Long-Term GDP by EU State, First Quarter 2019

Sep 25, 2019
Long-Term Gross Domestic Product in EU States

The chart above shows the annualized nominal gross domestic product (GDP) in each EU state as of the first quarter of 2019 in millions of euros, the change from five years ago, and the GDP ten years prior.  Germany's economy grew more over the past five years than 21 states' entire GDP.

Findings

  • The difference between the state with the largest GDP, Germany, and the state with the smallest, Malta, is €3,395,876.80 million (up from €2,896,276.40 million five years ago and up from €2,409,469.60 million ten years ago).  Germany and Malta had the largest and smallest GDP respectively both five and ten years ago.
  • Germany has 266.49 times the GDP that Malta does.  The ratio of largest GDP to smallest GDP was down from 354.57 five years ago and down from 402.42 ten years ago.
  • The median GDP in the 28 EU states is €214,210.40 million (up from €174,891.20 million five years ago and up from €173,796.00 ten years ago) and the mean €578,897.11 million (up from €495,871.69 five years ago and up from €435,835.46 ten years ago).
  • All 28 states saw their GDP rise over the past five years.
  • Twenty-seven states saw their nominal GDP rise over the past ten years while one saw its GDP decline.

Caveats

  • Data is from the first quarters of 2019, 2014, and 2009.
  • 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

In absolute terms, Cyprus saw the smallest increase over the past five years with a rise of €3,577.20 million.  Germany had the largest growth with a gain of €504,200.00 million.  Over the past ten years, Greece had the largest decrease with a drop of €48,082.00 million while Germany had the greatest increase with a gain of €993,196.00 million.

In relative terms, Greece had the smallest increase over the past five years with a 4.58% rise in GDP while Ireland had the greatest increase with a 79.70% rise in GDP.  Over the past ten years, Greece had the largest decrease with a 20.55% drop in GDP while Malta had the largest growth with a 113.10% rise in GDP.

There were 17 states with a GDP of over €100,000 million ten years ago, 18 states five years ago, and 18 states now.  On the flip side, there were nine states with a GDP of less than €50,000 million ten years ago, nine states five years ago, and six states now.

Ireland (from 13th largest GDP to 11th largest GDP), Czechia (from 16th to 14th), and Romania (from 17th to 15th) overcame the most states in the five year period each surpassing two.  Conversely, Greece (from 14th to 17th) was surpassed by three states in the five year period.  Over the past ten years, Ireland (from 14th to 11th) surpassed three states, while Greece (from 11th to 17th) was surpassed by six.

Data

StateFirst Quarter 2009First Quarter 2014First Quarter 2019
Austria287,768.8329,929.2394,320.8
Belgium345,636397,592457,880
Bulgaria37,410.841,185.259,207.6
Croatia44,564.843,086.852,980
Cyprus18,617.617,715.621,292.8
Czechia144,341.6153,394216,239.2
Denmark232,714.8262,458303,478
Estonia14,767.219,779.227,464
Finland181,432203,948236,564
France1,937,9482,139,6722,397,648
Germany2,415,4722,904,4683,408,668
Greece233,988.4177,760185,906.4
Hungary89,610.4103,895.2140,786.8
Ireland174,192.4187,826.8337,518
Italy1,567,935.21,622,058.41,767,761.6
Latvia20,445.223,454.830,651.2
Lithuania28,225.636,388.447,175.2
Luxembourg36,50248,558.459,867.2
Malta6,002.48,191.612,791.2
Netherlands630,853.6668,475.6797,393.2
Poland300,487.6405,544512,755.6
Portugal173,399.6172,022.4207,198.8
Romania117,415.2144,759.2212,181.6
Slovakia62,879.675,242.893,454.4
Slovenia36,273.637,362.447,704
Spain1,076,8281,025,0801,221,364
Sweden302,502.4441,543.2478,570.4
United Kingdom1,685,1782,193,0162,480,297.2

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.

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