The chart above shows the annualized nominal gross domestic product (GDP) in each EU state as of the fourth quarter of 2019 in millions of euros, the change from the previous quarter, and the GDP one year prior. Sweden, Finland, and Greece are the only states to see a drop either from the previous quarter or the previous year.
Findings
- The difference between the state with the largest GDP, Germany, and the state with the smallest, Malta, is €3,462,939.20 million (up from €3,434,777.20 million last quarter and up from €3,372,398.40 million last year). Germany and Malta had the largest and smallest GDP respectively both last quarter and last year.
- Germany has 255.99 times the GDP that Malta does. The ratio of largest GDP to smallest GDP was down from 258.73 last quarter and down from 266.26 last year.
- The median GDP in the 28 EU states is €228,320.00 million (up from €222,812.80 million last quarter and up from €211,127.80 last year) and the mean €595,218.53 million (up from €587,077.49 the previous quarter and up from €574,824.71 last year).
- Twenty-six states saw their nominal GDP rise from the previous quarter while two saw it drop.
- Twenty-seven states saw their nominal GDP rise from last year while one saw it drop.
Caveats
- Data is from the fourth quarter of 2019, the third quarter of 2019, and the fourth quarter of 2018.
- 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, Greece saw the largest decrease over the previous quarter with a drop of €1,588.80 million. The United Kingdom had the largest growth with a gain of €121,532.80 million. Year over year, Sweden had the largest decrease with a drop of €577.20 million while Germany had the greatest increase with a gain of €145,755.60 million.
In relative terms, Greece had the largest decrease over the previous quarter with a 0.85% drop in GDP while the United Kingdom had the greatest increase with a 4.92% rise in GDP. Year over year, Sweden had the largest decrease with a 0.12% drop in GDP while Romania had the largest growth with a 9.27% rise in GDP.
Germany accounted for over one-fifth of the economic output of the 28 states at 20.86%. It, with the United Kingdom accounted for just over one-third of the economic output of the 28 states at 36.41%. Adding in France amounts to just over half the economic output of the 28 states at 51.02%.
There were no changes in rank over the previous quarter. Year over year, Belgium (from 9th to 8th) and Lithuania (from 24th to 23rd) each surpassed one state while Sweden (from 8th to 9th) and Slovenia (from 23rd to 24th) were each bested by one.
Data
| State | Fourth Quarter 2018 | Third Quarter 2019 | Fourth Quarter 2019 |
|---|---|---|---|
| Austria | 391,748.8 | 399,587.6 | 402,043.2 |
| Belgium | 467,644 | 474,804 | 480,388 |
| Bulgaria | 57,251.2 | 60,032.8 | 61,718 |
| Croatia | 52,296 | 54,363.6 | 54,508 |
| Cyprus | 21,302.8 | 22,008.4 | 22,104.8 |
| Czechia | 210,800.8 | 221,046.4 | 225,576 |
| Denmark | 306,264.8 | 313,032 | 314,811.2 |
| Estonia | 27,026.4 | 28,212 | 28,612.8 |
| Finland | 236,304 | 241,368 | 241,236 |
| France | 2,377,892 | 2,428,764 | 2,435,972 |
| Germany | 3,385,112 | 3,448,104 | 3,476,520 |
| Greece | 185,918.4 | 187,533.2 | 185,944.4 |
| Hungary | 137,056.4 | 144,138.8 | 145,190.8 |
| Ireland | 328,494.8 | 351,522.4 | 354,700.8 |
| Italy | 1,769,458.4 | 1,790,693.2 | 1,792,866.8 |
| Latvia | 29,961.6 | 30,625.6 | 30,663.2 |
| Lithuania | 46,874.4 | 48,616 | 49,605.2 |
| Luxembourg | 60,707.2 | 64,221.2 | 64,501.6 |
| Malta | 12,713.6 | 13,326.8 | 13,580.8 |
| Netherlands | 787,789.6 | 816,222.8 | 824,501.2 |
| Poland | 503,278.4 | 529,343.6 | 539,459.6 |
| Portugal | 206,843.6 | 213,074.4 | 214,860 |
| Romania | 211,454.8 | 224,579.2 | 231,064 |
| Slovakia | 91,395.2 | 94,456 | 95,821.6 |
| Slovenia | 46,906 | 48,414 | 48,801.6 |
| Spain | 1,219,548 | 1,247,528 | 1,262,840 |
| Sweden | 477,921.6 | 473,201.6 | 477,344.4 |
| United Kingdom | 2,445,127.2 | 2,469,350 | 2,590,882.8 |
Sources
Eurostat. 2020. "GDP and Main Components." Accessed April 22, 2020. https://appsso.eurostat.ec.europa.eu/nui/show.do?query=BOOKMARK_DS-406779_QID_265259FB_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.