The chart above shows the annualized nominal gross domestic product (GDP) in each EU state as of the first quarter of 2021 in millions of euros, the change from the previous quarter, and the GDP one year prior. Only six states contracted over the previous month.
- The difference between the state with the largest GDP, Germany, and the state with the smallest, Malta, is €3,396,318.40 million (up from €3,386,567.20 million last quarter and down from €3,423,901.60 million last year). Germany and Malta had the largest and smallest GDP respectively both last quarter and last year.
- Germany has 253.22 times the GDP that Malta does. The ratio of largest GDP to smallest GDP was down from 259.19 last quarter and up from 253.31 last year.
- The median GDP in the 28 EU states is €230,132.60 million (up from €223,833.60 million last quarter and up from €228,668.20 last year) and the mean €581,612.56 million (up from €575,216.16 the previous quarter and down from €582,109.91 last year).
- Of the 28 states, 22 saw a rise of GDP in current euros from the previous quarter while 6 saw a contraction.
- Of the 28 states, 14 saw a rise of GDP in current euros from last year while 14 saw a contraction.
- Data is from the first quarter of 2020, the fourth quarter of 2020, and the first quarter of 2021.
- The data is seasonally and calendar adjusted in current euros except for Slovakia which is only seasonally adjusted in current euros.
- The data is annualized by multiplying the quarterly figure by four.
- All figures are rounded to the nearest hundredth.
In absolute terms, Spain had the worst performance over the previous quarter with a drop of €6,976.00 million. The United Kingdom had the best performance with a gain of €73,036.80 million. Year over year, the United Kingdom had the worst performance with a drop of €89,235.20 million while France had the best performance with a gain of €66,344.00 million.
In relative terms, Slovakia had the worst performance over the previous quarter with a 3.00% drop in GDP while Ireland had the best performance with a 9.88% gain in GDP. Year over year, Greece had the worst performance with a 4.88% drop in GDP while Ireland had the best performance with a 8.85% gain in GDP.
Germany accounted for over one-fifth of the economic output of the 28 states at 20.94%. It, with the United Kingdom accounted for just over one-third of the economic output of the 28 states at 36.18%. Adding in France amounts to just over half the economic output of the 28 states at 50.90%.
Ireland (from 11th to 10th largest GDP) rose 1 spot over the previous quarter. Austria (from 10th to 11th) fell 1 spot. Year over year, Ireland (from 11th to 10th) rose 1 spot while Austria (from 10th to 11th) fell 1 spot.
|State||First Quarter 2020||Fourth Quarter 2020||First Quarter 2021|
Eurostat. 2021. "GDP and Main Components." Accessed July 21, 2021. https://appsso.eurostat.ec.europa.eu/nui/show.do?query=BOOKMARK_DS-406779_QID_-41E5E7A5_UID_-3F171EB0&layout=TIME,C,X,0;GEO,L,Y,0;UNIT,L,Z,0;S_ADJ,L,Z,1;NA_ITEM,L,Z,2;INDICATORS,C,Z,3;&zSelection=DS-406779UNIT,CP_MEUR;DS-406779INDICATORS,OBS_FLAG;DS-406779NA_ITEM,B1GQ;DS-406779S_ADJ,SCA;&rankName1=UNIT_1_2_-1_2&rankName2=INDICATORS_1_2_-1_2&rankName3=NA-ITEM_1_2_-1_2&rankName4=S-ADJ_1_2_-1_2&rankName5=TIME_1_0_0_0&rankName6=GEO_1_2_0_1&sortC=ASC_-1_FIRST&rStp=&cStp=&rDCh=&cDCh=&rDM=true&cDM=true&footnes=false&empty=false&wai=false&time_mode=NONE&time_most_recent=false&lang=EN&cfo=%23%23%23%2C%23%23%23.%23%23%23.
Federal Reserve. 2021. "Foreign Exchange Rates." Accessed July 21, 2021. https://www.federalreserve.gov/releases/g5/.
Office for National Statistics. 2021. "Gross Domestic Product at market prices: Current price: Seasonally adjusted £m - Office for National Statistics." Accessed July 21, 2021. https://www.ons.gov.uk/economy/grossdomesticproductgdp/timeseries/ybha/ukea.