The chart above shows the per capita annualized nominal gross domestic product (GDP) in each EU region as of the second quarter of 2020 in euros, the change from five years ago, and the per capita GDP ten years prior. Only the Northern and Eastern EU's economies 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 €34,564.28 (down from €34,947.37 five years ago and up from €29,648.20 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 3.71 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 4.13 five years ago and down from 4.14 ten years ago.
- Of the four regions, two regions had a per capita GDP rise in current dollars over the past five years while two had a per capita GDP drop.
- Of the four regions, three regions had a per capita GDP rise in current dollars over the past ten years while one had a per capita GDP drop.
Caveats
- Data is from the second 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 drop of €1,997.28. The Eastern EU had the best performance with a gain of €1,609.47. Over the past ten years, the Southern EU had the worst performance with a drop of €2,024.13 while the Northern EU had the best performance with a gain of €8,235.90.
In relative terms, the Southern EU had the worst performance over the past five years with a 8.29% drop in per capita GDP while the Eastern EU had the best performance with a 14.42% rise in per capita GDP. Over the past ten years, the Southern EU had the worst performance with a 8.40% drop in per capita GDP while the Eastern EU had the best performance with a 35.14% 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 one region 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 two regions now.
The Eastern and Southern EU have a lower per capita GDP now than the Southern and Western EU did ten years ago and the Eastern, Southern, and Western EU have a lower per capita GDP now than the Northern EU did ten years ago. The Eastern and Southern EU have a lower per capita GDP than the Southern EU did five years ago and the Eastern, Southern, and Western EU have a lower per capita GDP than the Western and Northern EU did five years ago.
Sources
Eurostat. 2020. "GDP and Main Components." Accessed November 20, 2020. https://appsso.eurostat.ec.europa.eu/nui/show.do?query=BOOKMARK_DS-406779_QID_56657E35_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.