The chart above shows the GDP and change in GDP over the last ten years in EU regions in euros. All four regions grew in the past ten years however, the Southern EU had a considerably small relative growth rate than the other three regions.
Findings
- The difference between the region with the greatest absolute growth in GDP, the Western EU, and the region with the least, the Southern EU, is $1,641,804,000,000.
- The Western EU has 19.79 times the absolute economic growth that the Southern EU does in the past ten years.
- No region overtook another over the ten year period.
Caveats
- All percentages are rounded to the nearest hundredth.
- The Western EU consists of Germany, United Kingdom, France, Netherlands, Belgium, Austria, Ireland, and Luxembourg.
- The Southern EU consists of Italy, Spain, Portugal, Greece, Cyprus, and Malta.
- The Eastern EU consists of Poland, Czech Republic, Romania, Hungary, Slovakia, Bulgaria, Croatia, Slovenia, Lithuania, Latvia, and Estonia.
- The Northern EU consists of Sweden, Denmark, and Finland.
Details
Although the Northern EU had the greatest relative growth rate at 25.60%, the Western EU's large economy gave it the largest absolute growth at €1,729,173,700,000. The Southern EU on the other hand had both the smallest relative and absolute growth over the ten year period.
While the Southern EU had the worst performance as a region, it also included the state with the highest relative growth in the period in Malta. However, it also included the only state to experience a contraction of its economy in Greece.
The European Union as a whole grew by €2,261,676 million over the ten year period.
Sources
Eurostat. 2018. "Eurostat - Tables, Graphs and Maps Interface." Accessed June 26, 2018. http://ec.europa.eu/eurostat/tgm/table.do?tab=table&init=1&language=en&pcode=tec00001&plugin=1.