subject to revision as more comprehensive information becomes available. Eurostat added that the estimate covers 96% of euro area GDP and 94% of EU GDP. Read more here.

Gross Domestic Product (GDP) – Q4 2025 (Index)

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