EU GDP by State, First Quarter 2020

The chart above shows the annualized nominal gross domestic product (GDP) in each EU state as of the first quarter of 2020 in millions of euros, the change from the previous quarter, and the GDP one year prior.  Poland, Sweden, Ireland, Bulgaria, and Cyprus are the only states to see a rise from the previous quarter.

Findings

• The difference between the state with the largest GDP, Germany, and the state with the smallest, Malta, is €3,405,001.20 million (down from €3,457,990.00 million last quarter and up from €3,402,500.40 million last year).  Germany and Malta had the largest and smallest GDP respectively both last quarter and last year.
• Germany has 257.50 times the GDP that Malta does.  The ratio of largest GDP to smallest GDP was up from 256.28 last quarter and down from 262.90 last year.
• The median GDP in the 28 EU states is €223,448.80 million (down from €227,948.40 million last quarter and up from €215,915.80 last year) and the mean €580,213.54 million (down from €595,133.97 the previous quarter and down from €582,794.17 last year).
• Five states saw their nominal GDP rise from the previous quarter while 23 saw it drop.
• Sixteen states saw their nominal GDP rise from last year while 12 saw it drop.

Caveats

• Data is from the first quarter of 2019, the fourth quarter of 2019, and the first quarter of 2020.
• 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, France saw the largest decrease over the previous quarter with a drop of €106,568.00 million.  Ireland had the largest growth with a gain of €5,307.60 million.  Year over year, Italy had the largest decrease with a drop of €82,254.80 million while the United Kingdom had the greatest increase with a gain of €38,120.40 million.

In relative terms, Italy had the largest decrease over the previous quarter with a 5.16% drop in GDP while Ireland had the greatest increase with a 1.50% rise in GDP.  Year over year, Italy had the largest decrease with a 4.61% drop in GDP while Ireland had the largest growth with a 6.10% rise in GDP.

Germany accounted for over one-fifth of the economic output of the 28 states at 21.04%.  It, with the United Kingdom accounted for just over one-third of the economic output of the 28 states at 36.77%.  Adding in France amounts to just over half the economic output of the 28 states at 51.15%.

Sweden (from 9th to 8th largest GDP) surpassed one state over the previous quarter.  Belgium (from 8th to 9th) was bested by one state.  Year over year, Romania (from 15th to 14th) and Lithuania (from 24th to 23rd) each surpassed one state while Czechia (from 14th to 15th) and Slovenia (from 23rd to 24th) were each bested by one.

Data

State	First Quarter 2019	Fourth Quarter 2019	First Quarter 2020
Austria	396,332	401,066	391,862
Belgium	467,420	479,640	460,616
Bulgaria	60,047.6	61,718	62,009.6
Croatia	53,347.6	54,459.2	54,034.8
Cyprus	21,749.6	22,030.4	22,068.4
Czechia	216,223.2	225,576	220,041.2
Denmark	306,007.6	312,993.6	311,104
Estonia	27,431.6	28,614.8	27,511.2
Finland	237,444	241,812	239,584
France	2,409,328	2,441,940	2,335,372
Germany	3,415,492	3,471,536	3,418,276
Greece	186,173.2	186,357.6	181,304.4
Hungary	142,984	144,673.2	142,258
Ireland	338,855.6	354,232.4	359,540
Italy	1,782,920	1,793,201.2	1,700,665.2
Latvia	30,159.2	30,663.2	30,102.4
Lithuania	47,329.6	49,778.4	49,351.6
Luxembourg	61,656	64,660.8	63,297.2
Malta	12,991.6	13,546	13,274.8
Netherlands	798,159.6	822,780.4	814,026.8
Poland	514,858	541,306.4	543,302.4
Portugal	210,643.2	214,808	209,132
Romania	215,608.4	230,320.8	226,856.4
Slovakia	92,736.8	95,851.2	91,741.6
Slovenia	47,600.4	48,801.6	46,808
Spain	1,229,480	1,262,840	1,198,644
Sweden	477,400.4	475,849.2	477,217.2
United Kingdom	2,517,857.6	2,592,694.8	2,555,978

Sources

Eurostat.  2020.  "GDP and Main Components."  Accessed July 15, 2020.  https://appsso.eurostat.ec.europa.eu/nui/show.do?query=BOOKMARK_DS-406779_QID_-65D7EB62_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.