Economy of the European Union

Economy of the European Union
Currency 1 Euro (€) = 100 cents
Statistics
GDP ranking 1st (2013)
GDP (Nominal) US$17.372 trillion (2013)
€13.070 trillion (2013)
GDP (PPP) US$16.260 trillion (2013)
GDP growth rate 0,1% (2013)
GDP per capita US$34,300 (nominal)
US$32,152 (PPP) (2013)
GDP by sector (2006) 70.5% services
27.3% industry
  2.1% agriculture
Inflation 1.5 % (2013)
Population below poverty threshold 17%
Labour force 240.2 million
Labour force by occupation (2011) 69.8% services
25.2% industry
  5.0% agriculture
Unemployment 10.4% (April 2014)
Sources:

Trading partners
Export of goods €1.737 trillion (2013)
$2.302 trillion (2013)
Export of services €657.4 billion (2013)
$880 billion (2013)

Export goods (2013)

machinery and transport equipment 40.7%; other manufactured goods 22.1%; chemicals and related products 15.7%; food, drinks and tobacco 6.0%; mineral fuels and lubricants 7.0%; raw materials 2.6%; commodities and transactions 5.8%

Main export partners (2013)

 United States 16.5%
  Switzerland 9.7%
 China 8.5%
 Russia 6.9%
 Turkey 4.5%
 Japan 3.1%
 Norway 2.9%
Import of goods €1.682 trillion (2013)
$2.235 trillion (2013)
Import of services €510.6 billion (2012)
$667.0 billion (2013)

Import goods (2013)

machinery and transport equipment 25.8%; other manufactured goods 22.7%; mineral fuels and lubricants 29.6%; chemicals and related products 9.4%; food, drinks and tobacco 5.6%; raw materials 4.5%; commodities and transactions 2.4%

Main import partners (2013)

 China 16.6%
 Russia 12.2%
 United States 11.6%
  Switzerland 5.6%
 Norway 5.3%
 Japan 3.64%
 Turkey 3.0%
FDI inward stock € 3.947 trillion (2012)
FDI outward stock € 5.206 trillion (2012)
Sources:
Balance of Payments
Current account € 155.736 billion (2013)
Sources:
Public finances
Government debt € 11,386.0 billion
(87.1% of GDP) (2013)
Deficit spending € -437.3 billion
(-3.3% of GDP) (2013)
Expenditure 49.0% of GDP (2013)
Revenue 45.7% of GDP (2013)
Sources:

The economy of the European Union generates a GDP (nominal) of about €14.303 trillion (US$18.451 trillion in 2014) and a GDP (PPP) of about €12.710 trillion (US$16.773 trillion in 2014) according to International Monetary Fund,[1] which makes it the largest or second largest economy in the world respectively if treated as the economy of a single country depending on a source used.

The European Union (EU) economy consists of an internal market and the EU is represented as a unified entity in the World Trade Organization (WTO).

Currency

Main articles: Euro and Eurozone

19 out of 28 EU member states use the euro as official currency in a currency union. Five of these 19 eurozone states struggle with a debt crisis after having joined the euro. The remaining 9 states use their own currency with the possibility to join the euro later. The euro is also the most widely used currency in the EU.

The Stability and Growth Pact sets out the fiscal criteria to maintain for stability and (economic) convergence. The Maastricht treaty sets out more rigid criteria for the states joining the euro.

Denmark and the United Kingdom, not members of the eurozone, have special opt-outs concerning the later joining. 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

Further information: Budget of the European Union

The operation of the EU has an agreed budget of €141 billion for the year 2011, and €862 billion for the period 2007–2013,[2] this represents around 1% of the EU's GDP.

Economic variation

GDP-based treemap over the EU countries

Below is a table showing, respectively, the GDP and the GDP (PPP) per capita for the European Union and for each of its 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 Bulgaria 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 2014
millions of
euro		 Population
in millions[3]
 GDP (PPP)
per capita 2013
euro		 GDP (Nominal)
per capita 2014
euro		 GDP (PPP)
per capita 2013
EU28 = 100
Eurozone
yes/no
 European Union 13,920,541 507.4 26,600 27,300 100%
 Germany 2,903,790 80.8 32,600 35,200 122% yes
 United Kingdom 2,217,872 64.3 28,900 34,400 109% no
 France 2,142,022 65.9 28,400 32,400 107% yes
 Italy 1,616,048 60.8 26,500 26,600 99% yes
 Spain 1,058,469 46.5 25,000 22,800 94% yes
 Netherlands 653,476 16.8 34,900 38,700 131% yes
 Sweden 429,468 9.6 33,700 44,300 127% no
 Poland 412,189 38.5 17,900 10,700 67% no
 Belgium 402,270 11.2 31,600 36,100 119% yes
 Austria 328,996 8.5 34,000 38,500 128% yes
 Denmark 256,938 5.6 33,100 45,500 124% no
 Finland 204,015 5.5 30,100 37,400 113% yes
 Ireland 185,412 4.6 34,500 40,200 130% yes
 Greece 179,081 11.0 19,400 16,300 73% yes
 Portugal 174,384 10.4 21,000 16,800 79% yes
 Czech Republic 154,939 10.5 21,900 14,700 82% no
 Romania 150,665 19.9 14,500 7,600 55% no
 Hungary 103,303 9.9 17,600 10,500 66% no
 Slovakia 75,215 5.4 20,000 13,900 76% yes
 Croatia 43,085 4.2 16,100 10,200 61% no
 Luxembourg 45,288(2013) 0.5 68,500 83,100(2013) 257% yes
 Bulgaria 42,011 7.2 11,900 5,800 45% no
 Slovenia 37,246 2.1 21,800 18,100 82% yes
 Lithuania 36,288 2.9 19,400 12,400 73% yes
 Latvia 24,058 2.0 17,000 12,100 64% yes
 Estonia 19,526 1.3 19,500 14,800 73% yes
 Cyprus 17,506 0.9 23,600 20,500 89% yes
 Malta 7,962 0.4 23,000 18,600 86% yes
EU Candidates GDP 2013
millions of
euro		 Population
in millions
 GDP (PPP)
per capita 2013
euro		 GDP (Nominal)
per capita 2013
euro		 GDP (PPP)
per capita 2013
perc. of EU28
Eurozone
yes/no
 Turkey 617,794 76.7 9,500 7,500(2011) 53% no
 Serbia 33,059(2014) 7.1 9,800 4,800 37% no
 Iceland 12,854(2014) 0.3 31,700 39,500(2014) 119% no
 Albania 8,975[4] 2,9 7,800 2,803 28% no
 Macedonia 8,123 2.1 9,500 3,900 36% no
 Montenegro 3,149(2012) 0.6 40% no
EFTA members GDP 2014
millions of
euro		 Population
in millions
 GDP (PPP)
per capita 2013
euro		 GDP (Nominal)
per capita 2014
euro		 GDP (PPP)
per capita 2013
perc. of EU28
Eurozone
yes/no
  Switzerland 516,068(2013) 8.1 43,000 63,800(2013) 163% no
 Norway 377,224 5.1 49,600 73,400 186% no

p: provisional value
e: estimated value
Source: GDP Millions:EUROSTAT,[5] GDP(nominal) per inhabitant: EUROSTAT,[5] GDP per capita in PPS :EUROSTAT,[6] GDP per capita expressed in PPS in percentage of EU (2013): EUROSTAT[7]

Economies of member states

GDP per capita in 2012

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, October 2014 (International Monetary Fund).[8]

Member State
sorted by GDP		 GDP
in billions
of USD
(2014)[8]		 GDP
% of EU
(2014)		 Annual
change
% of GDP
(2013)		 GDP
per capita
in PPP US$
(2014) 		Public Debt[9]
% of GDP
(2014)		 Deficit (-)/
Surplus (+)[10]
% of GDP
(2013) 		Inflation
% Annual[11]
(2014)		 Unemp.[12]
%
2015 M03
 European Union[13] 18,398.7 100.0 0.1 35,849 86.8 −3.1 0.6 9.8
 Germany 3,859.5(e) 21.0% 0.4 45,888(e) 74.7 0.0 0.8 4.7
 United Kingdom 2,945.1 16.0% 1.7 39,511 89.4 −4.3 1.5 5.5(M1)
 France 2,846.9 15.5% 0.2 40,375 95.0 −5.7 0.6 10.6
 Italy 2,148.0 11.7% −1.9 35,486 132.1 −3.1 0.2 13.0
 Spain 1,406.9 7.6% −1.2 33,711 97.7 −6.6 -0.2 23.0
 Netherlands 866.5 4.7% −0.8 47,354 68.8 −2.5 0.3 7.0
 Sweden 570.1 3.1% 1.5 45,986 43.9 −1.1 0.2 7.6
 Poland 546.6(e) 3.0% 1.6 25,105 50.1 −4.3 0.1 7.7
 Belgium 534.7 2.9% 0.2 42.973(e) 106.5 −2.8 0.5 8.5
 Austria 437.1(e) 2.4% 0.8 46.420(e) 84.5 −0.9 1.5 5.6
 Denmark 340.8(e) 1.9% 0.4 44,343(e) 45.2 −0.9 0.3 6.4
 Finland 271.2 1.5% −1.4 40.347(e) 59.3 −2.1 1.2 9.1
 Ireland 246.4 1.3% 0.9 49,195 109.7 −6.7 0.3 9.8
 Greece 238.0 1.3% 0.8 25,859 177.1 −2.1 -1.4 25.7(M1)
 Portugal 230.0 1.3% 0.9 26.975 130.2 −4.5 -0.2 13.5
 Czech Republic 205.7 1.1% −0.9 29.925(e) 42.6 −1.5 0.4 5.8
 Romania 200.0 1.1% 3.5 19.712 39.8 −2.3 1.4 6.5
 Hungary 137.1(e) 0.7% 1.1 24.942(e) 76.9 −2.2 0.0 7.4(M2)
 Slovakia 100.0 0.5% 0.9 28.175(e) 53.6 −2.8 -0.1 12.2
 Luxembourg 62.4(e) 0.3% 2.1 92.049(e) 23.6 0.1 0.7 5.7
 Croatia 57.2 0.3% -1.0 20,889(e) 85.0 −4.9 0.2 18.2
 Bulgaria 55.8 0.3% 0.9 17,860 27.6 −1.5 -1.6 10.4
 Slovenia 49.5 0.3% −1.1 29,658 80.9 −4.3 0.4 9.3
 Lithuania 48.2(e) 0.3% 3.3 27,051(e) 40.9 0.2 1.2 9.5
 Latvia 32.0(e) 0.2% 4.1 23,706(e) 40.0 −1.1 0.7 10.4(M12 2014)
 Estonia 26.0(e) 0.1% 0.8 26,999(e) 10.6 −0.2 0.5 5.9(M2)
 Cyprus 23.7 0.1% −5.4 30,769 107.5 −5.2 -0.3 16.0
 Malta 10.6(e) 0.06% 3.5 33,216(e) 68.0 −2.1 0.8 5.8

Economic growth

Population and GDP per capita of EU member states and some candidates
Economic growth (growth of real GDP).

The EU's share of Gross world product (GWP) is stable at around one fifth.[14]

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 2005–2011 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 (2011), Estonia had the highest GDP growth from all the states in EU (7,6%). 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.

EU Member States GDP growth rates[15]
Member State 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2005 – 2014[16]
 Austria 2.1 3.4 3.6 1.5 −3.8 1.9 3.1 0.9 0.2 0.3 13.2
 Belgium 1.9 2.6 3.0 1.0 −2.6 2.5 1.6 0.1 0.3 1.0 11.4
 Bulgaria 6.0 6.5 6.9 5.8 −5.0 0.7 2.0 0.5 1.1 1.7 26.2
 Croatia 4.2 4.8 5.2 2.1 −7.4 -1.7 -0.3 -2.2 -0.9 -0.4 3.2
 Cyprus 3.9 4.5 4.9 3.6 −2.0 1.4 0.3 −2.4 style="background: #ffdddd; color: black; vertical-align: middle; text-align: center; " class="table-no2" | −5.4 style="background: #ffdddd; color: black; vertical-align: middle; text-align: center; " class="table-no2" | -2.3 6.6
 Czech Republic 6.4 6.9 5.5 2.7 −4.8 2.3 2.0 −0.8 -0.7 2.0 21.5
 Denmark 2.4 3.8 0.8 −0.7 −5.1 1.6 1.2 −0.7 -0.5 1.0 3.8
 Estonia 9.5 10.4 7.9 style="background: #ffdddd; color: black; vertical-align: middle; text-align: center; " class="table-no2" | −5.3 −14.7 2.5 style="background:#bfd; color:black; vertical-align:middle; text-align:center; " class="table-yes2" | 8.3 4.7 1.6 2.1 26.7
 Finland 2.8 4.1 5.2 0.7 −8.3 3.0 2.6 −1.5 -1.2 -0.1 7.3
 France 1.6 2.4 2.4 0.2 −2.9 2.0 2.1 0.3 0.3 0.4 8.8
 Germany style="background: #ffdddd; color: black; vertical-align: middle; text-align: center; " class="table-no2" | 0.7 3.7 3.3 1.1 −5.6 4.1 3.6 0.4 0.1 1.6 13
 Greece 0.9 5.8 3.5 −0.4 −4.4 style="background: #ffdddd; color: black; vertical-align: middle; text-align: center; " class="table-no2" | −5.4 style="background: #ffdddd; color: black; vertical-align: middle; text-align: center; " class="table-no2" | −8.9 style="background: #ffdddd; color: black; vertical-align: middle; text-align: center; " class="table-no2" | −6.6 −3.9 0.8 style="background: #ffdddd; color: black; vertical-align: middle; text-align: center; " class="table-no2" | −18.6
 Hungary 4.3 4.0 style="background: #ffdddd; color: black; vertical-align: middle; text-align: center; " class="table-no2" | 0.5 0.9 −6.6 0.8 1.8 −1.5 1.5 3.6 9.3
 Ireland 5.7 5.5 4.9 −2.6 −6.4 −0.3 2.8 -0.3 0.2 style="background:#bfd; color:black; vertical-align:middle; text-align:center; " class="table-yes2" | 4.8 14.2
 Italy 0.9 2.0 1.5 −1.0 −5.5 1.7 0.6 −2.3 -1.9 -0.4 −4.4
 Latvia style="background:#bfd; color:black; vertical-align:middle; text-align:center; " class="table-yes2" | 10.2 style="background:#bfd; color:black; vertical-align:middle; text-align:center; " class="table-yes2" | 11.6 9.8 −3.2 −14.2 −2.9 5.0 style="background:#bfd; color:black; vertical-align:middle; text-align:center; " class="table-yes2" | 4.8 style="background:#bfd; color:black; vertical-align:middle; text-align:center; " class="table-yes2" | 4.2 2.4 27.7
 Lithuania 7.8 7.4 style="background:#bfd; color:black; vertical-align:middle; text-align:center; " class="table-yes2" | 11.1 2.6 style="background: #ffdddd; color: black; vertical-align: middle; text-align: center; " class="table-no2" | −14.8 1.6 6.1 3.8 3.3 2.9 31.8
 Luxembourg 4.1 4.9 6.5 0.5 −5.3 5.1 2.6 -0.2 2.0 2.8 23
 Malta 3.8 1.8 4.0 3.3 −2.5 3.5 2.2 2.5 2.5 3.5 24.6
 Netherlands 2.3 3.8 4.2 2.1 −3.3 1.1 1.7 −1.6 -0.7 0.8 10.4
 Poland 3.5 6.2 7.2 3.9 style="background:#bfd; color:black; vertical-align:middle; text-align:center; " class="table-yes2" | 2.6 3.7 4.8 1.8 1.7 3.3 style="background:#bfd; color:black; vertical-align:middle; text-align:center; " class="table-yes2" |38.7
 Portugal 0.8 style="background: #ffdddd; color: black; vertical-align: middle; text-align: center; " class="table-no2" | 1.6 2.5 0.2 −3.0 1.9 −1.8 −3.3 -1.4 0.9 −1.6
 Romania 4.2 8.1 6.9 style="background:#bfd; color:black; vertical-align:middle; text-align:center; " class="table-yes2" | 8.5 −7.1 −0.8 1.1 0.6 3.4 2.9 27.8
 Spain 3.7 4.2 3.8 1.1 −3.6 0.0 -0.6 −2.1 −1.2 1.4 6.7
 Slovakia 6.5 8.3 10.7 5.4 −5.3 4.8 2.7 1.6 1.4 2.4 38.5
 Slovenia 4.0 5.7 6.9 3.3 −7.8 1.2 0.6 −2.6 -1.0 2.6 12.9
 Sweden 2.8 4.7 3.4 −0.6 −5.2 style="background:#bfd; color:black; vertical-align:middle; text-align:center; " class="table-yes2" | 6.0 2.7 -0.3 1.3 2.1 16.9
 United Kingdom 2.8 3.0 2.6 −0.3 −4.3 1.9 1.6 0.7 1.7 2.6 12.3
 European Union 2.0 3.4 3.1 0.5 −4.4 2.1 1.7 −0.4 0.0 1.3 9.3
Eurozone 1.7 3.2 3.0 0.5 −4.5 2.0 1.6 −0.7 -0.5 0.9 7.2

Energy resources

The European Union has limited 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 19th largest producer of oil in the world, producing 1,241,370 (2013) barrels a day.

It is the world's second largest consumer of oil, consuming much more than it can produce, at 12,790,000 (2013) 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

  EU
  Top 10 trading partners (2010)
  Top 11–20 trading partners (2010)
EU imports, exports and balance of trade in goods from 2007 to 2013 (in billions of euro)
EU current account(quarterly data ) in millions of euro.

The European Union is the largest exporter in the world[17] and as of 2008 the largest importer of goods and services.[18] 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.[19]

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. When the EU negotiates trade related agreement outside the WTO framework, the subsequent agreement must be approved by each individual EU member.[19]

Main trading partners(2013)[20]
RankPartnersImports (million euro)% (of total)Exports (million euro)% (of total)Total trade (million euro)% (of total)
-Total EU1,683,443100%1,732,928100%3,416,371100%
1 United States195,96411,6%287,96216,6%483,92614,2%
2 China297,93116,6%148,1318,5%428,06212,5%
3 Russia206,58112,3%119,7636,9%326,3449,6%
4  Switzerland94,2615,6%169,5499,8%263,8107,7%
5 Norway90,0085,3%50,1762,9%140,1844,1%
6 Turkey50,2363,0%77,7334,5%127,9693,7%
7 Japan56,4373,4%54,0153,1%110,4523,2%
8 South Korea35,8482,1%39,9592,3%75,8072,2%
9 Brazil33,0152,0%40,0972,3%73,1122,1%
10 India36,8222,2%35,8742,1%72,6972,1%
11 Saudi Arabia30,0791,8%33,6701,9%63,7491,9%
12 Canada27,2621,6%31,6191,8%58,8811,7%
13 Algeria31,8321,9%22,3871,3%54,2191,6%
14 United Arab Emirates9,2210,5%44,6492,6%53,8701,6%
15 Singapore17,5941,0%28,6611,7%46,2541,6%
16 Hong Kong10,2430,6%35,7362,1%45,9791,3%
17 Mexico17,5281,0%27,4201,6%44,9491,3%
18 Australia10,1690,6%32,0821,9%42,2511,2%
19 Nigeria28,6501,7%11,7430,7%40,3931,2%
20 South Africa15,5370,9%24,4861,4%40,0231,2%
21 Taiwan22,1161,3%16,5091,0%38,6251,1%
22 Ukraine13,7870,8%23,9391,4%37,7261,1%
23 Malaysia19,3481,1%14,3090,8%33,6571,0%
24 Thailand17,0911,0%15,0330,9%32,1240,9%
25 Libya23,1731,4%7,9030,5%31,0760,9%
26 Kazakhstan23,4671,4%7,4920,4%30,9590,9%
27 Israel12,4800,7%16,9811,0%29,4610,9%
28 Morocco10,0100,6%17,3061,0%27,3160,8%
29 Vietnam21,2661,3%5,7830,3%27,0490,8%
30 Indonesia14,3360,9%9,7080,6%24,0440,7%
31 Egypt7,9360,5%14,9190,9%22,8550,7%
32 Tunisia9,3500,6%11,1690,6%20,5190,6%
33 Chile8,9950,5%9,2520,5%18,2470,5%
34 Argentina8,1390,5%10,0130,6%18,1510,5%
35 Azerbaijan14,1950,8%3,7390,2%17,9340,5%
36 Serbia6,5610,4%9,9410,6%16,5020,5%
37 Iraq10,6360,6%5,4160,3%16,0520,5%
38 Angola9,3110,6%6,2070,4%15,5180,5%
39 Qatar8,9710,5%6,1570,4%15,1280,4%
40 Colombia7,7220,5%5,8660,3%13,5880,4%
41 Bangladesh10,4320,6%1,6560,1%12,0880,4%
42 Belarus3,3990,2%8,6190,5%12,0170,4%
43 Kuwait6,2590,4%5,3050,3%11,5640,3%
44 Philippines5,1010,3%5,7280,3%10,8290,4%
45 Gibraltar5510,0%9,5120,5%10,0630,3%
46 Peru5,3220,3%3,4850,2%8,8070,3%
47 Pakistan4,5120,3%3,8360,2%8,3480,2%
48 Bosnia-Herzegovina3,2410,2%4,7860,3%8,0270,2%
49 Venezuela3,3670,2%4,5360,3%7,9030,2%
50 New Zealand3,0640,2%4,0990,2%7,1630,2%
Trade with partner country groupings(2012)[20]
RankPartner regionImports (million euro)% (of total)Exports (million euro)% (of total)Total trade (million euro)% (of total)
-Total EU1,791,727100%1,686,774100%3,478,501100%
-ACP99,1965,5%86,6525,1%185,8485,3%
-Andean Community17,7281,0%11,7380,7%29,4670,8%
-ASEAN100,0355,6%81,3244,8%181,3605,2%
-BRIC577,51332,2%345,19820,5%922,71126,5%
-CACM9,5460,5%5,3540,3%14,9000,4%
-EU Candidate Countries55,3863,1%89,6545,3%145,0404,2%
-CIS273,50515,3%172,64110,2%446,146012,8%
-EFTA208,73911,7%186,22211,0%394,96111,4%
-Latin America Countries109,9786,1%110,2976,5%220,2756,3%
-MEDA(Excl. EU and Turkey)73,3414,1%92,8125,5%166,1534,8%
-Mercosur49,1962,7%50,2663,0%99,4612,9%
-NAFTA255,65714,3%351,09020,8%606,74617,4%

Unemployment

Unemployment rate by country in the EU in May 2014.
Unemployment rates in selected European countries and in the EU28 between 01/2004 and 04/2014.

The euro area seasonally-adjusted unemployment rate was 12.1% in November 2013, stable since April. The EU unemployment rate was 10.9%, stable since May. In both zones, the rates increased compared with November 2012, when they were 11.8% and 10.8% respectively. Among the Member States, the lowest unemployment rates were recorded in Austria (4.8%), Germany (5.2%) and Luxembourg (6.1%), and the highest in Greece (27.4% in September 2013) and Spain (26.7%).[22]

The following tables show the history of the unemployment rate for all European Union member states and comparisons to the United States and Japan:

Unemployment[23] 2005-03 2006-03 2007-03 2008-03 2009-03 2010-03 2011-03 2012-03 2013-03 2014-03
 Austria 5.0 5.2 4.4 3.7 4.6 4.6 4.2 4.2 4.9 4.9
 Belgium 8.4 8.7 7.8 6.9 7.9 8.3 7.0 7.3 8.3 8.5
 Denmark 5.2 4.2 3.7 3.2 5.3 7.6 7.4 7.7 7.1 6.6
 Finland 8.5 7.9 7.0 6.2 7.6 8.6 7.9 7.5 8.1 8.4
 France 8.7 9.1 8.4 7.1 8.9 9.3 9.1 9.6 10.3 10.4
 Germany 11.4 10.5 9.0 7.8 7.7 7.4 6.2 5.5 5.4 5.2
 Greece 10.1 9.3 8.9 8.2 9.2 11.7 16.1 22.6 27.2 26.8
 Ireland 4.3 4.5 4.7 5.2 11.2 13.3 14.3 15.0 13.7 12.0
 Italy 7.8 7.1 5.9 6.4 7.6 8.4 7.9 10.4 12.0 12.6
 Luxembourg 4.6 4.7 4.3 4.4 5.4 4.6 4.7 5.0 5.7 6.1
 Netherlands 5.5 4.6 3.8 3.0 3.2 4.5 4.2 5.0 6.4 7.2
 Portugal 8.3 8.3 9.1 8.2 10.0 11.7 12.3 14.9 17.3 14.8
 Spain 9.7 8.6 8.0 9.3 17.2 19.4 20.6 23.9 26.3 25.2
 Sweden 7.3 7.4 6.5 5.8 7.8 8.8 7.9 7.5 8.3 8.0
 United Kingdom 4.6 5.3 5.5 5.2 7.3 7.9 7.7 8.1 7.7 6.6
 Bulgaria 10.6 9.1 7.3 5.9 6.0 9.8 11.1 12.0 12.9 13.0
 Croatia 13.2 12.3 10.5 9.1 8.9 10.8 13.7 15.4 16.4 17.4
 Cyprus 5.4 5.0 3.9 3.9 4.6 6.8 7.0 10.7 14.7 16.9
 Czech Republic 8.0 7.7 5.7 4.3 5.9 7.8 6.9 7.0 7.3 6.6
 Estonia 8.6 6.3 5.1 4.3 11.4 18.5 13.1 10.6 8.8 7.7
 Hungary 6.9 7.3 7.3 7.5 9.5 11.4 11.0 11.2 10.6 7.8
 Latvia 11.1 8.1 6.5 6.2 13.7 20.8 17.2 15.7 12.7 11.5
 Lithuania 9.7 6.2 4.1 4.1 11.6 17.7 16.5 13.8 12.4 11.9
 Malta 7.2 7.1 6.9 5.9 6.5 7.0 6.4 6.4 6.2 6.9
 Poland 18.4 15.3 10.3 7.2 7.6 9.9 9.5 9.9 10.6 9.8
 Romania 7.8 7.1 6.6 5.8 6.5 7.6 7.1 7.2 7.2 7.2
 Slovakia 17.0 14.3 11.2 10.1 10.7 14.9 13.6 13.8 14.2 14.0
 Slovenia 6.4 6.2 5.1 4.6 5.3 7.0 8.0 7.9 10.7 9.6
 European Union 9.2 8.5 7.4 6.7 8.6 9.7 9.4 10.2 10.9 10.5

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). In 2013 this represented approximately €45billion (less than 33% of the overall budget of €148billion) of the EU's total spending.[24] It was used originally to guarantee 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 beneficiary of the CAP and the bloc's second largest economy, is its most vocal proponent. The CAP is however witnessing substantial reform. In 1985, around 70% of the EU budget was spent on agriculture. In 2011, direct aid to farmers and market-related expenditure amount to just 30% of the budget, and rural development spending to 11%. By 2011, 90% of direct support had become non-trade-distorting (not linked to production) as reforms have continued to be made to the CAP, its funding and its design.[25]

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 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, Germany and the United Kingdom. It is worth noting however a significant proportion of international visitors to EU countries are from other member states.

London, the capital of the United Kingdom is also the world's most visited city and the highest in tourism receipts, before Paris.[26]

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;[27] 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 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 Audi, Mercedes, Jaguar Land Rover, Volkswagen, BMW group as well as volume manufacturers such as Fiat, PSA group and Renault.

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.[28] The leading regions in the ranking of NUTS-2 regional GDP per inhabitant in 2011 were Inner London in the United Kingdom (321% of the average), the Grand Duchy of Luxembourg (266%) and Bruxelles/Brussels in Belgium (222%). 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."[28]).

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 41 NUTS-2 regions exceeding the 125% level, eleven were in Germany, five in the Netherlands and in Austria, three each in Belgium, Italy and United Kingdom, two each in Spain and Finland and one in Czech Republic, Denmark, Ireland, France, Slovakia and Sweden, as well as in the single region 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 . 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 Free Hanseatic City 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-28 average
1. Inner London  United Kingdom 80,400 321%
2. Luxembourg  Luxembourg 66,700 266%
3. Bruxelles-Cap., Brussels Hfdst.  Belgium 55,600 222%
4. Hamburg  Germany 50,700 202%
5. Bratislavský kraj  Slovakia 46,600 186%
6. Île de France  France 45,600 182%
6. Groningen  Netherlands 45,600 182%
8. Stockholm  Sweden 43,300 173%
9. Praha  Czech Republic 42,900 171%
10. Oberbayern  Germany 42,200 168%
Rank NUTS-1 Region Member state GDP per capita
in Euros As % of EU-28 average
1. Luxembourg  Luxembourg 66,700 266%
2. Bruxelles-Cap., Brussels Hfdst.  Belgium 55,600 222%
3. Hamburg  Germany 50,700 202%
5. London  United Kingdom 45,400 181%
4. Île-de-France  France 45,600 182%
6. Bremen  Germany 39,700 158%
7. Östra Sverige  Sweden 36,300 145%
8. Hessen  Germany 36,200 144%
9. Bayern  Germany 35,300 141%
10. Åland  Finland 34,600 138%
11. Baden-Württemberg  Germany 34,600 138%
12. West-Nederland  Netherlands 34,500 138%
13. Westösterreich  Austria 33,800 135%
14. Ostösterreich  Austria 33,200 132%
15. Basque Country  Spain 32,500 130%
16. Noord-Nederland  Netherlands 32,400 129%
17. Ireland  Ireland 32,300 129%
18. Zuid-Nederland  Netherlands 31,700 127%
19. Denmark  Denmark 31,500 126%
20. Nordrhein-Westfalen  Germany 31,200 124%

Source: Eurostat[28]

Economically weakest NUTS-2 regions

The eight lowest regions in the ranking in 2011 were all in Bulgaria and Romania, with the lowest figures recorded in Severozapaden in Bulgaria and Nord-Est in Romania (both 29% of the average), followed by Severen tsentralen in Bulgaria (31%) and Yuzhen tsentralen in Bulgaria (32%). Among the 75 regions below the 75% level, fifteen were in Poland, nine in Greece, seven each in the Czech Republic and Romania, six in Hungary, five each in Italy and Portugal, four each in Portugal and the United Kingdom, three in Slovakia, two each in Spain, France and Croatia, one in Slovenia as well as the member states Estonia, Latvia and Lithuania.[28]

Rank NUTS-2 Region Member state GDP per capita
in Euros As % of EU-28 average
1. Severozapaden  Bulgaria 7,200 29%
1. Nord-Est  Romania 7,200 29%
3. Severen tsentralen  Bulgaria 7,800 31%
4. Yuzhen tsentralen  Bulgaria 8,100 32%
5. Sud-Vest Oltenia  Romania 9,300 37%
6. Severoiztochen  Bulgaria 9,400 38%
7. Yugoiztochen  Bulgaria 9,500 38%
8. Sud-Est  Romania 9,900 39%
9. Észak-Magyarország  Hungary 10,000 40%
9. Sud-Muntenia  Romania 10,000 40%
Rank NUTS-1 Region Member state GDP per capita
in Euros As % of EU-28 average
1. Macroregiunea Doi  Romania 8,400 33%
2. Severna i Iztochna Bulgaria  Bulgaria 8,600 34%
3. Alföld és Észak  Hungary 10,600 42%
4. Macroregiunea Unu  Romania 10,900 44%
5. Macroregiunea Patru  Romania 11,200 45%
6. Region Wschodni  Poland 11,400 46%
7. Region Północny  Poland 13,900 55%
8. Dunántúl  Hungary 14,500 58%
9. Yugozapadna i Yuzhna Tsentralna Bulgaria  Bulgaria 14,900 59%
10. Latvia  Latvia 15,000 60%
11. Voreia Ellada  Greece 15,400 62%
12. Region Północno-Zachodni  Poland 15,600 62%
13. Kentriki Ellada  Greece 16,200 64%
13. Region Południowy  Poland 16,200 64%
15. Sud  Italy 16,800 67%
16. Lithuania  Lithuania 16,900 68%
17. Isole  Italy 17,000 68%
18. Region Południowo-Zachodni  Poland 17,100 68%
19. Estonia  Estonia 17,400 69%
20. Départements d'Outre-Mer  France 17,600 69%

Source: Eurostat[28]

Richest and poorest NUTS regions (GDP PPP 2011)

Richest and poorest NUTS-2 regions (GDP PPP 2011)

Member State Region GDP per capita
in Euros As % of EU-28 average
 European Union 25,100 100.0%
 Austria 32,300 129%
Richest Vienna 41,300 165%
Salzburg 37,500 149%
Vorarlberg 34,400 137%
Tirol 33,400 133%
Upper Austria 32,500 130%
Styria 28,100 112%
Carinthia 27,600 110%
Lower Austria 26,600 106%
Poorest Burgenland 21,700 87%
 Belgium 30,200 120%
Richest Bruxelles-Cap., Brussels Hfdst. 55,600 222%
Antwerpen 34,800 139%
Vlaams Brabant 31,800 127%
Brabant Wallon 29,800 119%
West-Vlaanderen 28,500 114%
Oost-Vlaanderen 27,400 109%
Limburg 24,900 99%
Liége 22,600 90%
Namur 21,500 86%
Luxembourg 20,300 81%
Poorest Hainaut 19,900 79%
 Bulgaria 11,700 47%
Richest Yugozapaden 19,600 78%
Yugoiztochen 9,500 38%
Severoiztochen 9,400 38%
Yuzhen tsentralen 8,100 32%
Severen tsentralen 7,800 31%
Poorest Severozapaden 7,200 29%
 Croatia 15,300 61%
Richest Kontinentalna Hrvatska 15,600 62%
Poorest Jadranska Hrvatska 14,700 59%
 Cyprus 23,600 94%
 Czech Republic 20,300 81%
Richest Praha 42,900 171%
Jihovýchod 18,400 73%
Střední Čechy 18,200 73%
Moravskoslezsko 17,800 71%
Jihozápad 17,600 70%
Severovýchod 16,700 67%
Střední Morava 16,500 66%
Poorest Severozápad 15,700 63%
 Denmark 31,500 126%
Richest Hovedstaden 38,300 153%
Midtjylland 28,200 113%
Syddanmark 27,800 111%
Nordjylland 27,500 110%
Poorest Sjælland 22,000 88%
 Estonia 17,400 69%
 Finland 29,000 116%
Richest Helsinki-Uusimaa 38,300 153%
Åland 34,600 138%
Länsi-Suomi 26,300 105%
Etelä-Suomi 25,600 102%
Poorest Pohjois-Suomi 23,900 95%
 France 27,400 109%
Richest Île-de-France 45,600 182%
Rhône-Alpes 27,300 109%
Provence-Alpes-Côte d'Azur 26,000 104%
Alsace 25,400 101%
Pays de la Loire 24,100 96%
Upper Normandy 24,000 96%
Aquitaine 23,900 95%
Midi-Pyrénées 23,800 95%
Champagne-Ardenne 23,200 92%
Centre 22,800 91%
Corsica 22,800 91%
Burgundy 22,700 90%
Brittany 22,400 89%
Nord-Pas-de-Calais 22,100 88%
Auvergne 21,900 87%
Poitou-Charentes 21,800 87%
Franche-Comté 21,600 86%
Lower Normandy 21,200 84%
Languedoc-Roussillon 20,500 84%
Lorraine 20,900 83%
Limousin 20,800 83%
Picardy 20,800 83%
Guadeloupe 19,200 77%
Martinique 19,200 77%
Réunion 17,200 69%
Poorest French Guiana 13,200 53%
 Germany 30,800 123%
Richest Hamburg 50,700 202%
Oberbayern 42,200 168%
Darmstadt 40,500 162%
Bremen 39,700 158%
Stuttgart 38,000 152%
Düsseldorf 34,400 137%
Karlsruhe 34,000 135%
Mittelfranken 33,300 133%
Tübingen 33,300 133%
Oberpfalz 32,500 130%
Köln 32,400 129%
Niederbayern 31,400 125%
Unterfranken 31,400 125%
Braunschweig 31,300 125%
Schwaben 31,300 125%
Detmold 30,300 121%
Freiburg 30,200 120%
Saarland 30,200 120%
Hannover 29,900 119%
Kassel 29,600 118%
Berlin 28,300 113%
Rheinhessen-Pfalz 29,400 117%
Oberfranken 29,000 116%
Arnsberg 28,300 113%
Gießen 28,000 112%
Münster 27,800 111%
Weser-Ems 27,300 109%
Koblenz 26,900 107%
Schleswig-Holstein 25,900 103%
Trier 25,300 101%
Leipzig 23,700 95%
Dresden 22,500 89%
Brandenburg 22,200 88%
Chemnitz 21,500 86%
Sachsen-Anhalt 21,500 86%
Lüneburg 21,300 85%
Thüringen 21,200 85%
Poorest Mecklenburg-Vorpommern 21,100 84%
 Greece 20,000 80%
Richest Αττικής – Attica 26,900 107%
Νοτίου Αιγαίου – South Aegean 22,300 89%
Δυτικής Μακεδονίας – West Macedonia 20,000 80%
Ιονίων Νησιών – Ionian Islands 18,900 75%
Στερεά Ελλάδα – Central Greece 18,100 72%
Κρήτη – Crete 17,300 69%
Πελοποννήσου – Peloponnese 16,200 65%
Βορείου Αιγαίου – North Aegean 15,800 63%
Κεντρικής Μακεδονίας – Central Macedonia 15,600 62%
Δυτική Ελλάδα – West Greece 14,900 59%
Ανατολικής Μακεδονίας και Θράκης – East Macedonia and Thrace 14,200 57%
Θεσσαλίας – Thessaly 14,200 56%
Poorest Ηπείρου – Hepirus 13,800 55%
 Hungary 16,900 67%
Richest Közép Magyarország 27,600 110%
Nyugat Dunántúl 17,100 68%
Közép Dunántúl 14,800 59%
Dél Dunántúl 11,200 45%
Dél Alföld 11,100 44%
Észak Alföld 10,700 43%
Poorest Észak Magyarország 10,000 40%
 Ireland 32,300 129%
Richest Southern and Eastern 36,300 145%
Poorest Border, Midland and Western 21,500 86%
 Italy 25,500 102%
Richest South Tyrol 36,900 147%
Lombardia 33,200 132%
Valle d’Aosta 33,000 132%
Emilia–Romagna 31,400 125%
Trentino 30,500 122%
Veneto 29,600 118%
Lazio 29,300 117%
Friuli-Venezia Giulia 29,000 116%
Piemonte 27,600 110%
Toscana 27,600 110%
Liguria 26,700 106%
Marche 25,500 102%
Umbria 23,200 93%
Abruzzo 21,900 87%
Molise 19,700 78%
Sardegna 19,300 77%
Basilicata 17,900 71%
Puglia 16,700 67%
Sicilia 16,300 65%
Calabria 16,100 64%
Poorest Campania 15,700 63%
 Latvia 15,000 60%
 Lithuania 16,900 69%
 Luxembourg 66,700 266%
 Malta 21,500 86%
 Netherlands 32,500 129%
Richest Groningen 45,600 182%
Utrecht 38,200 152%
Noord-Holland 36,600 146%
Noord-Brabant 32,900 131%
Zuid-Holland 32,000 128%
Zeeland 31,000 124%
Limburg 29,000 116%
Overijssel 28,400 113%
Gelderland 27,200 109%
Friesland 26,300 105%
Drenthe 24,800 99%
Poorest Flevoland 23,600 94%
 Poland 16,400 65%
Richest Mazowieckie 26,700 107%
Dolnośląskie 18,500 74%
Śląskie 17,700 70%
Wielkopolskie 17,000 68%
Pomorskie 15,600 62%
Łódzkie 15,200 60%
Małopolskie 14,100 56%
Zachodniopomorskie 13,800 55%
Lubuskie 13,500 54%
Kujawsko-Pomorskie 13,400 54%
Opolskie 13,100 52%
Świętokrzyskie 12,200 49%
Podlaskie 11,800 47%
Warmińsko-Mazurskie 11,800 47%
Poorest Lubelskie 11,100 44%
Podkarpackie 11,100 44%
 Portugal 19,300 77%
Richest Lisboa 26,900 107%
Madeira 24,900 99%
Algarve 19,700 79%
Açores 18,200 72%
Alentejo 17,700 70%
Centro 16,000 64%
Poorest Norte 15,600 62%
 Romania 12,200 49%
Richest Bucureşti – Ilfov 30,700 122%
Vest 13,500 54%
Centru 11,400 45%
Nord-Vest 10,500 42%
Sud – Muntenia 10,000 40%
Sud-Est 9,900 39%
Sud-Vest Oltenia 9,300 37%
Poorest Nord-Est 7,200 29%
 Slovakia 18,900 75%
Richest Bratislavský kraj 46,600 186%
Západné Slovensko 18,100 72%
Stredné Slovensko 14,800 59%
Poorest Východné Slovensko 12,800 51%
 Slovenia 21,100 84%
Richest Zahodna Slovenija 25,100 100%
Poorest Vzhodna Slovenija 17,700 71%
 Spain 24,200 96%
Richest Basque Country 32,500 130%
Madrid 31,500 126%
Navarre 31,100 124%
Catalonia 28,400 113%
La Rioja 27,200 109%
Aragón 27,000 108%
Islas Baleares 25,300 101%
Castilla y León 23,800 95%
Cantabria 23,500 94%
Asturias 22,700 91%
Galicia 21,800 87%
Comunidad Valenciana 21,200 85%
Ceuta 20,900 83%
Islas Canarias 20,600 82%
Murcia 19,700 79%
Castilla-La Mancha 19,300 77%
Melilla 19,000 76%
Andalucía 18,300 73%
Poorest Extremadura 16,700 67%
 Sweden 31,400 125%
Richest Stockholm 43,300 173%
Övre Norrland 31,500 125%
Västsverige 29,600 118%
Mellersta Norrland 29,000 116%
Småland med öarna 27,600 110%
Östra Mellansverige 27,000 108%
Sydsverige 26,800 107%
Poorest Norra Mellansverige 26,500 106%
 United Kingdom 26,400 105%
Richest Inner London 80,400 321%
North Eastern Scotland 39,900 159%
Berkshire, Buckinghamshire & Oxfordshire 35,900 143%
Cheshire 29,600 118%
Gloucestershire, Wiltshire & Bristol 27,500 110%
Bedfordshire & Hertfordshire 26,800 107%
Surrey, East & West Sussex 26,800 107%
Hampshire & Isle of Wight 25,600 102%
Eastern Scotland 24,500 98%
East Anglia 23,600 94%
West Yorkshire 23,300 93%
Leicestershire, Rutland & Northamptonshire 23,200 93%
East Wales 22,900 91%
Greater Manchester 22,600 90%
Outer London 22,500 90%
Herefordshire, Worcestershire & Warwickshire 22,400 89%
North Yorkshire 22,400 89%
South Western Scotland 22,300 89%
West Midlands 21,800 87%
Essex 21,500 86%
Derbyshire & Nottinghamshire 21,200 85%
Kent 21,200 85%
Dorset & Somerset 21,100 84%
Cumbria 20,900 83%
Northumberland and Tyne & Wear 20,800 83%
Devon 20,200 80%
East Yorkshire & Northern Lincolnshire 20,100 80%
Merseyside 20,200 80%
Highlands & Islands 20,100 80%
Northern Ireland 19,700 78%
Lancashire 19,600 78%
Shropshire & Staffordshire 19,300 77%
South Yorkshire 18,700 75%
Lincolnshire 18,500 74%
Tees Valley & Durham 17,900 71%
Cornwall & Isles of Scilly 16,200 64%
Poorest West Wales & The Valleys 16,100 64%

Richest and poorest NUTS-1 regions (GDP PPP 2011)

Member State Region GDP per capita
in Euros As % of EU-28 average
 European Union 25,100 100.0%
 Austria 32,300 129%
Richest Westösterreich 33,800 135%
Ostösterreich 33,200 132%
Poorest Südösterreich 27,900 111%
 Belgium 30,200 120%
Richest Bruxelles-Cap., Brussels Hfdst. 55,600 222%
Vlaams Gewest 30,100 120%
Poorest Région Wallonne 22,000 88%
 Bulgaria 11,700 47%
Richest Yugozapadna i Yuzhna Tsentralna Bulgaria 14,900 59%
Poorest Severna i Iztochna Bulgaria 8,600 34%
 Cyprus 23,600 94%
 Czech Republic 20,300 81%
 Denmark 31,500 126%
 Estonia 17,400 69%
 Finland 29,000 116%
Richest Åland 34,600 138%
Poorest Manner-Suomi 29,000 116%
 France 27,400 109%
Richest Île de France 45,600 182%
Centre-est 26,300 105%
Méditerranée 24,200 96%
Sud-ouest 23,500 94%
Ouest 23,000 92%
Est 22,600 90%
Bassin parisien 22,400 90%
Nord-Pas-de-Calais 22,100 88%
Poorest Départements d'Outre-Mer 17,600 70%
 Germany 30,800 123%
Richest Hamburg 50,700 202%
Bremen 39,700 158%
Hessen 36,200 144%
Bayern 35,300 141%
Baden-Württemberg 34,600 138%
Nordrhein-Westfalen 31,200 124%
Saarland 30,200 120%
Berlin 28,300 113%
Rheinland-Pfalz 27,900 111%
Niedersachsen 27,600 110%
Schleswig-Holstein 25,900 103%
Sachsen 22,400 89%
Brandenburg 22,000 88%
Sachsen-Anhalt 21,500 86%
Thüringen 21,100 85%
Poorest Mecklenburg-Vorpommern 21,100 84%
 Greece 20,000 80%
Richest Attica 26,900 107%
Aegean Islands, Crete 18,500 74%
Central Greece 16,200 64%
Poorest Northern Greece 15,400 62%
 Hungary 16,900 67%
Richest Közép Magyarország 27,600 110%
Dunántúl 14,500 58%
Poorest Alföld és Észak 10,600 42%
 Ireland 32,300 129%
 Italy 25,500 102%
Richest Nord Ovest 31,000 124%
Nord Est 30,600 122%
Centro 27,800 111%
Isole 17,000 68%
Poorest Sud 16,800 67%
 Latvia 15,000 60%
 Lithuania 16,900 68%
 Luxembourg 66,700 266%
 Malta 21,500 86%
 Netherlands 32,500 129%
Richest West-Nederland 34,500 138%
Noord-Nederland 32,400 129%
Zuid-Nederland 31,700 127%
Poorest Oost-Nederland 27,200 109%
 Poland 16,400 65%
Richest Region Centralny 23,000 92%
Region Południowo-Zachodni 17,100 68%
Region Południowy 16,200 64%
Region Północno-Zachodni 15,600 62%
Region Północny 13,900 55%
Poorest Region Wschodni 11,400 46%
 Portugal 19,300 77%
Richest Madeira 24,900 99%
Continente 19,200 77%
Poorest Açores 18,200 72%
 Romania 12,000 49%
Richest Macroregiunea Trei 18,500 74%
Macroregiunea Patru 11,200 45%
Macroregiunea Unu 10,900 44%
Poorest Macroregiunea Doi 8,400 33%
 Slovakia 18,900 75%
 Slovenia 21,200 84%
 Spain 24,200 96%
Richest Madrid 31,500 126%
Noreste 30,300 121%
Este 25,400 101%
Noroeste 22,300 89%
Centro 20,800 83%
Canarias 20,600 82%
Poorest Sur 18,500 74%
 Sweden 31,400 125%
Richest Östra Sverige 36,300 145%
Norra Sverige 28,500 114%
Poorest Södra Sverige 28,200 113%
 United Kingdom 26,400 105%
Richest London 45,400 184%
South East (England) 27,800 111%
Scotland 24,500 98%
East of England 23,900 95%
South West (England) 23,200 93%
North West (England) 22,200 89%
East Midlands (England) 21,600 86%
Yorkshire & the Humber 21,500 86%
West Midlands (England) 21,200 85%
Northern Ireland 19,700 78%
North East (England) 19,500 78%
Poorest Wales 18,600 74%

Source: Eurostat[28]

See also

References

  1. ↑ "World Economic Outlook". International Monetary Fund. International Monetary Fund. Retrieved August 27, 2014.
  2. ↑ "EU budget at a glance". Europa, EU information website. Retrieved 6 November 2007.
  3. ↑ "Population on 1 January". Epp.eurostat.ec.europa.eu. 2013-12-11. Retrieved 2015-03-03.
  4. ↑ "Report for Selected Countries and Subjects". Imf.org. 2006-09-14. Retrieved 2014-05-20.
  5. ↑ 5.0 5.1 "Eurostat – Tables, Graphs and Maps Interface (TGM) table". Epp.eurostat.ec.europa.eu. Retrieved 26 April 2011.
  6. ↑ "Eurostat – Tables, Graphs and Maps Interface (TGM) table". Epp.eurostat.ec.europa.eu. 11 March 2011. Retrieved 26 April 2011.
  7. ↑ "GDP per capita in PPS". 2 February 2015. Retrieved 2 February 2015.
  8. ↑ 8.0 8.1 "Report for Selected Countries and Subjects". International Monetary Fund. April 2015. Retrieved 17 April 2015.
  9. ↑ "General government gross debt - annual data". Eurostat. Retrieved 23 June 2014.
  10. ↑ "Government deficit, excluding support for financial institutions" (PDF). Eurostat. Retrieved 27 April 2014.
  11. ↑ "Annual Inflation".
  12. ↑ "Unemployment in the EU".
  13. ↑ "Report for Selected Countries and Subjects". Imf.org. 2006-09-14. Retrieved 2014-05-20.
  14. ↑ "2020_REPORT" (PDF). Retrieved 26 April 2011.
  15. ↑ "Eurostat – Tables, Graphs and Maps Interface (TGM) table". Epp.eurostat.ec.europa.eu. 11 March 2011. Retrieved 26 April 2011.
  16. ↑ "Eurostat – Tables, Graphs and Maps Interface (TGM) table". Epp.eurostat.ec.europa.eu. 2 April 2014. Retrieved 5 April 2014.
  17. ↑ "Central Intelligence Agency". Cia.gov. Retrieved 26 April 2011.
  18. ↑ "World trade report 2009" (PDF). WTO information website.
  19. ↑ 19.0 19.1 Se-jeong, Kim (19 July 2009). "EU-Korea FTA Will Be a Long Process: Greek Ambassador". The Korea Times. Retrieved 15 August 2009.
  20. ↑ 20.0 20.1 http://trade.ec.europa.eu/doclib/docs/2006/september/tradoc_122530.pdf
  21. ↑ "Extra-EU27 trade, by main partners, total product". Epp.eurostat.ec.europa.eu. 2013-10-17. Retrieved 2014-05-20.
  22. ↑ http://epp.eurostat.ec.europa.eu/cache/ITY_PUBLIC/3-08012014-BP/EN/3-08012014-BP-EN.PDF
  23. ↑ http://appsso.eurostat.ec.europa.eu/nui/show.do?dataset=une_rt_m&lang=en
  24. ↑ "EU expenditure and revenue". Financial Programming and Budget. European Commission. Retrieved 15 September 2014.
  25. ↑ "EU budget myths". EC Europa. European Commission. Retrieved 15 September 2014.
  26. ↑ http://newsroom.mastercard.com/wp-content/uploads/2012/06/MasterCard_Global_Destination_Cities_Index_2012.pdf
  27. ↑ "Airbus beats Boeing in 2010". News.ninemsn.com.au. Retrieved 26 April 2011.
  28. ↑ 28.0 28.1 28.2 28.3 28.4 28.5 Eurostat (27 February 2014). "GDP per capita in the EU in 2011: seven capital regions among the ten most prosperous" (PDF). Europa web portal. Retrieved 28 February 2014.
  • ^ 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" (PDF). June 2005 inflation data. Retrieved 18 July 2005.
  • "Euro-indicators News release" (PDF). May 2005 unemployment data. Retrieved 18 July 2005.
  • "World Bank". GNI data (July 2005). Retrieved 4 August 2005.

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

External links

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