The chart above shows the per capita annualized nominal gross domestic product (GDP) in each EU region as of the first quarter of 2020 in euros, the change from five years ago, and the per capita GDP ten years prior. Every single region's economy grew both over the past five and past ten years.
Findings
- The difference between the region with the largest per capita GDP, the Northern EU, and the region with the smallest, the Eastern EU, is €36,139.63 (up from €34,519.60 five years ago and up from €28,552.28 ten years ago). The Northern and Eastern EU had the largest and smallest per capita GDP respectively both five and ten years ago.
- The Northern EU has 3.52 times the per capita GDP that the Eastern EU does. The ratio of largest per capita GDP to smallest per capita GDP was down from 4.16 five years ago and down from 4.08 ten years ago.
- All four regions saw a per capita GDP rise in current euros over the past five years.
- All four regions saw a per capita GDP rise in current euros over the past ten years.
Caveats
- Data is from the first quarters of 2010, 2015, and 2020.
- Census data is from 2001 and 2011.
- 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.
- The Eastern EU consists of Poland, Czech Republic, Romania, Hungary, Slovakia, Bulgaria, Croatia, Slovenia, Lithuania, Latvia, and Estonia.
- The Northern EU consists of Sweden, Denmark, and Finland.
- The Southern EU consists of Italy, Spain, Portugal, Greece, Cyprus, and Malta.
- The Western EU consists of Germany, United Kingdom, France, Netherlands, Belgium, Austria, Ireland, and Luxembourg.
Details
In absolute terms, the Southern EU had the worst performance over the past five years with a growth of €1,867.74. The Northern EU had the best performance with a gain of €5,056.16. Over the past ten years, the Southern EU had the worst performance with a gain of €1,738.35 while the Northern EU had the best performance with a gain of €12,675.95.
In relative terms, the Southern EU had the worst performance over the past five years with a 7.81% rise in per capita GDP while the Eastern EU had the best performance with a 31.43% rise in per capita GDP. Over the past ten years, the Southern EU had the worst performance with a 7.23% rise in per capita GDP while the Eastern EU had the best performance with a 54.84% rise in per capita GDP.
There were zero regions with a per capita GDP of over €40,000 ten years ago, one region five years ago, and two regions now. On the flip side, there were two regions with a per capita GDP of less than €25,000 ten years ago, two regions five years ago, and one region now.
The Eastern EU has a lower per capita GDP now than the Southern, Western, and Northern EU did ten years ago while the Southern EU has a lower per capita GDP now than the Western and Northern EU did ten years ago. The Eastern EU has a lower per capita GDP than the Southern, Western, and Northern EU did five years ago while the Southern EU has a lower per capita GDP than the Western and Northern EU did five years ago, and the Western EU has a lower per capita GDP than the Northern EU did five years ago.
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.
Eurostat. 2017. "Population change - Demographic balance and crude rates at national level." Accessed December 11, 2017. http://appsso.eurostat.ec.europa.eu/nui/show.do?query=BOOKMARK_DS-054722_QID_690C8C0A_UID_-3F171EB0&layout=TIME,C,X,0;GEO,L,Y,0;INDIC_DE,L,Z,0;INDICATORS,C,Z,1;&zSelection=DS-054722INDICATORS,OBS_FLAG;DS-054722INDIC_DE,JAN;&rankName1=INDICATORS_1_2_-1_2&rankName2=INDIC-DE_1_2_-1_2&rankName3=TIME_1_0_0_0&rankName4=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.