Economy of the European Union

Economy of the European Union
Currency	1 Euro (€) = 100 cents
Other currencies in member states Bulgarian lev • Czech koruna • Danish krone • Hungarian forint • Latvian lats • Lithuanian litas • Polish złoty • Romanian leu • Swedish krona • British Pound sterling
Statistics
GDP ranking	1st (2010)
GDP (Nominal)	US $16.282 trillion (2010) €12.279 trillion (2010)
GDP (PPP)	US $15.170 trillion (€12.5 trillion) (2010)
GDP growth rate	1.8% (2010)
GDP per capita	US$32,615 (€25,000) (nominal) US$30,388 (€21,400) (PPP) (2010)
GDP by sector (2006)	70.5% services 27.3% industry   2.1% agriculture
Inflation	2.1% (2010)
Population below poverty threshold	17%
Labour force	239.3 million[4]
Labour force by occupation (2010)	69.5% services 25.4% industry   5.2% agriculture
Unemployment	9.3% (May 2011)
Sources: [5] [6] [7] [8] [9] [10]
Trading partners
Exports	€1.349 trillion (2010) $1.788 trillion (2010)
Export goods (2010) machinery and transport equipment 42.4%; other manufactured goods 23.0%; chemicals and related products 17.5%; food, drinks and tobacco 5.7%; mineral fuels and lubricants 5.6%; raw materials 2.8%; commodities and transactions 3.0%
Main export partners (2010) United States, 17,9%; China, 8,4%; Switzerland, 7,8%; Russia, 6,4%; Turkey, 4,5% etc.
Imports	€1.502 trillion (2010) $1.991 trillion (2010)
Import goods (2010) machinery and transport equipment 29.5%; other manufactured goods 24.0%; mineral fuels and lubricants 25.4%; chemicals and related products 9.1%; food, drinks and tobacco 5.4%; raw materials 4.7%; commodities and transactions 1.9%
Main import partners (2010) China, 18,8%; United States, 11,3%; Russia, 10,5%, Switzerland, 5,6%; Norway, 5,3% etc.
Sources: [11] [12] [13] [14] [15]
Public finances
Public debt	€ 9,828.2 billion (80% of GDP) (2010)
Public deficit	€ -784.1 billion (-6.4% of GDP) (2010)
Expenditure	50.3% of GDP (2010)
Revenue	44% of GDP (2010)
Sources: [http://epp.eurostat.ec.europa.eu/cache/ITY_PUBLIC/2-26042011-AP/EN/2-26042011-AP-EN.PDF

The economy of the European Union generates a GDP of over €12,279.033 trillion (US$16,242.3 trillion in 2010) according to the International Monetary Fund (IMF), making it the largest economy in the world. The European Union (EU) economy consists of a single market and the EU is represented as a unified entity in the World Trade Organization (WTO).

Contents 1 Currency 2 Budget 3 Economic variation 4 Economies of member states 5 Economic growth 6 Energy resources 7 Trade 8 Unemployment 9 Industries 9.1 Agriculture 9.2 Tourism 10 Companies 11 Gini index 12 Regional variation 12.1 Top 10: economically strongest NUTS-1 and NUTS-2 regions 12.2 Economically weakest NUTS-2 regions 13 Richest & Poorest NUTS Regions (GDP PPP 2008) 13.1 Richest & Poorest NUTS-2 Regions (GDP PPP 2008) 13.2 Richest & Poorest NUTS-1 Regions (GDP PPP 2008) 14 See also 15 References 16 External links

Currency

The official currency of the European Union is the euro used in all its documents and policies. The Stability and Growth Pact sets out the fiscal criteria to maintain for stability and (economic) convergence. The euro is also the most widely used currency in the EU, which is in use in 17 member states known as the Eurozone. All other member states, apart from Denmark and the United Kingdom, which have special opt-outs, have committed to changing over to the euro once they have fulfilled the requirements needed to do so. Also, Sweden can effectively opt out by choosing when or whether to join the European Exchange Rate Mechanism, which is the preliminary step towards joining. The remaining states are committed to join the Euro through their Treaties of Accession.

Budget

The operation of the EU has an agreed budget of €141 billion for the year 2011, and €862 billion for the period 2007–2013,^[1] this represents around 1% of the EU's GDP. By comparison, the UK expenditure for 2004 was estimated at about €759 billion and France's was estimated at about €801 billion. In 1960, the budget of the EU's predecessor, the European Economic Community, was 0.03% of GDP.^[2]

Economic variation

Below is a table showing, respectively, the GDP and the GDP (PPP) per capita for the European Union and for each of its 27 member states, sorted by GDP (PPP). This can be used as a rough gauge to the relative standards of living among member states, with Luxembourg the highest and Romania the lowest. Eurostat, based in Luxembourg, is the Official Statistical Office of the European Communities releasing yearly GDP figures for the member states as well as the EU as a whole, which are regularly updated, supporting this way a measure of wealth and a base for the European Union's budgetary and economic policies. Figures are stated in euro.

Member States	GDP 2010 millions of euro	Population in millions	GDP (PPP) per capita 2010 euro	GDP (Nominal) per capita 2010 euro	GDP (PPP) per capita 2010 EU27 = 100	Eurozone yes/no
European Union	12,268,387	501	24,400	24,400	100.0%
Germany	2,498,800	81.8	28,800	30,300	118%	yes
France	1,932,802	64.7	26,300	29,800	108%	yes
United Kingdom	1,696,583	62.0	27,300	27,300	112%	no
Italy	1,548,816	60.3	24,600	25,700	101%	yes
Spain	1,062,591	46.0	24,500	22,800	100%	yes
Netherlands	591,477	16.6	32,500	35,400	133%	yes
Poland	354,316	38.2	15,300	9,300	63%	no
Belgium	352,941	10.8	29,000	32,600	119%	yes
Sweden	346,667	9.3	30,100	37,000	123%	no
Austria	284,410	8.4	30,800	34,100	126%	yes
Denmark	234,005	5.5	31,000	42,500	127%	no
Greece	230,173(p)	11.3	21,900(p)	20,100(p)	90%	yes
Finland	180,253	5.3	28,200	33,600	115%	yes
Portugal	172,699	10.6	19,500	16,200	80%	yes
Ireland	153,938	4.4	31,100	34,900	128%	yes
Czech Republic	145,049	10.5	19,400	14,200	80%	no
Romania	121,941	21.5	11,200	5,700	46%	no
Hungary	98,446	10.0	15,500	9,700	65%	no
Slovakia	65,905	5.4	18,000	12,100	74%	yes
Luxembourg	41,597	0.5	66,300	79,500	271%	yes
Bulgaria	36,033	7.6	10,700	4,800	44%	no
Slovenia	35,974	2.0	20,700	17,300	85%	yes
Lithuania	27,410	3.2	14,000	8,400	57%	no
Latvia	17,971	2.2	12,500	8,000	51%	no
Cyprus	17,465	0.8	24,200	21,600	99%	yes
Estonia	14,501	1.3	15,700	10,700	64%	yes
Malta	6,233	0.4	20,200	14,800	83%	yes

EU Candidates	GDP 2010 millions of euro	Population in millions	GDP (PPP) per capita 2010 euro	GDP (Nominal) per capita 2010 euro	GDP (PPP) per capita 2010 perc. of EU27	Eurozone yes/no
Iceland	9,495	0.3	27,200	29,900	111%	no
Croatia	45,899	4.5	14,800(p)	10,400(p)	62%	no
Turkey	552,842	71.0	12,000	7,600	48%	no
Macedonia	6,922	2.0	8,600	3,300(2009)	35%	no
Montenegro		0.6

Current and previous EU applicants	GDP 2010 millions of euro	Population in millions	GDP (PPP) per capita 2009 euro	GDP (Nominal) per capita 2009 euro	GDP (PPP) per capita 2009 perc. of EU27	Eurozone yes/no
Albania	8,975[3]	3.2		2,803		no
Norway	311,855	4.6	44,200	64,500	181%	no
Serbia	28,671[4]	7.3		3,876		no
Switzerland	398,878	7.7	35,900	51,200	148%	no

p: provisional value
e: estimated value
Source: GDP Millions of PPS:EUROSTAT,^[5] GDP(PPP) per inhabitant: EUROSTAT,^[5] GDP per capita in PPS :EUROSTAT(,^[6] GDP per inhabitant expressed in PPS (2009): EUROSTAT^[7]

Past and future GDP at market prices (millions of euro)[8][nb 1]

2007 2008 2009 2010 2011 2012  European Union 12,400,902.0 12,484,420.7 11,761,587.4 12,257,461.4 12,673,682.2 13,152,269.8 Member states  Austria 272,010.2 283,085.4 274,320.5 284,410.2 296,157.1 307,489.0  Belgium 335,610.4 346,130.1 340,397.6 354,377.5 369,621.5 385,570.1  Bulgaria 30,772.4 35,430.5 34,932.8 36,033.5 - -  Cyprus 15,901.5 17,157.1 16,853.5 17,333.6 18,136.6 18,954.1  Czech Republic 131,908.6 154,269.7 141,449.8 149,313.3 158,705.4 166,703.8  Denmark 227,533.9 233,482.2 222,409.8 234,005.3 241,983.3 250,653.5  Estonia 16,069.4 16,304.2 13,839.6 14,305.3 15,354.9 16,322.7  Finland 179,830.0 185,651.0 173,267.0 180,253.0 191,665.9 201,387.4  France 1,886,792.1 1,933,195.0 1,889,231.0 1,932,801.7 2,001,557.3 2,080,179.4  Germany 2,428,500.0 2,473,800.0 2,374,500.0 2,476,800.0 2,566,095.0 2,655,952.9  Greece 222,771.1 232,920.3 231,642.0 227,317.9 220,024.0 223,325.6  Hungary 99,430.5 105,545.1 91,402.5 97,094.8 104,192.6 108,903.9  Ireland 189,932.9 179,989.8 160,595.9 155,992.3 158,003.5 162,478.4  Italy 1,546,177.4 1,567,761.4 1,519,702.2 1,548,816.2 1,596,293.0 1,647,037.1  Latvia 21,026.5 22,889.8 18,521.3 17,974.8 18,987.0 20,028.4  Lithuania 28,738.8 32,461.7 26,620.1 27,535.4 29,863.0 32,171.2  Luxembourg 37,490.5 39,436.5 37,392.6 40,266.9 43,016.3 45,832.4  Malta 5,455.1 5,839.8 5,830.3 6,163.7 6,455.0 6,746.3  Netherlands 571,773.0 594,481.0 571,145.0 588,414.0 611,142.7 634,615.5  Poland 311,001.7 363,153.7 310,418.2 354,310.0 377,693.4 395,173.1  Portugal 169,319.2 171,983.1 168,586.6 172,798.6 170,807.5 169,888.7  Romania 124,728.5 139,765.4 118,196.0 121,941.2 129,166.3 138,299.2  Slovakia 54,810.8 64,500.1 62,895.5 65,887.4 69,256.1 74,057.9  Slovenia 34,562.3 37,279.5 35,310.6 35,415.8 36,446. 38,018.4  Spain 1,053,537.0 1,088,124.0 1,053,914.0 1,062,591.0 1,081,894.5| 1,110,239.7  Sweden 337,944.2 333,255.7 291,347.0 346,855.1 384,245.0 392,786.9  United Kingdom 2,054,236.2 1,800,710.8 1,564,475.7 1,700,144.5 1,731,363.8 1,797,612.6 Candidate countries  Croatia 43,380.4 47,760.2 45,666.1 45,899.2 46,032.6 47,754.0  Macedonia 5,966.5 6,692.6 6,702.4 6,921.8 7,461.3 8,106.3  Turkey 479,209.1 506,431.9 440,367.3 552,842.4 527,277.5 543,351.2 EFTA countries  Iceland 14,932.4 10,303.7 8,673.7 9,494.8 9,846.1 10,308.7  Norway 283,366.4 305,323.3 267,066.4 311,854.6 340,694.6 357,860.5  Switzerland 317,222.0 343,346.1 354,734.9 398,877.5 483,772.6 537,140.9 Main economic partners  USA 10,236,191.2 9,716,820.8 9,993,547.5 10,957,607.3 10,648,154.3 10,964,166.9  Japan 3,197,025.7 3,308,478.8 3,613,140.2 4,122,298.7 4,179,969.2 4,357,015.3

Economies of member states

Economic performance varies from state to state. The Growth and Stability Pact governs fiscal policy with the European Union. It applies to all member states, with specific rules which apply to the eurozone members that stipulate that each state's deficit must not exceed 3% of GDP and its public debt must not exceed 60% of GDP. However, many larger members have consistently run deficits substantially in excess of 3%, and the eurozone as a whole has a debt percentage exceeding 60% (see below).

The following table shows information relating to the member states of the European Union, ordered according to the 'Size' of their economies. (NB: Were the table ordered according to 'GDP per capita' this would perhaps better reflect the strength of an individual economy. But this is not how such tables are commonly structured.) The colours denote how a member state is performing relative to the rest of the European Union, above average (green) or below average (red). The smallest and greatest values in each column are emphasised.

The data for GDP and GDP per capita (PPP) are based on the World Economic Outlook, September, 2011 (International Monetary Fund).^[9]

Member State sorted by GDP	GDP in billions of USD (2010)[10]	GDP % of EU (2010)	Annual change  % of GDP (2010)	GDP per capita in PPP US$ (2010)	Public Debt[11] % of GDP (2010)	Deficit (-)/ Surplus (+)[12] % of GDP (2010)	Inflation % Annual[13] (2010)	Unemp.[14] % M9 2011
European Union[15]	16,242.3	100.0	1.9	30,455	80.0	-6.4	2.1	9.7
Germany	3,286.5	20.2%	3.7	36,081	83.2	-3.3	1.2	5.5
France	2,562.7	15.8%	1.5	33,910	81.7	-7.0	1.7	9.8
United Kingdom	2,250.2	13.9%	1.8	35,059	80.0	-10.4	3.3	8.0*
Italy	2,055.1	12.7%	1.8	29,480	119.0	-4.6	1.6	8.3 (August)
Spain	1,409.9	8.7%	-0.1	29,830	60.1	-9.2	2.0	22.8
Netherlands	780.7	4.8%	1.7	40,973	62.7	-5.4	0.9	4.8
Poland	469.4	2.9%	3.9	18,981	55.0	-7.9	2.7	9.9
Belgium	467.8	2.9%	2.3	36,274	96.8	-4.1	2.3	6.6
Sweden	458.7	2.8%	5.6	38,204	39.8	0.0	1.9	7.5
Austria	377.4	2.3%	2.3	39,761	72.3	-4.6	1.7	4.1
Denmark	309.9	1.9%	1.7	36,443	43.6	-2.7	2.2	7.6 (September)
Greece	305.4	1.9%	-3.5	28,496	142.8	-10.5	4.7	18.3 (August)
Finland	239.2	1.5%	3.6	34,918	48.4	-2.5	1.7	7.8
Portugal	229.1	1.4%	1.4	23,262	93.0	-9.1	1.4	12.9
Ireland	207.0	1.3%	-0.4	39,492	96.2	-32.4	-1.6	14.3
Czech Republic	192.0	1.2%	2.7	24,950	38.5	-4.7	1.2	6.7
Romania	161.6	1.0%	-1.9	11,895	30.8	-6.4	6.1	7.3
Hungary	130.4	0.8%	1.3	18,841	80.2	-4.2	4.7	9.8
Slovakia	87.5	0.5%	4.2	22,195	41.0	-7.9	0.7	13.6
Luxembourg	55.2	0.3%	2.7	81,466	18.4	-1.7	2.8	4.7
Slovenia	47.7	0.3%	1.4	28,073	38.0	-5.6	2.1	7.9
Bulgaria	47.7	0.3%	0.2	12,934	16.2	-3.2	3.0	12.1
Lithuania	36.4	0.2%	1.4	17,235	33.7	-7.1	1.2	15.0 (September)
Latvia	24.0	0.1%	-0.3	14,504	44.7	-7.7	-1.2	16.2 (June)
Cyprus	23.2	0.1%	1.1	28,960	60.8	-5.3	2.6	8.2
Estonia	19.3	0.1%	2.3	18,527	6.6	0.1	2.7	11.3 (September)
Malta	8.3	0.1%	2.7	24,833	68.0	-3.6	2.0	6.7

Economic growth

The EU's share of Gross world product (GWP) is stable at around one fifth.^[16]

[17] EU15 GDP growth rates

[17] New Member States GDP growth rates

Member State  % GDP Growth 2005 2006 2007 2008 2009 2010 2011 2005 -2010  Austria 2.4 3.7 3.7 1.4 −3.8 2.3 2.9 10,4  Belgium 1.7 2.7 2.9 1.0 −2.8 2.3 2.2 7,8  Denmark 2.4 3.4 1.6 −0.8 −5.8 1.3 1.2 2,5  Finland 2.9 4.4 5.3 1.0 -8.2 3.6 3.1 8,6  France 1.8 2.5 2.3 -0.1 −2.7 1.5 1.6 5,3  Germany 0.7 3.7 3.3 1.1 −5.1 3.7 2.9 6,7  Greece 2.3 5.5 3.0 -0.2 -3.3 -3.5 -5.5 6,1  Ireland 5.3 5.3 5.2 -3.0 −7.0 -0.4 1.1 4,0  Italy 0.9 2.2 1.7 −1.2 −5.1 1.5 0.5 -2,2  Luxembourg 5.4 5.0 6.6 0.8 −5.3 2.7 1.6 19,3  Netherlands 2.0 3.4 3.9 1.8 −3.5 1.7 1.8 9,2  Portugal 0.8 1.4 2.4 0.0 −2.5 1.4 -1.9 3,3  Spain 3.6 4.0 3.6 0.9 −3.7 −0.1 0.7 8,3.  Sweden 3.2 4.3 3.3 −0.6 −5.2 5.6 4.0 10,6  United Kingdom 2.1 2.6 3.5 −1.1 −4.4 1.8 0.7 3,9

Member State  % GDP Growth 2005 2006 2007 2008 2009 2010 2011 2005 -2010  Bulgaria 6.4 6.5 6.4 6.2 −5.5 0.2 2.2 21,2  Cyprus 3.9 4.1 5.1 3.6 −1.9 1.1 0.3 16,9  Czech Republic 6.8 7.0 5.7 3.1 −4.7 2.7 1.8 21,1  Estonia 8.9 10.1 7.5 -3.7 −14.3 2.3 8.0 8,9  Hungary 4.0 3.9 0.1 0.9 −6.8 1.3 1.4 2,5  Latvia 10.1 11.2 9.6 −3.3 -17.7 −0.3 4.5 6,9  Lithuania 7.8 7.8 9.8 2.9 −14.8 1.4 6.1 13,4  Malta 3.7 2.8 4.3 4.3 −2.6 2.9 2.1 16,8  Poland 3.6 6.2 6.8 5.1 1.6 3.9 4.0 30,2  Romania 4.2 7.9 6.3 7.3 −6.6 -1.9 1.7 17,5  Slovakia 6.7 8.3 10.5 5.9 −4.9 4.2 2.9 34,0  Slovenia 4.0 5.8 6.9 3.6 −8.0 1.4 1.1 14,0  European Union 2.0 3.3 3.1 0.5 −4.3 1.9 1.6 6,2 Eurozone 1.7 3.2 3.0 0.4 −4.2 1.9 1.5 5,6

The twelve new member states of the European Union have enjoyed a higher average percentage growth rate than their elder members of the EU. Slovakia has the highest GDP growth in the period 2005-2010 among all countries of the European Union (See Tatra Tiger). Notably the Baltic states have achieved massive GDP growth, with Latvia topping 11%, close to China, the world leader at 9% on average for the past 25 years (though these gains have been in great part cancelled by the late-2000's recession). Reasons for this massive growth include government commitments to stable monetary policy, export-oriented trade policies, low flat-tax rates and the utilisation of relatively cheap labour. For the last year (2010), Sweden had the biggest GDP growth from all the states in EU (5,7%). The current map of EU growth is one of huge regional variation, with the larger economies suffering from stagnant growth and the new nations enjoying sustained, robust economic growth. Although EU27 GDP is on the increase, the percentage of Gross world product is decreasing due to the emergence of economic powers such as China, India and Brazil. In the medium to long term, the EU will be looking forward to increase GDP growth in Italy and the UK in order to stabilise growth in European Union states. This is to ensure sustained economic prosperity.

Energy resources

The European Union has large coal, oil, and natural gas reserves. There are six oil producers in the European Union, primarily in North Sea oilfields. The United Kingdom by far is the largest producer, however Denmark, Germany, Italy, Romania and the Netherlands all produce oil. If it is treated as a single unit, which is not conventional in the oil markets, the European Union is the 7th largest producer of oil in the world, producing 3,424,000 (2001) barrels a day. However, it is also the world's 2nd largest consumer of oil, consuming much more than it can produce, at 14,590,000 (2001) barrels a day. Much of the difference comes from Russia and the Caspian Sea basin. All countries in the EU have committed to the Kyoto Protocol, and the European Union is one of its biggest proponents. The European Commission published proposals for the first comprehensive EU energy policy on 10 January 2007.

see also: Renewable energy in the European Union and category:Energy in the European Union

Trade

The European Union is the largest exporter in the world^[18] and as of 2008 the largest importer of goods and services.^[19] Internal trade between the member states is aided by the removal of barriers to trade such as tariffs and border controls. In the eurozone, trade is helped by not having any currency differences to deal with amongst most members. The European Union Association Agreement does something similar for a much larger range of countries, partly as a so-called soft approach ('a carrot instead of a stick') to influence the politics in those countries. The European Union represents all its members at the World Trade Organization (WTO), and acts on behalf of member states in any disputes. However, when the EU negotiates trade related agreement outside the WTO framework, the subsequent agreement must be approved by each individual EU member.^[20]

Main trading partners(2010)[21]

Rank Partners Imports (Millions Euro) % (of total) Exports (Millions Euro) % (of total) Total trade (Millions Euro) % (of total) - Total EU 1.501.843,9 100% 1.348.792,4 100% 2.850.636,3 100% 1 United States 169.467,4 11,3% 242.095,1 17,9% 411.562,5 14,4% 2 China 282.011,1 18,8% 113.117,7 8,4% 395.128,8 13,9% 3 Russia 158.384,9 10,5% 86.508,8 6,4% 244.893,7 8,6% 4 Switzerland 84.126,2 5,6% 105.433,4 7,8% 189.559,5 6,6% 5 Norway 79.179,4 5,3% 41.860,2 3,1% 121.039,5 4,2% 6 Japan 64.898,1 4,3% 43.730,1 3,2% 108.628,2 3,8% 7 Turkey 42.088,0 2,8% 61.189,7 4,5% 103.277,7 3,6% 8 India 33.147,3 2,2% 34.798,8 2,6% 67.946,1 2,4% 9 South Korea 38.651,6 2,6% 27.984,8 2,1% 66.636,4 2,3% 10 Brazil 32.320,4 2,2% 31.282,9 2,3% 63.603,3 2,2% 11 Canada 20.053,3 1,3% 26.589,2 2,0% 46.642,4 1,6% 12 Singapore 18.704,4 1,2% 24.043,3 1,8% 42.747,7 1,5% 13 South Africa 17.912,1 1,2% 21.506,6 1,6% 39.418,7 1,4% 14 Saudi Arabia 15.949,7 1,1% 23.006,6 1,7% 38.956,3 1,4% 15 Taiwan 24.135,7 1,6% 14.759,9 1,1% 38.895,5 1,4% 16 Hong Kong 10.600,6 0,7% 26.940,5 2,0% 37.541,2 1,3% 17 Australia 9.850,6 0,7% 26.752,3 2,0% 36.602,9 1,3% 18 Algeria 20.886,7 1,4% 15.536,6 1,2% 36.423,4 1,3% 19 Libya 28.779,9 1,8% 6.754,3 0,5% 35.534,2 1,2% 20 Mexico 13.111,6 0,9% 21.389,8 1,6% 34.501,4 1,2% 21 United Arab Emirates 5.723,8 0,4% 27.709,3 2,1% 33.433,1 1,2% 22 Malaysia 20.701,2 1,4% 11.243,4 0,8% 31.944,6 1,1% 23 Ukraine 11.396,9 0,8% 17.334,7 1,3% 28.731,6 1,0% 24 Thailand 17.212,3 1,1% 9.992,4 0,7% 27.204,7 1,0% 25 Iran 14.328,6 1,0% 11.333,8 0,8% 25.662,4 0,9% 26 Israel 11.112,9 0,7% 14.470,5 1,1% 25.583,4 0,9% 27 Nigeria 14.636,0 1,0% 10.734,7 0,8% 25.370,8 0,9% 28 Egypt 7.204,6 0,5% 14.802,8 1,1% 22.007,4 0,8% 29 Morocco 7.727,5 0,5% 13.625,0 1,0% 21.352,5 0,7% 30 Kazakhstan 15.870,8 1,1% 5.231,5 0,4% 21.102,3 0,7% 31 Tunisia 9.510,8 0,6% 9.510,8 0,8% 20.581,9 0,7% 32 Indonesia 13.729,2 0,9% 6.372,2 0,5% 20.101,3 0,7% 33 Argentina 9.329,4 0,6% 7.396,3 0,5% 16.725,7 0,6% 34 Chile 9.408,0 0,6% 5.998,9 0,4% 15.406,9 0,5% 35 Croatia 4.877,4 0,3% 10.331,3 0,8% 15.208,7 0,5% 36 Vietnam 9.431,3 0,6% 4.672,2 0,3% 14.103,6 0,5% 37 Qatar 7.781,5 0,5% 5.306,4 0,4% 13.087,9 0,5% 38 Azerbaijan 9.763,5 0,7% 2.346,8 0,2% 12.110,3 0,4% 39 Serbia 4.056,7 0,3% 7.425,6 0,7% 11.482,2 0,4% 40 Iraq 7.143,4 0,5% 3,000,5 0,2% 10.149,2 0,4% 41 Belarus 2.627,3 0,2% 6.715,7 0,5% 9.343,0 0,3% 42 Philippines 5.379,0 0,4% 3.736,0 0,3% 9.115,0 0,3% 43 Colombia 4.724,4 0,3% 3.911,7 0,3% 8.636,1 0,3% 44 Angola 3.855,0 0,3% 4.685,4 0,3% 8.540,4 0,3% 45 Bangladesh 6.597,4 0,4% 1,614.7 0,1% 8.212,1 0,3% 46 Venezuela 3.784,8 0,3% 4.110,3 0,3% 7.895,0 0,3% 47 Kuwait 3.775,9 0,3% 4.095,6 0,3% 7.871,5 0,3% 48 Pakistan 3.797,4 0,3% 3.661,5 0,3% 7.459,0 0,3% 49 Peru 5.136,1 0,3% 2.285.4 0,2% 7.421,5 0,3% 50 Syria 3.595,7 0,3% 3.647,4 0,3% 7.243,1 0,3%

Trade with partner country groupings(2010)[21]

Rank Partner region Imports (Millions Euro) % (of total) Exports (Millions Euro) % (of total) Total trade (Millions Euro) % (of total) - Total EU 1.501.843,9 100% 1.348.792,4 100% 2.850.636,3 100% - ACP 64.793,1 4,3% 68.722,2 5,1% 133.515,3 4,7% - Andean Community 12.198,6 0,8% 7.905,9 0,6% 20.104,5 0,7% - ASEAN 86.373,8 5,8% 60.635,1 4,5% 147.009,0 5,2% - BRIC 505.863,7 33,7% 265.708,2 19,7% 771.572,0 27,1% - CACM 7.576,1 0,5% 4.504,6 0,3% 12.080,7 0,4% - EU Candidate Countries 48.616,5 3,2% 73.897,7 5,5% 122.514,2 4,3% - CIS 200.474,7 13,3% 123.694,2 9,2% 324.168,8 11,4% - EFTA 167.022,8 11,1% 150.030,1 11,1% 317.052,9 11,1% - Latin America Countries 90.034,3 6,0% 84.013,5 6,2% 174.047,8 6,1% - MEDA(Excl. EU and Turkey) 60.624,3 4,0% 80.733,3 6,0% 141.357,6 5,0% - Mercosur 43.955,3 2,9% 40.104,0 3,0% 84.059,2 2,9% - NAFTA 202.632,3 13,5% 290.074,1 21,5% 492.706,4 17,3%

Unemployment

The seasonally adjusted unemployment rate in the European Union (EU27) in March 2009 was 8.3% compared to 6.7% in March 2008. The Eurozone (EA16) unemployment figure for January 2009 was 8.2% compared to 7.3% in January 2008.^[22] The unemployment rate (EU25) had previously declined in prior years from 8.9% in March 2005 to 8.4% in March 2006 to 7.3% in March 2007.^[23] The rate varies widely by member state. There has been a steep upturn in the unemployment rate since 2008 due to the worldwide credit crunch and following recession. The countries within the EU which were most affected were Spain, Ireland and the Baltic countries with the unemployment rate doubling or in case of the Baltic countries nearly tripling. By comparison in March 2009 the United States had an unemployment rate of 8.6% (2008: 5.1; 2007: 4.4; 2006: 4.7) which was higher than the EU-27's unemployment rate but lower than the EU-16 Eurozone rate of 8.9%. Japan's unemployment rate remained comparatively steady at 4.4% (2008: 3.9; 2007: 4.0; 2006: 4.1).^[23][24][25] The following tables show the current unemployment rate of all Member States for March 2009 with comparisons to March 2008, 2007, 2006 and 2005 and comparisons to the United States and Japan:

Unemployment	2005-03	2006-03	2007-03	2008-03	2009-03	2010-03[26]	2011-03[27] *(Q4 2010) **(January 2011) ***(February 2011)
Austria	5.1	5.1	4.5	4.1	4.5	4.9	4.4
Belgium	8.4	8.2	7.7	6.9	7.3	8.1	7.7
Denmark	5.4	4.3	4.1	3.0	5.7	7.6	7.5
Finland	8.5	7.9	7.0	6.3	7.4	9.0	8.0
France	9.7	9.1	8.6	7.6	8.8	10.1	9.5
Germany	9.8	8.7	8.6	7.4	7.6	7.3	6.2
Greece	9.9	9.6	8.6	7.8	7.8	10.2	13.8
Ireland	4.5	4.2	4.6	5.6	10.6	13.2	14.7
Italy	7.8	7.7	6.1	6.6	6.9	8.8	8.3
Luxembourg	4.3	4.8	4.9	4.4	6.1	5.6	4.3
Netherlands	4.9	4.0	3.4	2.8	2.8	4.1	4.2
Portugal	7.4	7.6	8.2	7.6	8.5	10.5	12.6
Spain	9.9	8.7	8.1	9.5	17.4	19.1	20.7
Sweden	6.3	7.2	6.6	5.8	8.0	8.7	7.7
United Kingdom	4.6	5.0	5.5	5.2	6.6	7.9	7.6***
Bulgaria			7.5	6.1	5.9	8.7	11.4
Cyprus	5.1	5.2	4.1	3.7	4.9	6.7	7.3
Czech Republic	8.0	7.7	5.6	4.4	5.5	7.9	6.9
Estonia	8.8	5.3	4.9	4.0	11.1	15.5	14.3
Hungary	6.8	7.4	7.3	7.6	9.2	11.0	11.8
Latvia	9.1	7.6	6.4	6.1	16.1	22.3	17.2*
Lithuania	9.2	6.4	4.6	4.3	15.1	15.8	17.3*
Malta	7.2	8.1	6.6	5.8	6.7	6.9	6.3
Poland	18.0	16.8	10.3	7.4	7.7	9.1	9.3
Romania			6.6	6.2	5.8	7.6	7.4*
Slovakia	16.7	15.7	11.3	9.9	10.5	14.1	14.0
Slovenia	6.4	6.2	5.2	4.5	5.0	6.2	8.1
European Union	8.9	8.4	7.3	6.7	8.3	9.6	9.5
United States	5.1	4.7	4.4	5.1	8.5	9.7	8.8
Japan	4.5	4.1	4.0	3.9	4.4	4.8	4.6

Industries

The services sector is by far the most important sector in the European Union, making up 69.4% of GDP, compared to the manufacturing industry with 28.4% of GDP and agriculture with only 2.3% of GDP.

Agriculture

The agricultural sector is supported by subsidies from the European Union in the form of the Common Agricultural Policy (CAP). This currently represents 40–50% of the EU's total spending. It guarantees a minimum price for farmers in the EU. This is criticised as a form of protectionism, inhibiting trade, and damaging developing countries; one of the most vocal opponents is the UK, the third largest economy within the bloc, which has repeatedly refused to give up the annual UK Rebate unless the CAP undergoes significant reform; France, the biggest benefactor of the CAP and the bloc's second largest economy, is its most vocal proponent.

Tourism

The European Union is a major tourist destination, attracting visitors from outside of the Union and citizens travelling inside it. Internal tourism is made more convenient for the citizens of some EU member states by the Schengen treaty and the Euro. All citizens of the European Union are entitled to travel to any member state without the need of a visa. France is the world's number one tourist destination for international visitors, followed by Spain, Italy and the United Kingdom at 2nd, 5th and 6th spots respectively. It is worth noting however a significant proportion of international visitors to EU countries are from other member states.

Companies

The European Union's member states are the birthplace of many of the world's largest leading multinational companies, and home to its global headquarters. Among these are distinguished companies ranked first in the world within their industry/sector, like Allianz, which is the largest financial service provider in the world by revenue; WPP plc which is the world's largest advertising agency by revenue; Airbus, which is the world's largest aircraft manufacturer;^[28] Air France-KLM, which is the largest airline company in the world in terms of total operating revenues; Amorim, which is the world's largest cork-processing and cork producer company; ArcelorMittal, which is the largest steel company in the world; Inditex which is the biggest fashion group in the world; Groupe Danone, which has the world leadership in the dairy products market; Anheuser-Busch InBev, which is the largest beer company in the world; L'Oréal Group, which is the world's largest cosmetics and beauty company; LVMH, which is the world's largest luxury goods conglomerate; Nokia Corporation, which is the world's largest manufacturer of mobile telephones; Royal Dutch Shell, which is one of the largest energy corporations in the world; and Stora Enso, which is the world's largest pulp and paper manufacturer in terms of production capacity, in terms of banking and finance the EU has some of the worlds largest notably HSBC and Grupo Santander, the largest bank in Europe in terms of Market Capitalisation. Many other European companies rank among the world's largest companies in terms of turnover, profit, market share, number of employees or other major indicators. A considerable number of EU-based companies are ranked among the worlds' top-ten within their sector of activity. Europe is also home to many prestigious car companies such as Mercedes, Jaguar Land Rover, Volkswagen, BMW group and Renault.

Gini index

To date, one of the most commonly used measures of income inequality is the Gini index. The Gini coefficient measures income inequality on a scale from 0 to 1. On this scale 0 represents perfect equality with everyone having exactly the same income and 1 represents perfect inequality with one person having all income. According to the UN (UN), gini index ratings for countries range from 0.247 in Denmark to 0.743 in Namibia. Most post-industrial nations had a gini coefficient in the range 0.25 to 0.40. In 2005 the gini index for the EU was estimated at 0.31,^[29] as a comparison the USA has 0.463,^[30] a surprising result since the EU has virtually no interstate income redistribution power and poorer new member states joined in 2004.

Regional variation

Comparing the richest areas of the EU can be a difficult task. This is because the NUTS 1 & 2 regions are not homogenous, some of them being very large regions, such as NUTS-1 Hesse (21,100 km²) or NUTS-1 Île-de-France (12,011 km²), whilst other NUTS regions are much smaller, for example NUTS-1 Hamburg (755 km²) or NUTS-1 Greater London (1,580 km²). An extreme example is Finland, which is divided for historical reasons into mainland Finland with 5.3 million inhabitants and Åland, an autonomous archipelago with a population of 27,000, or about the population of a small Finnish city. One problem with this data is that some areas, including Greater London, are subject to a large number of commuters coming into the area, thereby artificially inflating the figures. It has the effect of raising GDP but not altering the number of people living in the area, inflating the GDP per capita figure. Similar problems can be produced by a large number of tourists visiting the area. The data is used to define regions that are supported with financial aid in programs such as the European Regional Development Fund. The decision to delineate a Nomenclature of Territorial Units for Statistics (NUTS) region is to a large extent arbitrary (i.e. not based on objective and uniform criteria across Europe), and is decided at European level (See also: Regions of the European Union).

Top 10: economically strongest NUTS-1 and NUTS-2 regions

The 10 NUTS-1 and NUTS-2 regions with the highest GDP per capita are almost all, except two, in the first fifteen member states: Prague and Bratislava are the only ones in the 12 new member states that joined in May 2004 and January 2007.^[31] The leading regions in the ranking of NUTS-2 regional GDP per inhabitant in 2008 were Inner London in the United Kingdom (343% of the average), the Grand Duchy of Luxembourg (279%) and Bruxelles/Brussels in Belgium (216%). Figures for these three regions, however, are artificially inflated by the commuters who do not reside in these regions ("Net commuter inflows in these regions push up production to a level that could not be achieved by the resident active population on its own. The result is that GDP per inhabitant appears to be overestimated in these regions and underestimated in regions with commuter outflows."^[32]). Another example of artificial inflation is Groningen. The calculated GDP per capita is very high due to the large natural gas reserves in this region. However, Groningen is in fact one of the poorest parts in the Netherlands. Among the 40 NUTS-2 regions exceeding the 125% level, ten were in Germany, five in the Netherlands, four each in Austria and United Kingdom, three each in Spain and Italy, two each in Belgium and Finland, one each in the Czech Republic, Denmark, Ireland, France, Slovakia and Sweden, as well as the Grand Duchy of Luxembourg. The NUTS Regulation lays down a minimum population size of 3 million and a maximum size of 7 million for the average NUTS-1 region, whereas a minimum of 800,000 and a maximum of 3 million for NUTS-2 regions ¹ [16]. This definition, however, is not respected by Eurostat. E.g.: the région of Île-de-France, with 11.6 million inhabitants, is treated as a NUTS-2 region, while the state of Bremen, with only 664,000 inhabitants, is treated as a NUTS-1 region.

Rank NUTS-2 Region Member state GDP per capita in Euros As % of EU-27 average 1. Inner London  United Kingdom 85,800 343 % 2. Luxembourg  Luxembourg 70,000 279% 3. Bruxelles-Cap., Brussels Hfdst.  Belgium 54,100 216 % 4. Groningen  Netherlands 49,700 198 % 5. Hamburg  Germany 47,100 188 % 6. Praha  Czech Republic 43,200 172 % 7. Île-de-France  France 42,000 168 % 8. Stockholm  Sweden 41,900 167 % 9. Bratislavský kraj  Slovakia 41,800 167 % 10. Wien  Austria 40,900 163 % 11. Oberbayern  Germany 40,500 162 % 12. Bremen  Germany 39,500 158 % 13. Utrecht  Netherlands 39,300 157 % 14. Grampian Scotland  United Kingdom 39,300 157 % 15. Darmstadt  Germany 39,100 156 % 16. Berkshire, Buckinghamshire & Oxfordshire  United Kingdom 38,500 154 % 17. Noord-Holland  Netherlands 38,200 152 % 18. Hovedstaden  Denmark 38,000 152 % 19. Southern and Eastern  Ireland 37,000 148 % 20. Åland  Finland 36,700 145 %

Rank NUTS-1 Region Member state GDP per capita in Euros As % of EU-27 average 1. Luxembourg  Luxembourg 70,000 279% 2. Bruxelles-Cap., Brussels Hfdst.  Belgium 54,100 216 % 3. London  United Kingdom 49,200 196 % 4. Hamburg  Germany 47,100 188 % 5. Île-de-France  France 42,000 168 % 6. Bremen  Germany 39,500 158 % 7. Åland  Finland 36,300 145 % 8. West-Nederland  Netherlands 36,300 145 % 9. Östra Sverige  Sweden 35,000 140 % 10. Hessen  Germany 34,800 139 % 11. Noord-Holland  Netherlands 34,500 138 % 12. Bayern  Germany 33,900 135 % 13. Madrid  Spain 33,500 134 % 14. Ireland  Ireland 33,300 133% 15. Baden-Württemberg  Germany 32,400 129 % 16. Ostösterreich  Austria 32,400 129 % 17. Westösterreich  Austria 32,200 128 % 18. Zuid-Nederland  Netherlands 32,100 128 % 19. Catalonia  Spain 31,900 127 % 20. Nord Ovest  Italy 31,500 126 %

Source: Eurostat^[32]

Economically weakest NUTS-2 regions

The twenty lowest regions in the ranking in 2008 were all in Bulgaria, Romania, Poland and Hungary, with the lowest figures recorded in Severozapaden in Bulgaria (28% of the average), followed by Nord-Est in Romania (29 %), Severen tsentralen and Yuzhen tsentralen in Bulgaria (both 30%). Among the 64 regions below the 75% level, fifteen were in Poland, seven each in the Czech republic and Romania, six each in Bulgaria and Hungary, four each in Italy and Portugal, three each in Greece, France (all overseas departments) and Slovakia, two in the United Kingdom, one in Spain, as well as Estonia, Latvia and Lithuania.^[31]

Rank NUTS-2 Region Member state GDP per capita in Euros As % of EU-27 average 1. Severozapaden  Bulgaria 7,100 28 % 2. Nord-Est  Romania 7,200 29 % 3. Severen tsentralen  Bulgaria 7,500 30 % 4. Yuzhen tsentralen  Bulgaria 7,600 30 % 5. Yugoiztochen  Bulgaria 9,000 36 % 6. Sud-Vest Oltenia  Romania 9,100 36 % 7. Severoiztochen  Bulgaria 9,400 37 % 8. Sud-Est  Romania 9,700 39 % 9. Podkarpackie  Poland 9,700 39 % 10. Sud – Muntenia  Romania 9,800 39 % 11. Lubelskie  Poland 9,800 39 % 12. Észak Magyaroszág  Hungary 10,000 40 % 13. Észak Alföld  Hungary 10,000 40 % 14. Podlaskie  Poland 10,300 41 % 15. Nord-Vest  Romania 10,400 41 % 16. Warmińsko-Mazurskie  Poland 10,500 42 % 17. Dél Alföld  Hungary 10,800 43 % 18. Dél Dunántúl  Hungary 11,100 44 % 19. Centru  Romania 11,200 45 % 20. Świętokrzyskie  Poland 11,300 45 %

Rank NUTS-1 Region Member state GDP per capita in Euros As % of EU-27 average 1. Severna i Iztochna Bulgaria  Bulgaria 8,300 33 % 2. Macroregiunea Doi  Romania 8,300 33 % 3. Region Wschodni  Poland 10,100 40 % 4. Alföld és Észak  Hungary 10,300 41 % 5. Macroregiunea Patru  Romania 10,700 43 % 6. Macroregiunea Unu  Romania 10,800 43 % 7. Region Północny  Poland 12,200 49 % 8. Yugozapadna i Yuzhna Tsentralna Bulgaria  Bulgaria 13,700 55 % 9. Region Północno-Zachodni  Poland 13,700 55 % 10. Dunántúl  Hungary 13,800 55 % 11. Region Południowy  Poland 14,000 56 % 12. Latvia  Latvia 14,100 56% 13. Region Południowo-Zachodni  Poland 14,300 57 % 14. Lithuania  Lithuania 15,300 61% 15. Départements d'Outre-Mer  France 16,400 65 % 16. Estonia  Estonia 17,000 68% 17. Sud  Italy 17,200 69 % 18. Macroregiunea Trei  Romania 17,300 69 % 19. Isole  Italy 17,400 69 % 20. Açores  Portugal 18,100 72 %

Source: Eurostat^[32]

Richest & Poorest NUTS Regions (GDP PPP 2008)

Richest & Poorest NUTS-2 Regions (GDP PPP 2008) Member State Region GDP per capita in Euros As % of EU-27 average  European Union 25,100 100.0%  Austria 30,600 122.8% Richest Wien 40,600 163.1 % Salzburg 34,700 139.5 % Tirol 31,900 128.2 % Vorarlberg 31,900 128.1 % Oberösterreich 29,900 119.9 % Steiermark 26,400 106.1 % Kärnten 26,100 104.6 % Niederösterreich 24,900 100.1 % Poorest Burgenland 20,300 81.4 %  Belgium 28,800 115.7% Richest Bruxelles-Cap., Brussels Hfdst. 54,100 216 % Antwerpen 33,700 135 % Vlaams Brabant 30,100 120 % Brabant Wallon 29,000 116 % West-Vlaanderen 27,100 108 % Oost-Vlaanderen 25,800 103 % Liége 21,400 86 % Limburg 21,400 86 % Namur 20,100 80 % Hainaut 19,100 76 % Poorest Luxembourg 19,100 76 %  Bulgaria 10,900 44% Richest Yugozapaden 18,200 73 % Severoiztochen 9,400 37 % Yugoiztochen 9,000 36 % Yuzhen tsentralen 7,600 30 % Severen tsentralen 7,500 30 % Poorest Severozapaden 7,100 28 %  Cyprus 24,400 97%  Czech Republic 20,200 80% Richest Praha 43,200 172 % Střední Čechy 18,600 74 % Jihovýchod 18,400 74 % Moravskoslezsko 17,400 69 % Jihozápad 17,100 68 % Severovýchod 16,200 65 % Střední Morava 16,100 64 % Poorest Severozápad 15,600 62 %  Denmark 30,800 123% Richest Hovedstaden 38,000 152 % Midtjylland 29,300 117 % Syddanmark 28,800 115 % Nordjylland 28,500 114 % Poorest Sjælland 23,100 92 %  Estonia 17,000 68%  Finland 29,500 118% Richest Åland 36,300 145 % Etelä-Suomi 33,600 134 % Länsi-Suomi 26,500 106 % Pohjois-Suomi 25,900 103 % Poorest Itä-Suomi 22,300 89 %  France 26,700 107% Richest Île-de-France 42,000 168 % Rhône-Alpes 26,800 107 % Provence-Alpes-Côte d'Azur 25,200 101 % Alsace 24,900 99 % Champagne-Ardenne 24,600 98 % Upper Normandy 24,200 97 % Pays de la Loire 24,100 96 % Aquitaine 24,000 96 % Midi-Pyrénées 24,000 96 % Burgundy 23,300 93 % Brittany 23,300 93 % Centre 23,300 93 % Auvergne 22,200 89 % Poitou-Charentes 22,000 88 % Franche-Comté 21,900 87 % Nord-Pas-de-Calais 21,700 87 % Lower Normandy 21,600 86 % Lorraine 21,500 86 % Limousin 21,300 85 % Languedoc-Roussillon 21,000 84 % Picardy 21,000 84 % Corsica 20,900 83 % Martinique 19,000 76 % Guadeloupe 17,200 69 % Réunion 15,700 63 % Poorest French Guiana 12,400 50 %  Germany 29,000 116% Richest Hamburg 47,100 188 % Oberbayern 40,500 162 % Bremen 39,500 158 % Darmstadt 39,100 156 % Stuttgart 34,700 139 % Mittelfranken 33,500 134 % Düsseldorf 33,100 132 % Karlsruhe 32,700 130 % Oberpfalz 31,400 125 % Tübingen 31,400 125 % Schwaben 30,300 121 % Köln 29,100 116 % Unterfranken 29,100 116 % Niederbayern 28,700 115 % Freiburg 28,700 114 % Saarland 28,700 114 % Kassel 28,300 113 % Oberfranken 28,300 113 % Hannover 27,900 111 % Detmold 27,800 111 % Braunschweig 27,400 109 % Arnsberg 27,200 108 % Gießen 27,200 108 % Rheinhessen-Pfalz 26,300 105 % Weser-Ems 25,400 102 % Schleswig-Holstein 24,900 99 % Berlin 24,700 99 % Münster 24,700 99 % Koblenz 24,100 96 % Trier 23,600 94 % Leipzig 22,300 89 % Brandenburg-Südwest 21,900 88 % Dresden 21,800 87 % Sachsen-Anhalt 21,400 85 % Lüneburg 21,100 84 % Thüringen 21,100 84 % Chemnitz 20,800 83 % Mecklenburg-Vorpommern 20,400 81 % Poorest Brandenburg-Nordost 18,800 75 %  Greece 23,500 94% Richest Βορείου Αιγαίου – North Aegean 28,300 113 % Αττικής – Attica 28,200 113 % Στερεά Ελλάδα – Central Greece 25,100 100 % Κρήτη – Crete 23,500 94 % Ιονίων Νησιών – Ionian Islands 22,500 90 % Δυτική Ελλάδα – West Greece 21,100 84 % Δυτικής Μακεδονίας – West Macedonia 21,100 84 % Πελοποννήσου – Peloponnese 21,100 84 % Κεντρικής Μακεδονίας – Central Macedonia 20,300 81 % Νοτίου Αιγαίου – South Aegean 19,900 80 % Θεσσαλίας – Thessaly 19,500 78 % Ηπείρου – Hepirus 18,400 73 % Poorest Ανατολικής Μακεδονίας και Θράκης – East Macedonia and Thrace 16,600 66 %  Hungary 16,200 64% Richest Közép Magyarország 26,800 107 % Nyugat Dunántúl 15,700 63 % Közép Dunántúl 14,500 58 % Dél Dunántúl 11,100 44 % Dél Alföld 10,800 43 % Észak Alföld 10,000 40 % Poorest Észak Magyaroszág 10,000 40 %  Ireland 33,300 133% Richest Southern and Eastern 37,000 148 % Poorest Border, Midland and Western 23,300 93 %  Italy 26,000 104% Richest South Tyrol 34,300 137 % Lombardia 33,500 134 % Emilia–Romagna 31,900 127 % Lazio 30,800 123 % Trentino 30,700 122 % Veneto 30,500 122 % Valle d’Aosta 30,300 121 % Friuli-Venezia Giulia 29,200 117 % Piemonte 28,500 114 % Toscana 28,500 114 % Liguria 27,100 108 % Marche 26,500 106 % Umbria 24,400 97 % Abruzzo 21,400 85 % Molise 20,100 80 % Sardegna 19,700 79 % Basilicata 19,100 76 % Puglia 16,900 67 % Sicilia 16,600 66 % Calabria 16,400 66 % Poorest Campania 16,400 66 %  Latvia 14,100 56%  Lithuania 15,300 61%  Luxembourg 70,000 279%  Malta 19,500 78%  Netherlands 33,500 134% Richest Groningen 49,700 198 % Utrecht 39,300 157 % Noord-Holland 38,200 152 % Zuid-Holland 34,400 137 % Noord-Brabant 33,300 133 % Zeeland 30,800 123 % Limburg 29,500 118 % Overijssel 29,000 116 % Gelderland 28,200 112 % Friesland 27,400 110 % Drenthe 25,800 103 % Poorest Flevoland 25,600 102 %  Poland 14,100 56% Richest Mazowieckie 22,200 89 % Śląskie 15,200 61 % Dolnośląskie 15,200 60 % Wielkopolskie 14,700 59 % Pomorskie 13,400 53 % Łódzkie 13,100 52 % Zachodniopomorskie 12,800 51 % Kujawsko-Pomorskie 12,200 49 % Małopolskie 12,200 49 % Lubuskie 12,100 48 % Opolskie 12,000 48 % Świętokrzyskie 11,300 45 % Warmińsko-Mazurskie 10,500 42 % Podlaskie 10,300 41 % Lubelskie 9,800 39 % Poorest Podkarpackie 9,700 39 %  Portugal 19,500 78% Richest Lisboa 27,200 109 % Madeira 25,800 103 % Algarve 21,500 86 % Açores 18,300 73 % Alentejo 18,100 72 % Centro 16,100 64 % Poorest Norte 15,600 62 %  Romania 10,700 47% Richest Bucureşti – Ilfov 28,300 113 % Vest 12,700 51 % Centru 11,200 45 % Nord-Vest 10,400 41 % Sud – Muntenia 9,800 39 % Sud-Est 9,700 39 % Sud-Vest Oltenia 9,100 36 % Poorest Nord-Est 7,200 29 %  Slovakia 18,100 72% Richest Bratislavský kraj 41,800 167 % Západné Slovensko 17,400 69 % Stredné Slovensko 14,800 59 % Poorest Východné Slovensko 12,700 51 %  Slovenia 22,800 91% Richest Zahodna Slovenija 27,300 109 % Poorest Vzhodna Slovenija 18,900 76 %  Spain 25,900 103% Richest País Vasco 34,500 138 % Madrid 33,500 134 % Navarre 32,900 131 % Catalonia 30,300 121 % Aragón 28,300 113 % Islas Baleares 27,900 111 % La Rioja 27,800 111 % Cantabria 26,200 105 % Castilla y León 25,200 100 % Ceuta 24,500 98 % Asturias 24,300 97 % Melilla 23,300 93 % Comunidad Valenciana 23,200 93 % Islas Canarias 22,600 90 % Galicia 22,300 89 % Murcia 21,400 85 % Castilla-La Mancha 20,000 80 % Andalucía 19,900 80 % Poorest Extremadura 18,300 73 %  Sweden 30,700 122% Richest Stockholm 41,900 167 % Övre Norrland 29,500 118 % Västsverige 29,400 117 % Mellersta Norrland 28,400 113 % Småland med öarna 27,700 110 % Sydsverige 26,700 107 % Norra Mellansverige 26,500 106 % Poorest Östra Mellansverige 26,500 106 %  United Kingdom 28,700 115% Richest Inner London 85,800 343 % North Eastern Scotland 39,300 157 % Berkshire, Buckinghamshire & Oxfordshire 38,500 154 % Bedfordshire & Hertfordshire 31,500 126 % Gloucestershire, Wiltshire & Bristol 31,200 125 % Cheshire 31,200 124 % Surrey, East & West Sussex 29,200 117 % Eastern Scotland 29,100 116 % Hampshire & Isle of Wight 28,900 115 % Leicestershire, Rutland & Northamptonshire 28,400 113 % East Anglia 26,500 106 % East Wales 27,100 108 % South Western Scotland 26,000 104 % North Yorkshire 25,900 103 % Greater Manchester 25,700 102 % West Yorkshire 25,600 102 % Herefordshire, Worcestershire & Warwickshire 25,300 101 % Outer London 25,300 101 % West Midlands 25,100 100 % Derbyshire & Nottinghamshire 24,000 96 % Dorset & Somerset 24,000 96 % Essex 24,000 96 % Northumberland and Tyne & Wear 23,900 95 % Kent 23,200 93 % Northern Ireland 22,800 91 % Lancashire 22,500 90 % Cumbria 22,300 89 % East Riding & Northern Lincolnshire 22,000 88 % Devon 21,800 87 % Highlands & Islands 21,900 87 % Shropshire & Staffordshire 21,800 87 % South Yorkshire 21,500 86 % Lincolnshire 20,500 82 % Merseyside 20,300 81 % Tees Valley & Durham 20,200 81 % Cornwall & Isles of Scilly 18,700 75 % Poorest West Wales & The Valleys 17,900 71 %

Richest & Poorest NUTS-1 Regions (GDP PPP 2008) Member State Region GDP per capita in Euros As % of EU-27 average  European Union 25,100 100.0%  Austria 31,100 124% Richest Ostösterreich 32,400 129 % Westösterreich 32,200 128 % Poorest Südösterreich 26,700 106 %  Belgium 28,800 115% Richest Bruxelles-Cap., Brussels Hfdst. 54,100 216 % Vlaams Gewest 28,800 115 % Poorest Région Wallonne 21,000 84 %  Bulgaria 10,900 44% Richest Yugozapadna i Yuzhna Tsentralna Bulgaria 13,700 55 % Poorest Severna i Iztochna Bulgaria 8,300 33 %  Cyprus 24,400 97%  Czech Republic 20,200 80%  Denmark 30,800 123%  Estonia 17,000 68%  Finland 29,500 118% Richest Åland 36,300 145 % Poorest Manner-Suomi 29,500 118 %  France 26,700 107% Richest Île-de-France 42,000 168 % Centre-est 26,000 104 % Sud-ouest 23,700 95 % Méditerranée 23,600 94 % Ouest 23,300 93 % Bassin parisien 23,000 92 % Est 22,800 91 % Nord-Pas-de-Calais 21,700 87 % Poorest Départements d'Outre-Mer 16,400 65 %  Germany 29,000 116% Richest Hamburg 47,100 188 % Bremen 39,500 158 % Hessen 34,800 139 % Bayern 33,900 135 % Baden-Württemberg 32,400 129 % Nordrhein-Westfalen 29,100 116 % Saarland 28,700 114 % Niedersachsen 25,500 102 % Rheinland-Pfalz 25,100 100 % Schleswig-Holstein 24,900 99 % Berlin 24,700 99 % Sachsen 21,500 86 % Sachsen-Anhalt 21,400 85 % Thüringen 21,100 84 % Brandenburg 20,500 82 % Poorest Mecklenburg-Vorpommern 20,400 81 %  Greece 23,500 94% Richest Attica 28,200 113 % Aegean Islands, Crete 24,200 97 % Central Greece 20,900 83 % Poorest Northern Greece 19,600 78 %  Hungary 16,200 64% Richest Közép Magyarország 26,800 107 % Dunántúl 13,800 55 % Poorest Alföld és Észak 10,300 41 %  Ireland 33,300 133%  Italy 26,000 104% Richest Nord Ovest 31,500 126 % Nord Est 31,000 124 % Centro 29,000 116 % Isole 17,400 69 % Poorest Sud 17,200 69 %  Latvia 14,100 56%  Lithuania 15,300 61%  Luxembourg 70,000 279%  Malta 19,500 78%  Netherlands 33,500 134% Richest West-Nederland 36,300 145 % Noord-Nederland 34,500 138 % Zuid-Nederland 32,100 128 % Poorest Oost-Nederland 28,200 112 %  Poland 14,100 56% Richest Region Centralny 19,200 77 % Region Południowo-Zachodni 14,300 57 % Region Południowy 14,000 56 % Region Północno-Zachodni 13,700 55 % Region Północny 12,200 49 % Poorest Region Wschodni 10,100 40 %  Portugal 19,500 78% Richest Madeira 25,800 103 % Continente 19,400 77 % Poorest Açores 18,300 73 %  Romania 11,700 47% Richest Macroregiunea Trei 17,300 69 % Macroregiunea Unu 10,800 43 % Macroregiunea Patru 10,700 43 % Poorest Macroregiunea Doi 8,300 33 %  Slovakia 18,100 72%  Slovenia 22,800 91%  Spain 25,900 103% Richest Madrid 33,500 134 % Noreste 31,900 127 % Este 27,400 110 % Noroeste 23,300 93 % Canarias 22,600 90 % Centro 22,000 88 % Poorest Sur 20,200 81 %  Sweden 30,700 122% Richest Östra Sverige 35,000 140 % Södra Sverige 28,100 112 % Poorest Norra Sverige 27,800 111 %  United Kingdom 28,700 115% Richest London 49,200 196 % South East (England) 30,400 121 % Scotland 28,000 112 % East of England 27,200 109 % South West (England) 26,100 104 % East Midlands (England) 25,100 100 % West Midlands (England) 24,800 99 % North West (England) 24,200 97 % Yorkshire & the Humber 24,000 96 % Northern Ireland 22,800 91 % North East (England) 22,200 89 % Poorest Wales 21,200 85 %

Source: Eurostat^[33]

See also

• European Union value added tax

References

• ^ Cells shaded in green indicate forecast figure
• ^ One region may be classified by Eurostat as a NUTS-1, NUTS-2 as well as a NUTS-3 region. Several NUTS-1 regions are also classified as NUTS-2 regions such as Brussels-Capital or Ile-de-France. Many countries are only classified as a single NUTS-1 and a single NUTS-2 region such as Latvia, Lithuania, Luxemburg and (although over 3 million inhabitants) Denmark.
• "Euro-indicators News release". June 2005 inflation data. http://epp.eurostat.ec.europa.eu/pls/portal/docs/PAGE/PGP_PRD_CAT_PREREL/PGE_CAT_PREREL_YEAR_2005/PGE_CAT_PREREL_YEAR_2005_MONTH_07/2-18072005-EN-AP.PDF. Retrieved 18 July 2005. 
• "Euro-indicators News release". May 2005 unemployment data. http://epp.eurostat.ec.europa.eu/pls/portal/docs/PAGE/PGP_PRD_CAT_PREREL/PGE_CAT_PREREL_YEAR_2005/PGE_CAT_PREREL_YEAR_2005_MONTH_07/3-01072005-EN-AP.PDF. Retrieved 18 July 2005. 
• "World Bank". GNI data (July 2005). http://www.worldbank.org/data/quickreference/quickref.html. Retrieved 4 August 2005. 

The following links are used for the GDP growth and GDP totals (IMF):

• Link to 10 new memberstates Growth Rates
• Link to Growth Rates for the Eurozone
• Link to non-Eurozone EU15 countries Growth Rates

External links

	Book: European Union
Wikipedia books are collections of articles that can be downloaded or ordered in print.

• European Commission – Economic and Financial Affairs
• Eurostat - Statistics Explained - All articles on economy and finance

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