The chart above shows the per capita annualized nominal gross domestic product (GDP) in each EU region as of the fourth 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 €37,274.31 (up from €35,580.60 five years ago and up from €31,512.00 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 3.63 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 4.15 five years ago and down from 4.24 ten years ago.
- Of the four regions, 4 had a per capita GDP rise in current dollars over the past five years while 0 had a per capita GDP drop.
- Of the four regions, 4 had a per capita GDP rise in current dollars over the past ten years while 0 had a per capita GDP drop.
Caveats
- Data is from the fourth 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 gain of €917.69. The Northern EU had the best performance with a gain of €4,571.95. Over the past ten years, the Southern EU had the worst performance with a gain of €1,037.73 while the Northern EU had the best performance with a gain of €10,224.20.
In relative terms, the Southern EU had the worst performance over the past five years with a 3.76% rise in per capita GDP while the Eastern EU had the best performance with a 25.45% rise in per capita GDP. Over the past ten years, the Southern EU had the worst performance with a 4.27% rise in per capita GDP while the Eastern EU had the best performance with a 45.88% rise in per capita GDP.
There was 1 region with a per capita GDP of over €40,000 ten years ago, 1 region five years ago, and 2 regions now. On the flip side, there were 2 regions with a per capita GDP of less than €25,000 ten years ago, 2 regions five years ago, and 1 region now.
The Eastern EU has a lower per capita GDP now than the Southern, Western, and Northern EU did ten years ago, the Southern EU has a lower per capita GDP now than the Western and Northern EU did ten years ago, and the Western EU has a lower per capita GDP now than the 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, 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. 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.
Federal Reserve. 2021. "Foreign Exchange Rates." Accessed March 31, 2021. https://www.federalreserve.gov/releases/g5/.
Office for National Statistics. 2021. "Gross Domestic Product at market prices: Current price: Seasonally adjusted £m - Office for National Statistics." Accessed March 31, 2021. https://www.ons.gov.uk/economy/grossdomesticproductgdp/timeseries/ybha/ukea.