The chart above shows the annualized nominal gross domestic product (GDP) in each EU state as of the second quarter of 2021 in millions of euros, the change from the previous quarter, and the GDP one year prior. Only Bulgaria and Malta contracted over the previous quarter.
Findings
- The difference between the state with the largest GDP, Germany, and the state with the smallest, Malta, is €3,461,128.40 million (up from €3,413,124.00 million last quarter and up from €3,130,069.60 million last year). Germany and Malta had the largest and smallest GDP respectively both last quarter and last year.
- Germany has 256.03 times the GDP that Malta does. The ratio of largest GDP to smallest GDP was up from 247.83 last quarter and down from 266.39 last year.
- The median GDP in the 28 EU states is €235,669.00 million (up from €229,205.60 million last quarter and up from €198,560.00 last year) and the mean €601,465.26 million (up from €583,388.24 the previous quarter and up from €516,354.56 last year).
- Of the 28 states, 26 saw a rise of GDP in current euros from the previous quarter while 2 saw a contraction.
- Of the 28 states, 28 saw a rise of GDP in current euros from last year while 0 saw a contraction.
Caveats
- Data is from the second quarter of 2021, the first quarter of 2020, and the second quarter of 2021.
- The data is seasonally and calendar adjusted in current euros except for Slovakia which is only seasonally adjusted in current euros.
- The data is annualized by multiplying the quarterly figure by four.
- All figures are rounded to the nearest hundredth.
Details
In absolute terms, Malta had the worst performance over the previous quarter with a drop of €256.40 million. The United Kingdom had the best performance with a gain of €198,566.00 million. Year over year, Malta had the worst performance with a gain of €1,777.20 million while the United Kingdom had the best performance with a gain of €534,496.40 million.
In relative terms, Malta had the worst performance over the previous quarter with a 1.85% drop in GDP while the United Kingdom had the best performance with a 8.00% gain in GDP. Year over year, Finland had the worst performance with a 8.71% gain in GDP while the United Kingdom had the best performance with a 24.89% gain in GDP.
Germany accounted for over one-fifth of the economic output of the 28 states at 20.63%. It, with the United Kingdom accounted for just over one-third of the economic output of the 28 states at 36.55%. Adding in France amounts to just over half the economic output of the 28 states at 51.03%.
There were no changes in GDP rank over the previous quarter. Year over year, Croatia (from 23rd to 22nd) rose 1 spot while Lithuania (from 22nd to 23rd) fell 1 spot.
Data
| State | Second Quarter 2021 | First Quarter 2020 | Second Quarter 2021 |
|---|---|---|---|
| Austria | 351,591.6 | 381,833.2 | 398824 |
| Belgium | 413328 | 484204 | 496840 |
| Bulgaria | 57,367.2 | 64,770.4 | 64,610.8 |
| Croatia | 44,961.6 | 53,943.2 | 54,388.8 |
| Cyprus | 19658 | 22296 | 22,776.8 |
| Czechia | 197818 | 225,879.6 | 235360 |
| Denmark | 296,510.8 | 321,137.6 | 332,804.4 |
| Estonia | 25,244.8 | 28,762.4 | 29,578.4 |
| Finland | 227632 | 240944 | 247468 |
| France | 2095692 | 2407732 | 2436960 |
| Germany | 3141864 | 3426952 | 3474700 |
| Greece | 154,517.6 | 173,707.6 | 179,275.2 |
| Hungary | 124,799.2 | 143,493.6 | 152324 |
| Ireland | 354,584.4 | 404,164.8 | 420,993.2 |
| Italy | 1,493,663.6 | 1,706,918.8 | 1,760,745.6 |
| Latvia | 27,776.4 | 31,243.6 | 32,346.8 |
| Lithuania | 47,352.4 | 51724 | 53528 |
| Luxembourg | 60,487.2 | 69,923.2 | 70920 |
| Malta | 11,794.4 | 13828 | 13,571.6 |
| Netherlands | 747,808.4 | 815,435.6 | 847,364.8 |
| Poland | 480146 | 542318 | 553,166.4 |
| Portugal | 181,181.2 | 200,953.2 | 208,432.4 |
| Romania | 199302 | 232,531.6 | 235978 |
| Slovakia | 85,864.4 | 93,408.8 | 96,466.4 |
| Slovenia | 43,085.2 | 49462 | 50768 |
| Spain | 983404 | 1150196 | 1168236 |
| Sweden | 443,386.4 | 514,070.4 | 520,996.4 |
| United Kingdom | 2,147,106.8 | 2,483,037.2 | 2,681,603.2 |
Sources
Eurostat. 2021. "GDP and Main Components." Accessed October 26, 2021. https://appsso.eurostat.ec.europa.eu/nui/show.do?query=BOOKMARK_DS-406779_QID_319D4A03_UID_-3F171EB0&layout=TIME,C,X,0;GEO,L,Y,0;UNIT,L,Z,0;S_ADJ,L,Z,1;NA_ITEM,L,Z,2;INDICATORS,C,Z,3;&zSelection=DS-406779UNIT,CP_MEUR;DS-406779INDICATORS,OBS_FLAG;DS-406779NA_ITEM,B1GQ;DS-406779S_ADJ,SCA;&rankName1=UNIT_1_2_-1_2&rankName2=INDICATORS_1_2_-1_2&rankName3=NA-ITEM_1_2_-1_2&rankName4=S-ADJ_1_2_-1_2&rankName5=TIME_1_0_0_0&rankName6=GEO_1_2_0_1&sortC=ASC_-1_FIRST&rStp=&cStp=&rDCh=&cDCh=&rDM=true&cDM=true&footnes=false&empty=false&wai=false&time_mode=NONE&time_most_recent=false&lang=EN&cfo=%23%23%23%2C%23%23%23.%23%23%23.
Federal Reserve. 2021. "Foreign Exchange Rates." Accessed October 26, 2021. https://www.federalreserve.gov/releases/g5/.
Office for National Statistics. 2021. "Gross Domestic Product at market prices: Current price: Seasonally adjusted £m - Office for National Statistics." Accessed October 26, 2021. https://www.ons.gov.uk/economy/grossdomesticproductgdp/timeseries/ybha/ukea.