The chart above shows the annualized nominal gross domestic product (GDP) quarterly growth rate in each EU state as of the first quarter of 2019 and the growth rate from one year prior. All states grew both over the previous quarter and year-over-year.
Findings
- The difference between the state with the largest annualized quarterly growth rate, Bulgaria, and the state with the smallest, Luxembourg, is 22.56 percentage points.
- The difference between the state with the largest year-over-year growth rate, Bulgaria, and the state with the smallest, Sweden, is 10.33 percentage points.
- The median annualized quarterly growth rate in the 28 EU states is 4.62% and the mean 5.91%.
- The median year-over-year growth rate in the 28 EU states is 4.41% and the mean 4.88%.
- Eighteen states' economies grew faster over the previous quarter than they did over the same quarter last year. The remaining 10 states saw their economies grow slower over the previous quarter than they did over the same quarter last year.
Caveats
- Data is from the first quarter of 2019, the fourth quarter of 2018, and the first quarter of 2018.
- The data is 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
Luxembourg had the smallest growth over the previous quarter with an annualized gain of 0.28%. Bulgaria had the largest growth with an annualized gain of 22.84%.
Year over year, Sweden had the smallest growth with a 0.27% gain in GDP while Bulgaria had the largest growth with a 10.60% rise in GDP.
Romania saw the largest decrease in its growth rate between its year-over-year growth and its annualized quarterly growth slowing its rate by 5.60 percentage points. Bulgaria had the largest increase in its growth rate between its year-over-year growth and its annualized quarterly growth ramping up its rate by 12.24 percentage points.
Poland went from having the 18th largest growth rate over the same quarter last year to the 7th largest growth rate over the previous quarter. Conversely, Malta went from having the 5th highest growth rate over the same quarter last year to the 20th highest growth rate over the previous quarter. Only two states had growth rates in the top five both over the same quarter last year and over the previous quarter: Bulgaria (highest growth year-over year, highest growth over the previous quarter) and Hungary (4th highest year-over-year, 2nd highest quarterly). Three states had growth rates in the bottom five both over the same quarter last year and over the previous quarter: Italy (27th highest year-over-year, 23rd highest quarterly), Sweden (28th highest year-over-year, 24th highest quarterly), and Belgium (24th highest year-over-year, 26th highest quarterly).
Sources
Eurostat. 2019. "GDP and Main Components." Accessed August 19, 2019. https://appsso.eurostat.ec.europa.eu/nui/show.do?query=BOOKMARK_DS-406779_QID_-64A128D_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-406779S_ADJ,SCA;DS-406779NA_ITEM,B1GQ;&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.