The chart above shows the annualized nominal gross domestic product (GDP) in each EU state as of the second quarter of 2020 in millions of euros, the change from the previous quarter, and the GDP one year prior. Every single state had a decrease in GDP over the previous quarter and over the previous year.
Findings
- The difference between the state with the largest GDP, Germany, and the state with the smallest, Malta, is €3,118,141.20 million (down from €3,423,106.00 million last quarter and down from €3,421,363.20 million last year). Germany and Malta had the largest and smallest GDP respectively both last quarter and last year.
- Germany has 266.27 times the GDP that Malta does. The ratio of largest GDP to smallest GDP was up from 260.52 last quarter and up from 253.08 last year.
- The median GDP in the 28 EU states is €199,487.20 million (down from €222,870.40 million last quarter and down from €223,283.40 last year) and the mean €513,252.34 million (down from €581,510.70 the previous quarter and down from €587,029.00 last year).
- Zero states saw a rise of GDP in current dollars from the previous quarter. Twenty-eight saw a contraction.
- Zero states saw a rise of GDP in current dollars from last year. Twenty-eight states saw a contraction.
Caveats
- Data is from the second quarter of 2019, the first quarter of 2020, and the second 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, the United Kingdom had the worst performance over the previous quarter with a drop of €435,293.60 million. Malta had the best performance with a drop of €1,435.20 million. Year over year, the United kingdom had the worst performance with a drop of €377,389.20 million while Malta had the best performance with a drop of €1,818.00 million.
In relative terms, Croatia had the worst performance over the previous quarter with a 18.18% drop in GDP while Finland had the best performance with a 4.57% drop in GDP. Year over year, Spain had the worst performance with a 20.74% drop in GDP while Ireland had the best performance with a 1.61% drop in GDP.
Germany accounted for over one-fifth of the economic output of the 28 states at 21.78%. It, with the United Kingdom accounted for just over one-third of the economic output of the 28 states at 36.69%. Adding in France amounts to just over half the economic output of the 28 states at 51.00%.
Ireland (from 11th to 10th largest GDP), Romania (from 15th to 14th largest GDP), and Lithuania (from 23rd to 22nd largest GDP) each surpassed one state over the previous quarter. Austria (from 10th to 11th), Czechia (from 14th to 15th), and Croatia (from 22nd to 23rd) were each bested by one state. Year over year, Sweden (from 9th to 8th), Ireland (from 11th to 10th), and Lithuania (from 23rd to 22nd) each surpassed one state while Belgium (from 8th to 9th), Austria (from 10th to 11th), and Croatia (from 22nd to 23rd) were each bested by one.
Data
| State | Second Quarter 2019 | First Quarter 2019 | Second Quarter 2020 |
|---|---|---|---|
| Austria | 396,318.8 | 387,773.6 | 343,413.6 |
| Belgium | 471,352 | 459,756 | 405,104 |
| Bulgaria | 60,886 | 62,009.6 | 56,690.4 |
| Croatia | 53,564.4 | 54,040 | 44,214 |
| Cyprus | 21,933.6 | 21,929.6 | 18,774.4 |
| Czechia | 222,820 | 224,755.2 | 196,435.2 |
| Denmark | 311,563.2 | 312,980.8 | 292,753.6 |
| Estonia | 27,730 | 27,805.6 | 25,394 |
| Finland | 241,636 | 240,176 | 229,188 |
| France | 2,423,816 | 2,322,140 | 2,055,952 |
| Germany | 3,434,936 | 3,436,296 | 3,129,896 |
| Greece | 188,152 | 183,283.2 | 156,277.2 |
| Hungary | 145,886 | 144,629.6 | 123,601.6 |
| Ireland | 350,933.6 | 369,964 | 345,286.8 |
| Italy | 1,786,924.8 | 1,702,471.2 | 1,492,453.2 |
| Latvia | 30,395.2 | 30,140 | 27,495.6 |
| Lithuania | 48,500.4 | 49,447.2 | 46,167.6 |
| Luxembourg | 63,366.4 | 63,933.6 | 60,904.8 |
| Malta | 13,572.8 | 13,190 | 11,754.8 |
| Netherlands | 805,612.8 | 814,032 | 746,956.4 |
| Poland | 526,914 | 543,310 | 479,962 |
| Portugal | 211,606.4 | 210,293.6 | 184,989.6 |
| Romania | 223,746.8 | 220,985.6 | 202,539.2 |
| Slovakia | 93,610 | 91,741.6 | 83,830.4 |
| Slovenia | 48,190.8 | 47,260.8 | 42,818.4 |
| Spain | 1,240,880 | 1,191,184 | 983,468 |
| Sweden | 471,173.2 | 478,075.6 | 441,343.2 |
| United Kingdom | 2,520,790.8 | 2,578,695.2 | 2,143,401.6 |
Sources
Eurostat. 2020. "GDP and Main Components." Accessed October 15, 2020. https://appsso.eurostat.ec.europa.eu/nui/show.do?query=BOOKMARK_DS-406779_QID_75E42079_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.