The chart above shows the annualized nominal gross domestic product (GDP) in each EU state as of the third quarter of 2020 in millions of euros, the change from the previous quarter, and the GDP one year prior. Every single state had an increase in GDP over the previous quarter.
Findings
- The difference between the state with the largest GDP, Germany, and the state with the smallest, Malta, is €3,342,122.00 million (up from €3,108,018.00 million last quarter and down from €3,452,207.20 million last year). Germany and Malta had the largest and smallest GDP respectively both last quarter and last year.
- Germany has 265.79 times the GDP that Malta does. The ratio of largest GDP to smallest GDP was down from 280.25 last quarter and up from 251.64 last year.
- The median GDP in the 28 EU states is €213,253.80 million (up from €196,331.80 million last quarter and down from €224,428.60 last year) and the mean €569,322.19 million (up from €513,129.30 the previous quarter and down from €588,491.26 last year).
- Of the 28 states, 28 saw a rise of GDP in current dollars from the previous quarter while zero saw a contraction.
- Of the 28 states, four saw a rise of GDP in current dollars from last year while 24 saw a contraction.
Caveats
- Data is from the third quarter of 2019, the second quarter of 2020, and the third 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, Malta had the worst performance over the previous quarter with a gain of €1,492.00 million. France had the best performance with a gain of €313,520.00 million. Year over year, Germany had the worst performance with a drop of €111,236.00 million while Ireland had the best performance with a gain of €23,847.60 million.
In relative terms, Finland had the worst performance over the previous quarter with a 2.71% gain in GDP while Spain had the best performance with a 16.91% gain in GDP. Year over year, Croatia had the worst performance with a 12.01% drop in GDP while Ireland had the best performance with a 6.65% gain in GDP.
Germany accounted for over one-fifth of the economic output of the 28 states at 21.04%. It, with France accounted for just over one-third of the economic output of the 28 states at 35.92%. Adding in the United Kingdom amounts to just over half the economic output of the 28 states at 50.77%.
France (from 3rd to 2nd largest GDP) and Austria (from 11th to 10th largest GDP) rose one spot over the previous quarter. The United Kingdom (from 2nd to 3rd) and Ireland (from 11th to 12th) fell one spot. Year over year, France (from 3rd to 2nd), Sweden (from 9th to 8th), and Lithuania (from 23rd to 22nd) rose one spot while the United Kingdom (from 2nd to 3rd), Belgium (from 8th to 9th), and Croatia (from 22nd to 23rd) fell one spot.
Data
| State | Third Quarter 2019 | Second Quarter 2019 | Third Quarter 2020 |
|---|---|---|---|
| Austria | 399,512 | 344,700 | 384,890.4 |
| Belgium | 477,564 | 409,352 | 459,324 |
| Bulgaria | 60,242.8 | 57,368.8 | 60,270.4 |
| Croatia | 54,636.4 | 44,449.6 | 48,072.8 |
| Cyprus | 22,355.6 | 18,989.6 | 21,233.6 |
| Czechia | 224,602.4 | 196,898 | 216,039.2 |
| Denmark | 315,991.6 | 292,905.6 | 306,762 |
| Estonia | 28,139.2 | 25,662.4 | 27,532.8 |
| Finland | 241,852 | 231,460 | 237,744 |
| France | 2,434,336 | 2,057,680 | 2,371,200 |
| Germany | 3,465,980 | 3,119,148 | 3,354,744 |
| Greece | 181,593.6 | 154,520.8 | 161,543.2 |
| Hungary | 146,101.2 | 123,601.2 | 135,084.4 |
| Ireland | 358,544 | 346,944.8 | 382,391.6 |
| Italy | 1,791,488.8 | 1,494,206 | 1,715,418.4 |
| Latvia | 30,601.2 | 27,495.2 | 29,645.2 |
| Lithuania | 49,025.2 | 46,167.6 | 48,980.4 |
| Luxembourg | 64,382 | 59,792 | 65,430 |
| Malta | 13,772.8 | 11,130 | 12,622 |
| Netherlands | 814,176 | 746,960.4 | 813,887.2 |
| Poland | 534,938.4 | 482,086.8 | 534,516.4 |
| Portugal | 214,354 | 184,825.6 | 206,610 |
| Romania | 224,254.8 | 195,765.6 | 210,468.4 |
| Slovakia | 94,153.2 | 83,594.4 | 94,082.4 |
| Slovenia | 48,927.6 | 43,132 | 47,446.4 |
| Spain | 1,246,696 | 983,732 | 1,150,044 |
| Sweden | 473,146.4 | 441,650.4 | 477,668.8 |
| United Kingdom | 2,466,388 | 2,143,401.6 | 2,367,369.2 |
Sources
Eurostat. 2020. "GDP and Main Components." Accessed December 28, 2020. https://appsso.eurostat.ec.europa.eu/nui/show.do?query=BOOKMARK_DS-406779_QID_-417A9D0D_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-406779NA_ITEM,B1GQ;DS-406779S_ADJ,SCA;&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.