Europe Economic Forecast

Today, countries that are members of the European Union are trying hard to reduce cost for imports and exports, adopt a better standard of living, and agree to a common currency. Although not all countries in Europe are members of the European Union, this government has a goal of increasing trade throughout Europe while enhancing power politically and economically. People need to remember that economic differences are seen for each country that is a member of the European Union, which means facing different challenges but also enjoying different successes.

Today, countries that are members of the European Union are trying hard to reduce cost for imports and exports, adopt a better standard of living, and agree to a common currency. Although not all countries in Europe are members of the European Union, this government has a goal of increasing trade throughout Europe while enhancing power politically and economically. People need to remember that economic differences are seen for each country that is a member of the European Union, which means facing different challenges but also enjoying different successes.

A prime example would be the countries of France and Germany. Over the past seven years, these two countries have decided not to follow the treaty obligation for each state as a means of preventing government budgets from growing higher than 3% of the deficit. Many of the countries within the European Union are considered technologically advanced and economically sound but some of the newer countries becoming members are not quite as advanced. However, the goal of this government is to create a strong economy overall for all countries.

Europe GDP Forecast

Pertaining to the Europe GDP (Gross Domestic Product, Current Prices, US Dollars), the values for the European Union are based on national currency, as well as exchange rate projections. At the end of 2008, numbers were at $18,387 billion in US currency, followed by a reduction of 10.55%. With that, 2009 closed out with a GDP at $16,447.26 billion. Now for the 2010 forecast, experts believe the numbers will be virtually unchanged, closing the year at $16,543.22 billion. By 2015, the change will be somewhat greater, putting the GDP for the European Union at $19,482.08 billion in US dollars.

Europe Unemployment Forecast

As mentioned, numbers for the Europe population and Europe unemployment rate vary depending on the actual country. Some of the member countries have stagnant populations while others are fast growing. The same is true for unemployment in that some countries have high rates while some countries have been able to improve unemployment problems with financial aid, reform, and new programs.

Europe Inflation Rate Forecast

The way experts determine the Europe inflation rate for the European Union is by using averages for the year. In 2008, the inflation rate was at 3.68%, followed by a reduction of 75.03% during the following year. At that time, 2009 closed out with an inflation rate of 0.918%. By the end of 2010, experts expect an increase around 67.76%, which would close that year out at 1.54%. Then for the inflation rate at the end of 2015, no significant change is anticipated, ending the year with an inflation rate of 1.987%.

Europe Current Account Balance Forecast

The European Union also keeps close track of the Europe current account balance, which helps determine current spending and necessary budgeting. For this, major classifications of goods, services, current transfers, and income are used. The year 2008 had an account balance of minus $196.07 billion in US dollars. With a reduction of 74.60%, 2009 ended with an account balance of minus $49.803 billion. For 2010, experts predict only a slight change, which would close the year out at minus $34.32 billion in US dollars. However, from 2010 to year-end 2015, a larger change is being predicted, which would put the current account balance for the Europe Union at minus $64.142 billion.