The chart above shows the annualized nominal gross domestic product (GDP) in each EU state as of the first quarter of 2020 in millions of euros, the change from the previous quarter, and the GDP one year prior. Poland, Sweden, Ireland, Bulgaria, and Cyprus are the only states to see a rise from the previous quarter.
- The difference between the state with the largest GDP, Germany, and the state with the smallest, Malta, is €3,405,001.20 million (down from €3,457,990.00 million last quarter and up from €3,402,500.40 million last year). Germany and Malta had the largest and smallest GDP respectively both last quarter and last year.
- Germany has 257.50 times the GDP that Malta does. The ratio of largest GDP to smallest GDP was up from 256.28 last quarter and down from 262.90 last year.
- The median GDP in the 28 EU states is €223,448.80 million (down from €227,948.40 million last quarter and up from €215,915.80 last year) and the mean €580,213.54 million (down from €595,133.97 the previous quarter and down from €582,794.17 last year).
- Five states saw their nominal GDP rise from the previous quarter while 23 saw it drop.
- Sixteen states saw their nominal GDP rise from last year while 12 saw it drop.
- Data is from the first quarter of 2019, the fourth quarter of 2019, and the first quarter of 2020.
- 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, France saw the largest decrease over the previous quarter with a drop of €106,568.00 million. Ireland had the largest growth with a gain of €5,307.60 million. Year over year, Italy had the largest decrease with a drop of €82,254.80 million while the United Kingdom had the greatest increase with a gain of €38,120.40 million.
In relative terms, Italy had the largest decrease over the previous quarter with a 5.16% drop in GDP while Ireland had the greatest increase with a 1.50% rise in GDP. Year over year, Italy had the largest decrease with a 4.61% drop in GDP while Ireland had the largest growth with a 6.10% rise in GDP.
Germany accounted for over one-fifth of the economic output of the 28 states at 21.04%. It, with the United Kingdom accounted for just over one-third of the economic output of the 28 states at 36.77%. Adding in France amounts to just over half the economic output of the 28 states at 51.15%.
Sweden (from 9th to 8th largest GDP) surpassed one state over the previous quarter. Belgium (from 9th to 8th) was bested by one state. Year over year, Romania (from 15th to 14th) and Lithuania (from 24th to 23rd) each surpassed one state while Czechia (from 14th to 15th) and Slovenia (from 23rd to 24th) were each bested by one.
|State||First Quarter 2019||Fourth Quarter 2019||First Quarter 2020|
Eurostat. 2020. "GDP and Main Components." Accessed July 15, 2020. https://appsso.eurostat.ec.europa.eu/nui/show.do?query=BOOKMARK_DS-406779_QID_-65D7EB62_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-406779S_ADJ,SCA;DS-406779NA_ITEM,B1GQ;&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.