The chart above shows the state economies of the EU and US. The European Union has the three largest economies as well as the three smallest. Quite a feat considering there are nearly half as many EU states as there are in the US.
Findings
- The German economy makes up over one-tenth of the total EU and US economies.
- It takes the eight largest states (Germany, United Kingdom, France, California, Italy, Texas, New York, and Spain) to make up more than half of the total EU and US GDP.
- The smallest state economy, Malta, makes up 0.03 percent of the total.
Caveats
- The data is from 2016.
- EU data was converted from euros to dollars at the average 2016 0.77 euros to dollars rate.
Details
The wealthiest US state is ranked fourth overall. US states only make up four of the top ten state economies in the EU and the US.
The total GDP for both the EU and the US according to this data is US$37,686,330,000,000.
Sources
Eurostat. 2017. "Gross Domestic Product at Market Prices. Accessed October 26, 2017. http://ec.europa.eu/eurostat/tgm/refreshTableAction.do?tab=table&plugin=1&pcode=tec00001&language=en.
US Bureau of Economic Analysis. 2017. "Regional Data." Accessed October 26, 2017. https://bea.gov/itable/iTable.cfm?ReqID=70&step=1#reqid=70&step=1&isuri=1.