Eurozone

The Euro area or “Eurozone” is a monetary union of 19 states, which adopted the euro as their common currency. Eurozone is the 3rd largest economy in the world (by nominal GDP) and is one of the world’s largest exporters of manufactured goods and services, and is itself the biggest export market for around 70 countries. Around 30% of Eurozone’s merchandise exports are directed to three markets (United States, China and Switzerland). The central bank, the European Central Bank (ECB), has no explicitly stated nominal anchor, but rather monitors various indicators (including, inflation) in conducting its monetary policy. ECB also maintains a free-floating exchange rate regime. Economic weaknesses include: individual fiscal policies despite a common monetary policy, high external debt of some of the member states, low productivity growth, rigid labour markets, excessive red tape and regulations.

Names and Codes
Country Name Eurozone
Country code EMU
Currency Name Euro
Currency Code EUR
Currency Symbol
Subunit €1 = 100 cents
Key Pair EUR/USD
Forex Quote indirect
Central Bank Name European Central Bank
Central Bank Abb. ECB
Economy and Trade
GDP (USD billion, 2017) 11299
GDP per capita (USD, PPP, 2017) 46850
Real GDP growth (2013-17) 1.5
Inflation (2013-17) 0.9
FDI inflows (% GDP, 2013-17) 4.1
Current account balance (% GDP, 2013-17) 3.0
Trade (% GDP, 2014-16) 16.8
Share in world total exports (%, 2016) 15.44
Monetary Policy and Currency
Exchange rate regime Free floating
Monetary policy Other*
Price stability
Real Interest Rate -1.50
Currency - global turnover (USD billion, 2016) 1591
Currency - global share (%, 2016) 31.40
Key Pair - global turnover (USD billion, 2016) 1172
Key Pair - global share (%, 2016) 23.10
Ranking - Economy
GDP per capita (USD, PPP, 2017)
Real GDP growth (2013-17)
Current account balance (% GDP, 2013-17)
Trade (% GDP, 2014-16)
Ranking - Currency and Monetary Policy
Currency - global turnover (USD billion, 2016)
Key Pair - global turnover (USD billion, 2016)
Real Interest Rate
Inflation (2013-17)
International Trade
Main Export (%, 2015)
Main Import (%, 2015)