Eurostat statistics:

The Statistical Office of the European Union has released the final data on the development of the economies of the Member States in the first quarter of this year. Ireland was the country with the fastest GDP appreciation (+10.8%) in Q1 2022 compared to Q4 2021, followed by Romania (+5.2%) and Latvia (+3.6%).

In contrast, the largest declines were recorded in Sweden (-0.8%), France (-0.2%) and Denmark (-0.1%). Eurostat released partial data last month, when it calculated Romania as having the highest growth, as no data were available for Ireland.

The results came amid rising EU bloc exports, but the effects of the war started by Russia on 24 February are expected to be felt much more in the coming period.