Brussels: The eurozone and EU economies experienced a 0.6% quarter-on-quarter growth in the first quarter of this year, as announced by Eurostat. This figure exceeded market expectations and was above Eurostat’s preliminary estimate of a 0.3% growth released last month.

According to Anadolu Agency, the positive growth in GDP was largely influenced by an increase in exports, which rose by 1.9% in the eurozone. Investments also saw an upward trend, increasing by 1.8% in both the euro area and the EU, following previous growth rates of 0.7% and 0.6% respectively.

Among the member states, Ireland recorded the highest quarterly increase with a significant 9.7% growth, followed by Malta with a 2.1% rise and the Greek Cypriot with a 1.3% increase. Conversely, Luxembourg’s economy contracted by 1%, marking the largest shrinkage, followed by Slovenia with a reduction of 0.8%, and Denmark and Portugal both experiencing a 0.5% decrease.

On an annual basis, the euro area reported a GDP growth rate of 1.5%, while the E
U saw a slightly higher growth rate of 1.6%, as per Eurostat’s data. Employment in the euro area also rose by 0.2% on a quarterly basis in the first quarter of 2025, while there was no change in employment figures for the EU.

In terms of year-on-year employment growth, the eurozone saw an increase of 0.7%, whereas the EU’s employment figures grew by 0.4% in the first quarter. The eurozone, or EA20, includes member states that utilize the euro as their currency, while the EU27 encompasses all member countries within the bloc.