The chart above shows the regional economies of the European Union and the United States. Clearly wealth is distributed far more equally between regions in the US than it is in the EU.
Findings
- Western Europe is an economic powerhouse.
- However, the rest of Europe does not fare too well.
- The US GDP range between regions is $2,001,768,000,000.
- The EU GDP range between regions is $11,188,888,000,000.
- All regions have a dominant economy within them. See the separate EU and US reports for details.
Caveats
- The data is from 2016.
- Data for the EU and the US come from two different sources.
- EU data was converted from euros to dollars at the average 2016 0.77 euros to dollars rate.
- 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.
- The Southern US consists of (in descending order of GDP) Texas, Florida, Georgia, North Carolina, Virginia, Tennessee, Louisiana, South Carolina, Alabama, Kentucky, Oklahoma, Arkansas, Mississippi, and West Virginia.
- The Western US consists of (in descending order of GDP) California, Washington, Colorado, Arizona, Oregon, Utah, Nevada, New Mexico, Hawaii, Idaho, Alaska, Montana, and Wyoming.
- The Northeastern US consists of (in descending order of GDP) New York, Pennsylvania, New Jersey, Massachusetts, Maryland, Connecticut, New Hampshire, Delaware, Maine, Rhode Island, and Vermont.
- The Midwestern US consists of (in descending order of GDP) Illinois, Ohio, Michigan, Indiana, Minnesota, Wisconsin, Missouri, Iowa, Kansas, Nebraska, North Dakota, and South Dakota.
Details
It takes three US regions to catch up to the economic might of Western Europe. Western Europe has a GDP that is larger than the next two wealthiest regions combined.
According to this data, the total PPP GDP for the EU and the US is $37,686,330,000,000.
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.
US Bureau of Economic Analysis. 2017. "Regional Data." Accessed October 26, 2017. https://bea.gov/itable/iTable.cfm?ReqID=70&step=1#reqid=70&step=1&isuri=1.