Interesting. What do you reckon is the cause Europe's flatline growth in GDP ? More internal trades? Import tariffs or their Value Added Tax in Europe is crazy high like 16% - 25% . Even if the product is cheap, they have to sell at a more expensive price in their country to recoup some profit margin. Hence it might be cheaper to advance internal trade which would impact GDP calculations.
Discussion
Based on what I'm seeing, it's a combination of exchange rates (USD got stronger over that time) and flatter population growth in Europe.
If you make the same comparison using GDP per capita in PPP to account for the exchange rate changes, it isn't as large of a difference.
High energy costs, possibly