The chart above shows the GDP and change in GDP over the last year in EU and US states in US dollars. Although Germany had less than half the relative growth rate of Romania, it had the largest absolute growth of all the states.
Findings
- The difference between the state with the greatest absolute growth in GDP, Germany, and the state with the least, Alaska, is $214,845,400,000.
- Germany has 1821.72 times the absolute economic growth that Alaska does in the past year.
- The difference between the state with the greatest relative growth in GDP, Romania, and the state with the least, Alaska, is 12.92 percentage points.
- Romania has 52.41 times the relative economic growth rate that Alaska does in the past year.
- The United Kingdom, Kansas, Connecticut, and Louisiana were the only states whose economy contracted in the past year.
- Spain overtook New York to become the seventh largest economy in the EU and US.
- Poland overtook New Jersey to become the 15th largest economy in the EU and US.
- Ireland overtook Denmark to become the 26th largest economy in the EU and US.
- Portugal and the Czech Republic surpassed Louisiana and Oregon.
- Romania surpassed Louisiana, Oregon, and Greece.
- Oregon overtook Louisiana.
- Utah overtook Kansas.
- Hungary overtook Kansas and Nevada.
- Luxembourg overtook Idaho and Delaware.
- Croatia overtook Maine.
- Slovenia overtook North Dakota and Alaska.
- Lithuania overtook Alaska.
- Montana overtook South Dakota.
Caveats
- All percentages are rounded to the nearest hundredth.
- EU and US data come from different sources.
- EU data was converted from euros to dollars at the average 2016 0.90 euros to dollars rate and the 2017 0.88 euros to dollars rate.
Details
No US states surpassed EU states' economies last year. All changes were either between EU states, US states, or EU states overcoming US states which stands in stark contrast to the previous ten years where almost no EU states surpassed US states' economies.
The European Union as a whole grew by US $855,579 million last year for a growth rate of 5.17%. The United States as a whole grew by $336,466 million last year for a growth rate of 2.07%.
Sources
Eurostat. 2018. "Eurostat - Tables, Graphs and Maps Interface." Accessed June 26, 2018. http://ec.europa.eu/eurostat/tgm/table.do?tab=table&init=1&language=en&pcode=tec00001&plugin=1.
US Department of Commerce. 2018. "US Bureau of Economic Analysis." Accessed June 26, 2018. https://bea.gov/itable/iTable.cfm?ReqID=70&step=1#reqid=70&step=10&isuri=1&7003=1000&7035=-1&7004=naics&7005=1&7006=01000,02000,04000,05000,06000,08000,09000,10000,11000,12000,13000,15000,16000,17000,18000,19000,20000,21000,22000,23000,24000,25000,26000,27000,28000,29000,30000,31000,32000,33000,34000,35000,36000,37000,38000,39000,40000,41000,42000,44000,45000,46000,47000,48000,49000,50000,51000,53000,54000,55000,56000&7036=-1&7001=11000&7002=1&7090=70&7007=2017,2016,2015,2014,2013,2012,2011,2010,2009,2008,2007,2006&7093=levels.