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 five years ago, and the GDP ten years prior. Germany's economy grew more over the past five years than 19 states' entire GDP.
Findings
- The difference between the state with the largest GDP, Germany, and the state with the smallest, Malta, is €3,423,021.20 million (up from €2,972,683.20 million five years ago and up from €2,493,651.60 million ten years ago). Germany and Malta had the largest and smallest GDP respectively both five and ten years ago.
- Germany has 258.86 times the GDP that Malta does. The ratio of largest GDP to smallest GDP was down from 321.58 five years ago and down from 385.32 ten years ago.
- The median GDP in the 28 EU states is €225,713.40 million (up from €177,581.20 million five years ago and up from €173,128.20 ten years ago) and the mean €580,584.27 million (up from €521,311.66 five years ago and up from €448,657.40 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 2020, 2015, and 2010.
- 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, Greece had the worst performance over the past five years with a rise of €3,860.40 million. Germany had the best performance with a gain of €454,340.00 million. Over the past ten years, Greece had the worst performance with a drop of €54,520.80 million while Germany had the best performance with a gain of €936,156.00 million.
In relative terms, the United Kingdom had the worst performance over the past five years with a 0.59% rise in GDP while Romania had the best performance with a 43.63% rise in GDP. Over the past ten years, Greece had the worst performance with a 23.12% drop in GDP while Ireland had the best performance with a 119.87% 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, eight states five years ago, and six states now.
Romania (from 17th to 14th) overcame the most states in the five year period surpassing three. Conversely, Portugal (from 14th to 16th) and Greece (from 15th to 17th) were each surpassed by two states in the five year period. Over the past ten years, Ireland (from 15th to 11th) surpassed four states, while Greece (from 12th to 17th) was surpassed by five.
Data
| State | First Quarter 2010 | First Quarter 2015 | First Quarter 2020 |
|---|---|---|---|
| Austria | 289,698.4 | 338,082.8 | 391,023.6 |
| Belgium | 354,944 | 411,480 | 459,756 |
| Bulgaria | 36,261.6 | 44,436 | 62,009.6 |
| Croatia | 45,041.6 | 43,871.2 | 54,034.8 |
| Cyprus | 19,224.4 | 17,519.2 | 22,068.4 |
| Czechia | 152,319.2 | 164,182 | 224,570.4 |
| Denmark | 238,746.4 | 272,075.2 | 311,104 |
| Estonia | 14,199.6 | 20,244 | 27,511.2 |
| Finland | 182,448 | 208,460 | 239,584 |
| France | 1,965,700 | 2,187,328 | 2,316,200 |
| Germany | 2,500,140 | 2,981,956 | 3,436,296 |
| Greece | 235,825.2 | 177,444 | 181,304.4 |
| Hungary | 99,279.2 | 110,010 | 142,258 |
| Ireland | 167,507.6 | 256,554 | 368,298.8 |
| Italy | 1,588,461.2 | 1,638,836.8 | 1,700,665.2 |
| Latvia | 17,558.4 | 24,031.2 | 30,102.4 |
| Lithuania | 27,161.6 | 36,764 | 49,289.2 |
| Luxembourg | 38,287.6 | 51,847.2 | 63,297.2 |
| Malta | 6,488.4 | 9,272.8 | 13,274.8 |
| Netherlands | 628,805.2 | 679,124.4 | 814,032 |
| Poland | 351,287.6 | 421,766.4 | 543,302.4 |
| Portugal | 178,748.8 | 177,718.4 | 209,132 |
| Romania | 122,387.6 | 157,944.8 | 226,856.4 |
| Slovakia | 66,652.8 | 78,578.4 | 91,741.6 |
| Slovenia | 35,629.6 | 38,292 | 46,808 |
| Spain | 1,072,124 | 1,063,392 | 1,198,644 |
| Sweden | 348,736.4 | 444,469.6 | 477,217.2 |
| United Kingdom | 1,778,742.8 | 2,541,046 | 2,555,978 |
Sources
Eurostat. 2020. "GDP and Main Components." Accessed August 20, 2020. https://appsso.eurostat.ec.europa.eu/nui/show.do?query=BOOKMARK_DS-406779_QID_-AF9872D_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.