The chart above shows the regional economies of the European Union. The largest regional economy, Western Europe completely dominates the EU's economy.
Findings
- Only Eastern Europe is outranked by a region with fewer states.
- Germany accounts for under one-third of Western Europe's GDP.
- Italy accounts for over one-half of Southern Europe's GDP.
- Poland accounts for over one-third of the Eastern Europe's GDP.
- Sweden accounts for under one-half of the Northern Europe's GDP.
Caveats
- The data is from 2016.
- Western Europe consists of (in descending order of GDP) Germany, United Kingdom, France, Netherlands, Belgium, Austria, Ireland, and Luxembourg.
- Southern Europe consists of (in descending order of GDP) Italy, Spain, Portugal, Greece, Cyprus, and Malta.
- Eastern Europe consists of (in descending order of GDP) Poland, Czech Republic, Romania, Hungary, Slovakia, Bulgaria, Croatia, Slovenia, Lithuania, Latvia, and Estonia.
- Northern Europe consists of (in descending order of GDP) Sweden, Denmark, and Finland.
Details
Unlike in the United States there is a large disparity between the regions of the EU when it comes to their GDP. In addition, just like in the US each region has one state that dominates the region's economy.
According to this data, the total PPP GDP for the EU is €14,904,775,000,000.
Sources
Eurostat. 2017. "Gross Domestic Product at Market Prices. Accessed October 26, 2017. http://ec.europa.eu/eurostat/tgm/refreshTableAction.do?tab=table&plugin=1&pcode=tec00001&language=en.