Economy of the European Union

Economy of the European Union
Currency 1 Euro (€) = 100 cents
Statistics
GDP ranking 1st (2013)
GDP (Nominal) US$18.495 trillion (2014)
€13.070 trillion (2013)
GDP (PPP) US$18.526 trillion (2014)
GDP growth rate 1,3% (2014)
GDP per capita US$34,300 (nominal) (2013)
US$36,699 (PPP) (2014)
GDP by sector (2006) 70.5% services
27.3% industry
  2.1% agriculture
Inflation 0.6% (2014)
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 9.3% (October 2015)
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 € 12,094 billion
(86.8% of GDP) (2014)
Deficit spending € -401.8 billion
(-2.9% of GDP) (2014)
Expenditure 48.1% of GDP (2014)
Revenue 45.2% of GDP (2014)
Sources:

The economy of the European Union generates a GDP (nominal) of about €14.3 trillion (US$18.5 trillion in 2014) and a GDP (PPP) of about €12.7 trillion (US$16.8 trillion in 2014) according to the 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 the 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

Beginning in the year 1999 with some EU member states, now 19 out of 28 EU states use the euro as official currency in a currency union. The remaining 9 states continued to use their own currency with the possibility to join the euro later. The euro is also the most widely used currency in the EU.

Since 1992 the Maastricht treaty sets out rigid economic and fiscal convergence criteria for the states joining the euro. Starting 1997, the Stability and Growth Pact has been started to ensure continuing economic and fiscal stability and convergence.

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

Starting with Greece in 2009, five of the 19 eurozone states have been struggling with a sovereign debt crisis, by many called the European debt crisis. All these states started reforms and got bailout packages (Greece, Ireland, Portugal, Spain, Cyprus). As of May 2015, all countries but Greece have recovered from their debt crisis. Other non-eurozone states also experienced a debt crisis and also went through successful bailout programmes, i.e. Hungary, Romania and Latvia (the latter before it joined the eurozone).[2]

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,[3] 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 euros.

Member states GDP 2014
millions of
euro		 Population
in millions[4]
 GDP (Nominal)
per capita 2014
euro		 GDP (PPP)
per capita 2014
euro		 GDP (PPP)
per capita 2014
EU28 = 100
Eurozone
yes/no
 European Union 13,958,352 508.2 27,400 27,400 100%
 Germany 3,026,600(2015) 81.2 37,100(2015) 34,500 124% yes
 United Kingdom 2,253,311 64.8 34,900 29,900 109% no
 France 2,132,449 66.4 32,200 29,300 107% yes
 Italy 1,613,859 60.8 26,500 26,400 96% yes
 Spain 1,041,160 46.4 22,400 25,000 91% yes
 Netherlands 677,779(2015) 16.9 40,000(2015) 35,900 131% yes
 Sweden 430,642 9.7 44,400 33,700 123% no
 Poland 410,845 38.0 10,700 18,600 68% no
 Belgium 400,643 11.3 35,900 32,500 119% yes
 Austria 329,296 8.6 38,500 35,500 130% yes
 Denmark 260,582 5.7 46,200 34,200 125% no
 Finland 205,178 5.5 37,600 30,300 110% yes
 Ireland 189,046 4.6 41,000 36,800 134% yes
 Greece 177,559 10.8 16,200 19,900 73% yes
 Portugal 173,446 10.4 16,700 21,400 78% yes
 Czech Republic 154,739 10.5 14,700 23,200 85% no
 Romania 150,230 19.9 7,500 15,200 55% no
 Hungary 104,239 9.9 10,600 18,600 68% no
 Slovakia 75,561 5.4 13,900 21,100 77% yes
 Luxembourg 48,898 0.6 87,600 73,000 266% yes
 Croatia 43,085 4.2 10,200 16,100 59% no
 Bulgaria 42,751 7.2 5,900 12,800 47% no
 Slovenia 37,303 2.1 18,100 22,600 83% yes
 Lithuania 36,444 2.9 12,400 20,600 75% yes
 Latvia 23,581 2.0 11,800 17,500 64% yes
 Estonia 19,963 1.3 15,200 20,900 76% yes
 Cyprus 17,394 0.9 20,400 22,400 82% yes
 Malta 8,106 0.4 19,000 23,600 84% yes
EU candidates GDP 2014
millions of
euro		 Population
in millions
 GDP (Nominal)
per capita 2014
euro		 GDP (PPP)
per capita 2014
euro		 GDP (PPP)
per capita 2014
perc. of EU28
Eurozone
yes/no
 Turkey[5] 601,298 77.7 7,819 14,400 53% no
 Serbia 33,817 7.1 4,700 10,200 37% no
 Iceland 12,854 0.3 39,200 32,700 119% no
 Albania[6] 9,956 2.9 3,440 8,300 30% no
 Macedonia[7] 8,529 2.1 4,127 10,000 37% no
 Montenegro[8] 3,379 0.6 5,436 10,600 41% no
EFTA members GDP 2014
millions of
euro		 Population
in millions
 GDP (Nominal)
per capita 2014
euro		 GDP (PPP)
per capita 2014
euro		 GDP (PPP)
per capita 2014
perc. of EU28
Eurozone
yes/no
  Switzerland 528,780 8.2 64,600 44,300 162% no
 Norway 377,538 5.2 73,500 48,900 178% no

p: provisional value
e: estimated value
Source: GDP Millions:EUROSTAT,[9] GDP(nominal) per inhabitant: EUROSTAT,[9] GDP per capita in PPS :EUROSTAT,[10] GDP per capita expressed in PPS in percentage of EU (2014): EUROSTAT[11][12]

Economies of member states

GDP per capita in 2014

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. 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 2015(International Monetary Fund).[13]

Member state
sorted by GDP		 GDP
in billions
of USD
(2014)[13]		 GDP
% of EU
(2014)		 Annual
change
% of GDP
(2014)		 GDP
per capita
in PPP US$
(2014) 		Public debt[14]
% of GDP
(2014)		 Deficit (-)/
Surplus (+)[15]
% of GDP
(2014) 		Inflation
% Annual[16]
(2015)		 Unemp.[17]
%
2015 M12
 European Union[18] 18,527.1 100.0 1.3 36,869 86.8 −3.0 0.0 9.0
 Germany 3,874.4 20.9% 1.6 46,216 74.9 0.3 0.1 4.5
 United Kingdom 2,950.0 15.9% 2.9 39,826 88.2 −5.7 1.5(2014) 5.1(M10)
 France 2,833.7 15.3% 0.2 40,538 95.6 −3.9 0.1 10.2
 Italy 2,147.7 11.6% −0.4 35,131 132.3 −3.0 0.1 11.4
 Spain 1,406.5 7.6% 1.4 33,835 99.3 −5.9 -0.6 20.8
 Netherlands 880.7 4.8% 1.0 47,960 68.2 −2.4 0.2 6.6
 Sweden 570.6 3.1% 2.3 46,219 44.9 −1.7 0.7 7.2
 Poland 547.9 3.0% 3.3 25,247 50.4 −3.3 -0.7 7.1
 Belgium 534.2 2.9% 1.3 43,139 106.7 −3.1 0.6 7.9
 Austria 437.6 2.4% 0.4 46,640 84.2 −2.7 0.8 5.8
 Denmark 342.4 1.8% 1.3 44,625 45.1 1.5 0.2 6.0
 Finland 272.6 1.5% −0.4 40,661 59.3 −3.3 -0.2 9.5
 Ireland 250.8 1.4% 5.2 51,284 107.5 −3.9 0.0 8.8
 Greece 238.0 1.3% 0.7 25,954 178.6 −3.6 −1.1 24.5(M10)
 Portugal 230.0 1.2% 0.9 27,069 130.2 −7.2 0.5 11.8
 Czech Republic 205.3 1.1% 2.0 30,047 42.7 −1.9 0.3 4.5
 Romania 199.1 1.1% 2.9 19,744 39.9 −1.4 -0.4 6.7
 Hungary 137.0 0.7% 3.7 25,019 76.2 −2.5 0.1 6.3(M11)
 Slovakia 99.0 0.5% 2.5 28,279 53.5 −2.8 −0.3 10.6
 Luxembourg 65.7 0.4% 4.1 97,639 23.0 1.4 0.1 6.1
 Croatia 57.1 0.3% −0.4 20,947 85.1 −5.6 -0.3 16.5
 Bulgaria 55.8 0.3% 1.5 17,926 27.0 −5.8 −1.1 8.8
 Slovenia 49.6 0.3% 3.0 29,867 80.8 −5.0 -0.8 8.8
 Lithuania 48.4 0.3% 3.0 27,259 40.7 −0.7 -0.7 8.5
 Latvia 32.0 0.2% 2.4 23,793 40.6 −1.5 0.2 10.2
 Estonia 26.5 0.1% 2.9 27,880 10.4 0.7 0.1 6.5 (M11)
 Cyprus 23.3 0.1% −2.5 30,882 108.2 −8.9 −1.6 15.7
 Malta 10.5 0.06% 4.1 33,198 68.3 −2.1 1.2 5.1

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.[19]

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 high 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-2000s recession).

Reasons for this 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 of 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 because of the emergence of economic powers such as China, India and Brazil.

EU member states GDP growth rates[20]
Member state 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Growth (base year 2004)[21]
 Austria 2.1 3.4 3.6 1.5 −3.8 1.9 2.8 0.8 0.3 0.4 13.6
 Belgium 2.1 2.5 3.4 0.7 −2.3 2.7 1.8 0.2 0.0 1.3 13.0
 Bulgaria 7.2 6.8 7.7 5.6 −4.2 0.1 1.6 0.2 1.3 1.5 30.8
 Croatia 4.2 4.8 5.2 2.1 −7.4 −1.7 −0.3 −2.2 −0.9 −0.4 2.7
 Cyprus 3.9 4.5 4.9 3.7 −2.0 1.4 0.4 −2.4 −5.9 −2.5 5.5
 Czech Republic 6.4 6.9 5.5 2.7 −4.8 2.3 2.0 −0.9 −0.5 2.0 23.1
 Denmark 2.4 3.8 0.8 −0.7 −5.1 1.6 1.2 −0.1 −0.2 1.3 3.9
 Estonia 9.4 10.3 7.7 −5.4 −14.7 2.5 7.6 5.2 1.6 2.9 27.2
 Finland 2.8 4.1 5.2 0.7 −8.3 3.0 2.6 −1.4 −1.1 −0.4 6.7
 France 1.6 2.4 2.4 0.2 −2.9 2.0 2.1 0.2 0.7 0.2 9.1
 Germany 0.7 3.7 3.3 1.1 −5.6 4.1 3.7 0.4 0.3 1.61.7 13.7
 Greece 0.6 5.7 3.3 −0.3 −4.3 −5.5 −9.1 −7.3 −3.2 0.7 −18.6
 Hungary 4.4 3.8 0.4 0.8 −6.6 0.7 1.8 −1.7 1.9 3.7 9.0
 Ireland 6.3 6.3 5.5 −2.2 −5.6 0.4 2.6 0.2 1.4 5.2 21.2
 Italy 0.9 2.0 1.5 −1.0 −5.5 1.7 0.6 −2.8 −1.7 −0.4 −4.9
 Latvia 10.7 11.9 10.0 −3.6 −14.3 −3.8 6.2 4.0 3.0 2.4 26.2
 Lithuania 7.8 7.4 11.1 2.6 −14.8 1.6 6.0 3.8 3.5 3.0 34.0
 Luxembourg 3.2 5.1 8.4 -0.8 −5.4 5.7 2.6 −0.8 4.3 4.1 28.9
 Malta 3.8 1.8 4.0 3.3 −2.5 3.5 2.0 2.9 4.0 4.1 30.2
 Netherlands 2.2 3.5 3.7 1.7 −3.8 1.4 1.7 −1.1 −0.5 1.01.9 10.0
 Poland 3.5 6.2 7.2 3.9 2.6 3.7 5.0 1.6 1.3 3.3 45.4
 Portugal 0.8 1.6 2.5 0.2 −3.0 1.9 −1.8 −4.0 −1.1 0.9 −2.2
 Romania 4.3 6.8 7.1 6.8 −5.6 −1.0 1.1 2.4 3.0 2.9 30.5
 Slovakia 6.4 8.5 10.8 5.7 −5.5 5.1 2.8 1.5 1.4 2.5 45.6
 Slovenia 4.0 5.7 6.9 3.3 −7.8 1.2 0.6 −2.7 −1.1 3.0 12.9
 Spain 3.7 4.2 3.8 1.1 −3.6 0.0 −1.0 −2.6 −1.7 1.4 5.0
 Sweden 2.8 4.7 3.4 −0.6 −5.2 6.0 2.7 −0.3 1.2 2.3 17.8
 United Kingdom 3.0 2.7 2.6 −0.5 −4.2 1.5 2.0 1.2 2.2 2.92.2 14.0
 European Union 2.0 3.4 3.1 0.5 −4.4 2.1 1.7 −0.5 0.2 1.4 9.7
Eurozone 1.6 3.2 2.9 0.4 −4.5 2.1 1.6 −0.8 −0.3 0.9 7.0

Energy resources

Main article: Energy policy of the European Union

The European Union has uranium, coal, oil, and natural gas reserves. There are six oil producers in the European Union, primarily in North Sea oilfields. The United Kingdom is by far the largest producer; 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

Further information: List of the largest trading partners of the European Union
  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[22] and as of 2008 the largest importer of goods and services.[23] 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.[24]

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.[24]

Main trading partners(2014)[25]
RankPartnersImports (million euro)% (of total)Exports (million euro)% (of total)Total trade (million euro)% (of total)
-Total EU1,680,233100%1,702,736100%3,382,959100%
1 United States204,80212,2%310,76618,3%515,56815,2%
2 China302,57918,0%164,7309,7%467,30913,8%
3 Russia181,84410,8%103,2966,1%285,1408,4%
4  Switzerland96,5535,7%140,3498,1%236,9027,0%
5 Norway83,9355,0%50,1812,9%134,1164,0%
6 Turkey54,2633,2%74,6384,4%128,9013,8%
7 Japan54,5513,2%53,3013,1%107,8523,2%
8 South Korea38,9922,3%43,1332,5%82,1252,4%
9 India37,0662,2%35,4542,1%72,5202,1%
10 Brazil31,1571,9%36,9272,2%68,0832,0%
11 Saudi Arabia28,7681,7%35,1212,1%63,8891,9%
12 Canada27,3611,6%31,6701,9%59,0311,7%
13 Algeria31,8321,9%22,3871,3%54,2191,6%
14 United Arab Emirates8,1250,5%42,7692,5%50,8941,5%
15 Mexico18,2221,1%28,4761,7%46,6981,4%
16 Hong Kong10,6290,6%34,6862,0%45,3151,3%
17  Singapore16,5761,0%28,2461,7%44,8221,3%
18 South Africa18,4391,1%23,3401,4%41,7801,2%
19 Taiwan23,1841,4%16,9601,0%40,1441,2%
20 Nigeria28,1661,7%11,5520,7%39,7171,2%
21 Australia9,1010,5%29,5761,7%38,6761,1%
22 Malaysia19,7101,2%13,9780,8%33,6881,0%
23 Thailand18,5331,1%12,4440,7%30,9780,9%
24 Ukraine13,7610,8%17,1431,0%30,9030,9%
25 Kazakhstan23,9001,4%6,7540,4%30,6540,9%
26 Israel13,0710,8%16,9821,0%30,0530,9%
27 Morocco11,0120,7%18,2241,1%29,2360,9%
28 Vietnam22,0711,3%6,1810,4%28,2520,8%
29 Egypt8,5670,5%16,9501,0%25,5180,8%
30 Indonesia14,3950,9%9,4900,6%23,8850,7%
31 Tunisia9,3540,6%10,9870,6%20,3410,6%
32 Libya12,4780,7%5,3160,3%17,7940,5%
33 Serbia7,1100,4%10,3730,6%17,4830,5%
34 Azerbaijan13,1590,8%3,4820,2%16,6410,5%
35 Iraq11,6290,7%4,6790,3%16,3070,5%
36 Angola9,3810,6%6,7380,4%16,1190,5%
37 Chile8,7300,5%7,3880,4%16,1170,5%
38 Argentina7,7100,5%8,2660,5%15,9760,5%
39 Qatar7,4880,4%8,4000,5%15,8870,5%
40 Colombia8,1210,5%6,3510,4%14,4710,4%
41 Bangladesh12,3100,7%2,0170,1%14,3270,4%
42 Philippines5,6730,3%6,8000,4%12,4730,4%
43 Belarus3,4290,2%7,4640,4%10,8930,3%
44 Kuwait5,4590,3%5,0840,3%10,5430,3%
45 Pakistan5,5020,3%4,0850,2%9,5870,3%
46 Bosnia-Herzegovina3,3310,2%5,0260,3%8,3570,2%
47 Peru4,9360,3%3,2360,2%8,1720,2%
48 Gibraltar1,1680,1%6,9740,4%8,1420,2%
49 New Zealand3,3810,2%4,4940,3%7,8750,2%
50 Iran1,1620,1%6,4180,4%7,5800,2%
Trade with partner country groupings(2012)[25]
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 2015.
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%).[27]

The following table shows the history of the unemployment rate for all European Union member states:

Unemployment[28] 2005-03 2006-03 2007-03 2008-03 2009-03 2010-03 2011-03 2012-03 2013-03 2014-03 2015-03
 Austria 5.0 5.2 4.4 3.7 4.6 4.6 4.2 4.2 4.9 4.9 5.6
 Belgium 8.4 8.7 7.8 6.9 7.9 8.3 7.0 7.3 8.3 8.5 8.7
 Denmark 5.2 4.2 3.7 3.2 5.3 7.6 7.4 7.7 7.1 6.6 6.3
 Finland 8.5 7.9 7.0 6.2 7.6 8.6 7.9 7.5 8.1 8.4 9.3
 France 8.7 9.1 8.4 7.1 8.9 9.3 9.1 9.6 10.3 10.4 10.3
 Germany 11.4 10.5 9.0 7.8 7.7 7.4 6.2 5.5 5.4 5.2 4.8
 Greece 10.1 9.3 8.9 8.2 9.2 11.7 16.1 22.6 27.2 26.8 25.6
 Ireland 4.3 4.5 4.7 5.2 11.2 13.3 14.3 15.0 13.7 12.0 9.8
 Italy 7.8 7.1 5.9 6.4 7.6 8.4 7.9 10.4 12.0 12.6 12.6
 Luxembourg 4.6 4.7 4.3 4.4 5.4 4.6 4.7 5.0 5.7 6.1 5.8
 Netherlands 5.5 4.6 3.8 3.0 3.2 4.5 4.2 5.0 6.4 7.2 7.0
 Portugal 8.3 8.3 9.1 8.2 10.0 11.7 12.3 14.9 17.3 14.8 13.2
 Spain 9.7 8.6 8.0 9.3 17.2 19.4 20.6 23.9 26.3 25.2 22.9
 Sweden 7.3 7.4 6.5 5.8 7.8 8.8 7.9 7.5 8.3 8.0 7.6
 United Kingdom 4.6 5.3 5.5 5.2 7.3 7.9 7.7 8.1 7.7 6.6 5.4
 Bulgaria 10.6 9.1 7.3 5.9 6.0 9.8 11.1 12.0 12.9 13.0 9.9
 Croatia 13.2 12.3 10.5 9.1 8.9 10.8 13.7 15.4 16.4 17.4 16.7
 Cyprus 5.4 5.0 3.9 3.9 4.6 6.8 7.0 10.7 14.7 16.9 16.3
 Czech Republic 8.0 7.7 5.7 4.3 5.9 7.8 6.9 7.0 7.3 6.6 5.9
 Estonia 8.6 6.3 5.1 4.3 11.4 18.5 13.1 10.6 8.8 7.7 6.2
 Hungary 6.9 7.3 7.3 7.5 9.5 11.4 11.0 11.2 10.6 7.8 7.3
 Latvia 11.1 8.1 6.5 6.2 13.7 20.8 17.2 15.7 12.7 11.5 9.9
 Lithuania 9.7 6.2 4.1 4.1 11.6 17.7 16.5 13.8 12.4 11.9 9.0
 Malta 7.2 7.1 6.9 5.9 6.5 7.0 6.4 6.4 6.2 6.9 5.8
 Poland 18.4 15.3 10.3 7.2 7.6 9.9 9.5 9.9 10.6 9.8 7.9
 Romania 7.8 7.1 6.6 5.8 6.5 7.6 7.1 7.2 7.2 7.2 6.8
 Slovakia 17.0 14.3 11.2 10.1 10.7 14.9 13.6 13.8 14.2 14.0 12.0
 Slovenia 6.4 6.2 5.1 4.6 5.3 7.0 8.0 7.9 10.7 9.6 9.3
 European Union 9.2 8.5 7.4 6.7 8.6 9.7 9.4 10.2 10.9 10.5 9.7

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.[29] 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 second 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 third 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.[30]

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, that 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 (16.9 million visitors in 2012) and the highest in tourism receipts, shortly followed by Paris with 16 million visitors.[31]

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;[32] 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

See also: List of countries by GDP (PPP) per capita, List of metropolitan areas in the European Union by GDP and First-level NUTS of the European Union

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.[33] The leading regions in the ranking of NUTS-2 regional GDP per inhabitant in 2013 were Inner London in the United Kingdom (325% of the average), the Grand Duchy of Luxembourg (258%) and Bruxelles/Brussels in Belgium (207%). 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."[34]).

Another example of artificial inflation is Groningen. The calculated GDP per capita is very high because of the large natural gas reserves in this region, but Groningen is one of the poorest parts in the Netherlands. Among the 46 NUTS-2 regions exceeding the 125% level, fourteen were in Germany, five in the Netherlands and in Austria, four each in Belgium and Italy, three in the United Kingdom, two in Finland and one in Czech Republic, Denmark, Ireland, France, Romania, Slovakia, Spain 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 86,400 325%
2. Luxembourg  Luxembourg 68,500 258%
3. Bruxelles-Cap., Brussels Hfdst.  Belgium 55,100 207%
4. Hamburg  Germany 51,900 195%
5. Groningen  Netherlands 49,800 187%
6. Bratislavský kraj  Slovakia 49,000 184%
7. Stockholm  Sweden 47,700 179%
8. Île de France  France 46,600 175%
9. Praha  Czech Republic 46,000 173%
10. Oberbayern  Germany 45,400 172%
Rank NUTS-1 Region Member state GDP per capita
in euros As % of EU-28 average
1. Luxembourg  Luxembourg 68,500 258%
2. Bruxelles-Cap., Brussels Hfdst.  Belgium 55,100 207%
3. Hamburg  Germany 51,900 195%
5. London  United Kingdom 48,800 184%
4. Île-de-France  France 46,600 176%
6. Bremen  Germany 42,200 159%
7. Östra Sverige  Sweden 39,800 150%
8. West-Nederland  Netherlands 38,000 143%
9. Bayern  Germany 37,800 142%
10. Hessen  Germany 37,700 142%
11. Åland  Finland 37,200 140%
12. Baden-Württemberg  Germany 36,800 139%
13. Westösterreich  Austria 35,900 135%
14. Ireland  Ireland 34,500 130%
15. Ostösterreich  Austria 34,400 129%
16. Madrid  Spain 34,000 128%
17. Noord-Nederland  Netherlands 33,400 1256%
18. Zuid-Nederland  Netherlands 33,200 125%
19. Denmark  Denmark 33,100 124%
20. Northwest  Italy 33,000 124%

Source: Eurostat[34]

Economically weakest NUTS-2 regions

Among the ten lowest regions in the ranking in 2013 most were in Bulgaria and Romania, with the lowest figure recorded in Mayotte in France. Among the 75 regions below the 75% level, fourteen were in Poland, eleven in Greece, seven each in Italy and Romania, six each in Bulgaria, Czech Republic and Hungary, five in Portugal, four in France, three each in Slovakia, Spain and the United Kingdom, two in Croatia, one in Slovenia as well as the member states Estonia, Latvia and Lithuania.[34]

Rank NUTS-2 Region Member state GDP per capita
in euros As % of EU-28 average
1. Mayotte  France 7,200 27%
2. Severozapaden  Bulgaria 8,000 30%
3. Severen tsentralen  Bulgaria 8,300 31%
4. Yuzhen tsentralen  Bulgaria 8,400 32%
5. Nord-Est  Romania 9,000 34%
6. Severoiztochen  Bulgaria 9,400 35%
7. Yugoiztochen  Bulgaria 9,900 37%
8. Észak-Magyarország  Hungary 10,500 40%
9. Sud-Vest Oltenia  Romania 10,900 41%
10. Sud-Muntenia  Romania 11,000 41%
Rank NUTS-1 Region Member state GDP per capita
in euros As % of EU-28 average
1. Severna i Iztochna Bulgaria  Bulgaria 9,000 34%
2. Macroregiunea Doi  Romania 10,300 39%
3. Alföld és Észak  Hungary 13,300 42%
4. Region Wschodni  Poland 12,800 48%
5. Macroregiunea Unu  Romania 13,100 49%
6. Macroregiunea Patru  Romania 13,200 50%
7. Yugozapadna i Yuzhna Tsentralna Bulgaria  Bulgaria 14,800 56%
8. Voreia Ellada  Greece 15,000 56%
9. Dunántúl  Hungary 15,200 57%
10. Region Północny  Poland 15,300 58%
11. Kentriki Ellada  Greece 15,800 60%
12. Croatia  Croatia 16,100 61%
13. Isole  Italy 16,700 63%
14. Départements d'Outre-Mer  France 16,900 63%
15. Latvia  Latvia 17,000 64%
15. Sud  Italy 17,000 64%
17. Region Północno-Zachodni  Poland 17,400 66%
18. Aegean Islands, Crete  Greece 17,500 66%
18. Region Południowy  Poland 17,500 66%
20. Region Południowo-Zachodni  Poland 18,600 70%

Source: Eurostat[34]

Richest and poorest NUTS regions (GDP PPP 2013)

Richest and poorest NUTS-2 regions (GDP PPP 2013)

Member state Region GDP per capita
in euros As % of EU-28 average
 European Union 26,600 100.0%
 Austria 34,100 128%
Richest Vienna 42,300 159%
Salzburg 40,200 151%
Tirol 35,800 135%
Vorarlberg 35,600 134%
Upper Austria 34,500 130%
Styria 30,700 116%
Carinthia 28,400 107%
Lower Austria 26,600 106%
Poorest Burgenland 23,300 88%
 Belgium 31,600 119%
Richest Bruxelles-Cap., Brussels Hfdst. 55,100 207%
Antwerpen 37,300 140%
Brabant Wallon 34,300 129%
Vlaams Brabant 33,600 126%
West-Vlaanderen 30,300 114%
Oost-Vlaanderen 28,900 109%
Limburg 26,300 99%
Liége 23,500 88%
Namur 22,600 85%
Hainaut 20,700 78%
Poorest Luxembourg 20,500 77%
 Bulgaria 11,900 45%
Richest Yugozapaden 19,200 72%
Yugoiztochen 9,900 37%
Severoiztochen 9,400 35%
Yuzhen tsentralen 8,400 32%
Severen tsentralen 8,300 31%
Poorest Severozapaden 8,000 30%
 Croatia 16,100 61%
Richest Kontinentalna Hrvatska 16,400 62%
Poorest Jadranska Hrvatska 15,400 58%
 Cyprus 23,600 89%
 Czech Republic 21,900 82%
Richest Praha 46,000 173%
Jihovýchod 20,600 77%
Střední Čechy 19,500 73%
Jihozápad 19,400 73%
Moravskoslezsko 18,400 69%
Severovýchod 18,000 68%
Střední Morava 17,700 67%
Poorest Severozápad 16,500 62%
 Denmark 33,100 124%
Richest Hovedstaden 41,200 155%
Midtjylland 30,100 113%
Syddanmark 29,600 111%
Nordjylland 28,500 107%
Poorest Sjælland 23,100 87%
 Estonia 19,500 73%
 Finland 30,100 113%
Richest Helsinki-Uusimaa 39,300 148%
Åland 37,200 140%
Länsi-Suomi 27,400 103%
Etelä-Suomi 26,800 101%
Poorest Pohjois-Suomi 24,700 94%
 France 28,400 107%
Richest Île-de-France 46,600 175%
Rhône-Alpes 28,500 107%
Provence-Alpes-Côte d'Azur 27,200 102%
Alsace 26,300 99%
Pays de la Loire 25,400 96%
Midi-Pyrénées 25,300 95%
Champagne-Ardenne 25,100 94%
Aquitaine 25,000 94%
Upper Normandy 24,600 93%
Corsica 23,800 89%
Burgundy 23,700 89%
Centre 23,700 89%
Brittany 23,500 88%
Lower Normandy 23,300 87%
Auvergne 23,200 87%
Nord-Pas-de-Calais 23,100 87%
Poitou-Charentes 23,000 86%
Picardy 21,800 82%
Franche-Comté 21,700 82%
Languedoc-Roussillon 21,700 82%
Lorraine 21,400 80%
Limousin 21,300 80%
Martinique 20,000 75%
Guadeloupe 19,200 72%
Réunion 17,500 66%
French Guiana 14,200 54%
Poorest Mayotte 7,200 27%
 Germany 32,600 122%
Richest Hamburg 51,900 195%
Oberbayern (2012) 45,400 172%
Darmstadt (2012) 41,700 158%
Bremen 42,200 159%
Stuttgart (2012) 41,400 156%
Karlsruhe (2012) 36,100 136%
Düsseldorf (2012) 35,700 135%
Mittelfranken (2012) 35,500 134%
Tübingen (2012) 35,300 133%
Oberpfalz (2012) 34,000 128%
Köln (2012) 34,000 129%
Braunschweig (2012) 33,500 127%
Schwaben (2012) 33,300 125%
Unterfranken (2012) 33,100 125%
Detmold (2012) 32,100 121%
Niederbayern (2012) 32,000 121%
Hannover (2012) 31,900 121%
Freiburg (2012) 31,500 119%
Rheinhessen-Pfalz (2012) 31,100 118%
Saarland 30,800 116%
Oberfranken (2012) 30,700 116%
Berlin 30,000 113%
Kassel (2012) 29,800 113%
Arnsberg (2012) 29,600 112%
Weser-Ems (2012) 29,200 110%
Münster (2012) 29,000 110%
Koblenz (2012) 28,300 107%
Gießen (2012) 28,200 106%
Schleswig-Holstein 27,200 102%
Trier (2012) 26,900 102%
Leipzig (2012) 25,500 96%
Dresden (2012) 23,500 89%
Brandenburg 23,100 87%
Lüneburg (2012) 22,800 86%
Sachsen-Anhalt 22,800 86%
Thüringen 22,700 85%
Chemnitz (2012) 22,500 85%
Poorest Mecklenburg-Vorpommern 21,900 82%
 Greece 19,400 73%
Richest Αττικής – Attica 26,100 98%
Νοτίου Αιγαίου – South Aegean 20,300 76%
Ιονίων Νησιών – Ionian Islands 18,100 68%
Δυτικής Μακεδονίας – West Macedonia 16,400 62%
Στερεά Ελλάδα – Central Greece 16,500 62%
Κρήτη – Crete 16,700 63%
Δυτική Ελλάδα – West Greece 16,500 62%
Πελοποννήσου – Peloponnese 15,900 60%
Βορείου Αιγαίου – North Aegean 15,300 57%
Κεντρικής Μακεδονίας – Central Macedonia 15,100 57%
Θεσσαλίας – Thessaly 15,000 56%
Ηπείρου – Hepirus 14,600 55%
Poorest Ανατολικής Μακεδονίας και Θράκης – East Macedonia and Thrace 13,900 52%
 Hungary 17,600 66%
Richest Közép Magyarország 28,700 108%
Nyugat Dunántúl 17,900 67%
Közép Dunántúl 15,600 59%
Dél Alföld 11,900 45%
Dél Dunántúl 11,900 45%
Észak Alföld 11,300 42%
Poorest Észak Magyarország 10,500 40%
 Ireland 34,500 130%
Richest Southern and Eastern 38,800 146%
Poorest Border, Midland and Western 22,500 85%
 Italy 26,300 99%
Richest South Tyrol 39,600 149%
Lombardy 35,700 134%
Valle d’Aosta 35,100 132%
Trentino 33,700 127%
Emilia–Romagna 32,000 120%
Lazio 31,300 118%
Liguria 29,700 112%
Veneto 29,500 111%
Friuli-Venezia Giulia 28,400 107%
Tuscany 28,500 107%
Piedmont 28,100 106%
Marche 24,600 93%
Umbria 24,200 91%
Abruzzo 22,600 85%
Molise 18,700 70%
Sardinia 18,500 69%
Basilicata 18,400 69%
Campania 16,600 63%
Apulia 16,200 61%
Sicily 16,100 61%
Poorest Calabria 15,100 57%
 Latvia 17,000 64%
 Lithuania 19,400 73%
 Luxembourg 68,500 258%
 Malta 23,000 86%
 Netherlands 34,900 131%
Richest Groningen 49,800 187%
Noord-Holland 42,200 159%
Utrecht 41,300 155%
Noord-Brabant 35,300 133%
Zuid-Holland 34,700 130%
Gelderland 29,600 111%
Overijssel 28,600 108%
Limburg 28,400 107%
Zeeland 27,600 104%
Flevoland 26,300 99%
Friesland 25,500 96%
Poorest Drenthe 24,500 92%
 Poland 17,900 67%
Richest Mazowieckie 28,500 107%
Dolnośląskie 20,100 76%
Wielkopolskie 19,300 73%
Śląskie 18,600 70%
Pomorskie 17,300 65%
Łódzkie 16,700 63%
Małopolskie 15,800 59%
Zachodniopomorskie 15,100 57%
Lubuskie 15,000 56%
Kujawsko-Pomorskie 14,800 56%
Opolskie 14,500 54%
Świętokrzyskie 13,100 49%
Podlaskie 13,000 49%
Warmińsko-Mazurskie 12,900 48%
Podkarpackie 12,700 48%
Poorest Lubelskie 12,600 48%
 Portugal 20,800 78%
Richest Lisboa 28,800 108%
Algarve 20,900 79%
Madeira 19,800 74%
Alentejo 19,200 72%
Açores 18,900 71%
Centro 17,800 67%
Poorest Norte 16,900 64%
 Romania 14,500 54%
Richest Bucureşti – Ilfov 34,900 131%
Vest 15,700 59%
Centru 13,600 51%
Nord-Vest 12,500 47%
Sud-Est 12,000 45%
Sud – Muntenia 11,000 41%
Sud-Vest Oltenia 10,900 41%
Poorest Nord-Est 9,000 34%
 Slovakia 20,000 75%
Richest Bratislavský kraj 49,000 184%
Západné Slovensko 18,800 71%
Stredné Slovensko 15,900 60%
Poorest Východné Slovensko 13,800 52%
 Slovenia 21,800 82%
Richest Zahodna Slovenija 25,900 105%
Poorest Vzhodna Slovenija 18,100 73%
 Spain 25,000 94%
Richest Madrid 34,000 128%
Basque Country 32,500 122%
Navarre 30,900 116%
Catalonia 29,400 111%
Aragón 27,400 103%
La Rioja 27,100 102%
Islas Baleares 26,200 99%
Castilla y León 23,800 89%
Cantabria 22,900 86%
Asturias 22,300 84%
Galicia 22,100 83%
Comunidad Valenciana 21,900 82%
Islas Canarias 21,400 81%
Ceuta 20,500 77%
Murcia 20,400 77%
Castilla-La Mancha 20,300 76%
Andalucía 18,700 70%
Melilla 18,700 70%
Poorest Extremadura 17,200 65%
 Sweden 33,700 127%
Richest Stockholm 47,700 179%
Övre Norrland 32,200 121%
Västsverige 31,900 120%
Mellersta Norrland 29,700 112%
Östra Mellansverige 29,100 109%
Småland med öarna 28,700 108%
Sydsverige 28,400 107%
Poorest Norra Mellansverige 27,400 103%
 United Kingdom 28,900 109%
Richest Inner London 86,400 325%
North Eastern Scotland 44,000 166%
Berkshire, Buckinghamshire & Oxfordshire 40,400 152%
Cheshire 30,900 116%
Surrey, East & West Sussex 30,500 115%
Gloucestershire, Wiltshire & Bristol 30,200 114%
Bedfordshire & Hertfordshire 29,900 112%
Hampshire & Isle of Wight 29,400 111%
Eastern Scotland 26,900 101%
East Anglia 26,600 100%
Greater Manchester 25,200 95%
North Yorkshire 25,000 94%
East Wales 24,900 94%
Herefordshire, Worcestershire & Warwickshire 24,900 94%
West Yorkshire 24,900 94%
Leicestershire, Rutland & Northamptonshire 24,800 93%
West Midlands 24,300 91%
Outer London 24,200 91%
South Western Scotland 23,900 90%
Dorset & Somerset 23,700 89%
Cumbria 23,600 89%
Derbyshire & Nottinghamshire 23,500 88%
Essex 23,200 87%
Kent 23,100 87%
Northumberland and Tyne & Wear 22,600 85%
Highlands & Islands 22,000 83%
Devon 21,800 82%
Northern Ireland 21,800 82%
Merseyside 21,700 82%
East Yorkshire & Northern Lincolnshire 21,500 81%
Shropshire & Staffordshire 21,200 80%
Lancashire 21,100 79%
South Yorkshire 20,200 76%
Lincolnshire 20,100 76%
Tees Valley & Durham 19,300 73%
Cornwall & Isles of Scilly 18,700 70%
Poorest West Wales & The Valleys 17,900 67%

Richest and poorest NUTS-1 regions (GDP PPP 2013)

Member state Region GDP per capita
in euros As % of EU-28 average
 European Union 26,600 100.0%
 Austria 34,100 128%
Richest Westösterreich 35,900 135%
Ostösterreich 34,400 129%
Poorest Südösterreich 30,000 113%
 Belgium 31,600 119%
Richest Bruxelles-Cap., Brussels Hfdst. 55,100 207%
Vlaams Gewest 32,000 120%
Poorest Région Wallonne 23,300 88%
 Bulgaria 11,900 45%
Richest Yugozapadna i Yuzhna Tsentralna Bulgaria 14,800 56%
Poorest Severna i Iztochna Bulgaria 9,000 34%
 Croatia 16,100 61%
 Cyprus 23,600 94%
 Czech Republic 21,900 82%
 Denmark 33,100 124%
 Estonia 19,500 73%
 Finland 30,100 113%
Richest Åland 37,200 140%
Poorest Manner-Suomi 30,100 113%
 France 28,400 107%
Richest Île-de-France 46,600 175%
Centre-est 27,500 104%
Méditerranée 25,200 95%
Sud-ouest 24,700 93%
Ouest 24,200 91%
Bassin parisien 23,600 89%
Est 23,100 87%
Nord-Pas-de-Calais 23,100 87%
Poorest Départements d'Outre-Mer 16,900 63%
 Germany 32,600 122%
Richest Hamburg 51,900 195%
Bremen 42,200 159%
Bavaria 37,800 142%
Hesse 37,700 142%
Baden-Württemberg 36,800 139%
Nordrhein-Westfalen 32,300 121%
Saarland 30,800 116%
Berlin 30,000 113%
Niedersachsen 29,600 111%
Rheinland-Pfalz 29,600 111%
Schleswig-Holstein 27,200 102%
Sachsen 24,100 91%
Brandenburg 23,100 87%
Sachsen-Anhalt 22,800 86%
Thüringen 22,700 85%
Poorest Mecklenburg-Vorpommern 21,900 82%
 Greece 19,400 73%
Richest Attica 26,100 98%
Aegean Islands, Crete 17,500 66%
Central Greece 15,800 60%
Poorest Northern Greece 15,000 56%
 Hungary 17,600 66%
Richest Közép Magyarország 28,700 108%
Dunántúl 15,200 57%
Poorest Alföld és Észak 11,300 42%
 Ireland 34,500 130%
 Italy 26,600 99%
Richest Northwest 33,000 124%
Northeast 31,000 117%
Central 29,000 109%
South 17,000 64%
Poorest Insular 16,700 63%
 Latvia 17,000 64%
 Lithuania 19,400 73%
 Luxembourg 68,500 258%
 Malta 23,000 86%
 Netherlands 34,900 131%
Richest West-Nederland 38,000 143%
Noord-Nederland 33,400 126%
Zuid-Nederland 33,200 125%
Poorest Oost-Nederland 28,900 109%
 Poland 17,900 67%
Richest Region Centralny 24,700 93%
Region Południowo-Zachodni 18,600 70%
Region Południowy 17,500 66%
Region Północno-Zachodni 17,400 66%
Region Północny 15,300 58%
Poorest Region Wschodni 12,800 48%
 Portugal 20,800 78%
Richest Continental 20,800 78%
Madeira 19,800 74%
Poorest Açores 18,900 71%
 Romania 14,500 54%
Richest Macroregiunea Trei 21,100 79%
Macroregiunea Patru 13,200 50%
Macroregiunea Unu 13,100 49%
Poorest Macroregiunea Doi 10,300 39%
 Slovakia 20,000 75%
 Slovenia 21,800 82%
 Spain 25,000 94%
Richest Madrid 34,000 128%
Northeast 30,400 114%
East 26,400 99%
Northwest 22,200 84%
Canaries 21,400 81%
Centre 21,200 80%
Poorest South 19,000 71%
 Sweden 33,700 127%
Richest Östra Sverige 39,800 150%
Södra Sverige 30,000 113%
Poorest Norra Sverige 29,300 110%
 United Kingdom 28,900 109%
Richest London 48,800 184%
South East (England) 31,400 118%
Scotland 26,700 100%
East of England 26,600 100%
South West (England) 25,700 97%
North West (England) 24,200 91%
West Midlands (England) 23,600 89%
East Midlands (England) 23,500 88%
Yorkshire & the Humber 23,100 87%
Northern Ireland 21,800 82%
North East (England) 21,100 79%
Poorest Wales 20,500 77%

Source: Eurostat[34]

See also

References

  1. ↑ "World Economic Outlook". International Monetary Fund. International Monetary Fund. Retrieved August 27, 2014.
  2. ↑ "Romania becomes third eastern European EU country to be bailed out". The Guardian. 25 March 2009.
  3. ↑ "EU budget at a glance". Europa, EU information website. Retrieved 6 November 2007.
  4. ↑ "Population on 1 January". Epp.eurostat.ec.europa.eu. 2013-12-11. Retrieved 2015-03-03.
  5. ↑ http://ec.europa.eu/enlargement/pdf/key_documents/2015/20151110_report_turkey.pdf
  6. ↑ http://ec.europa.eu/enlargement/pdf/key_documents/2015/20151110_report_albania.pdf
  7. ↑ http://ec.europa.eu/enlargement/pdf/key_documents/2015/20151110_report_the_former_yugoslav_republic_of_macedonia.pdf
  8. ↑ http://ec.europa.eu/enlargement/pdf/key_documents/2015/20151110_report_montenegro.pdf
  9. 1 2 "Eurostat – Tables, Graphs and Maps Interface (TGM) table". Epp.eurostat.ec.europa.eu. Retrieved 10 November 2015.
  10. ↑ "Gross domestic product at market prices (Current prices, PPS per capita)". Eurostat. 4 November 2015. Retrieved 5 November 2015.
  11. ↑ "GDP per capita in PPS". 1 June 2015. Retrieved 16 June 2015.
  12. ↑ http://ec.europa.eu/eurostat/documents/2995521/7103376/2-11122015-BP-EN.pdf/55f18bec-a72f-4988-b2c2-3eb47eaacc96
  13. 1 2 "Report for Selected Countries and Subjects". International Monetary Fund. October 2015. Retrieved 29 January 2016.
  14. ↑ "General government gross debt - annual data". Eurostat. Retrieved 23 June 2014.
  15. ↑ "Government deficit, excluding support for financial institutions". Eurostat. Retrieved 24 May 2015.
  16. ↑ "Annual Inflation".
  17. ↑ "Unemployment in the EU".
  18. ↑ "Report for Selected Countries and Subjects". Imf.org. October 2015. Retrieved 2015-11-05.
  19. ↑ "2020_REPORT" (PDF). Retrieved 26 April 2011.
  20. ↑ "Eurostat – Tables, Graphs and Maps Interface (TGM) table". Epp.eurostat.ec.europa.eu. 11 March 2011. Retrieved 26 April 2011.
  21. ↑ "Eurostat – Tables, Graphs and Maps Interface (TGM) table". Epp.eurostat.ec.europa.eu. 29 June 2015. Retrieved 24 November 2015.
  22. ↑ "Central Intelligence Agency". Cia.gov. Retrieved 26 April 2011.
  23. ↑ "World trade report 2009" (PDF). WTO information website.
  24. 1 2 Se-jeong, Kim (19 July 2009). "EU-Korea FTA Will Be a Long Process: Greek Ambassador". The Korea Times. Retrieved 15 August 2009.
  25. 1 2 http://trade.ec.europa.eu/doclib/docs/2006/september/tradoc_122530.pdf
  26. ↑ "Extra-EU27 trade, by main partners, total product". Epp.eurostat.ec.europa.eu. 2013-10-17. Retrieved 2014-05-20.
  27. ↑ http://epp.eurostat.ec.europa.eu/cache/ITY_PUBLIC/3-08012014-BP/EN/3-08012014-BP-EN.PDF
  28. ↑ "Eurostat - Data Explorer". europa.eu.
  29. ↑ "EU expenditure and revenue". Financial Programming and Budget. European Commission. Retrieved 15 September 2014.
  30. ↑ "EU budget myths". EC Europa. European Commission. Retrieved 15 September 2014.
  31. ↑ http://newsroom.mastercard.com/wp-content/uploads/2012/06/MasterCard_Global_Destination_Cities_Index_2012.pdf
  32. ↑ "Airbus beats Boeing in 2010". News.ninemsn.com.au. Retrieved 26 April 2011.
  33. ↑ 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.
  34. 1 2 3 4 5 Eurostat (21 May 2015). "GDP per capita in the EU in 2013: sevencapital regions amongthe ten most prosperous" (PDF). Europa web portal. Retrieved 22 May 2015.
  • ^ 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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