Long-Term Per Capita GDP by EU State, Third Quarter 2020

Feb 16, 2021
Long-Term Per Capita Gross Domestic Product in EU States

The chart above shows the per capita annualized nominal gross domestic product (GDP) in each EU state as of the third quarter of 2020 in euros, the change from five years ago, and the per capita GDP ten years prior.  Luxembourg and Ireland had exceptional growth over the past five years.

Findings

  • The difference between the state with the largest per capita GDP, Luxembourg, and the state with the smallest, Bulgaria, is €119,654.49 (up from €94,060.79 five years ago and up from €74,347.89 ten years ago).  Luxembourg and Bulgaria had the largest and smallest per capita GDP respectively both five and ten years ago.
  • Luxembourg has 15.63 times the per capita GDP that Bulgaria does.  The ratio of largest per capita GDP to smallest per capita GDP was down from 16.26 five years ago and up from 15.42 ten years ago.
  • The median per capita GDP in the 28 EU states is €24,964.56 (up from €22,239.44 five years ago and up from €21,422.82 ten years ago) and the mean €33,131.67 (up from €28,503.06 five years ago and up from €24,317.66 ten years ago).
  • Of the 28 states, 26 had the per capita GDP rise in current euros over the past five years while two had the per capita GDP decline.
  • Of the 27 states, 24 had the per capita GDP rise in current euros over the past ten years while one had the per capita GDP decline.

Caveats

  • GDP data is from the third quarters of 2020, 2015, and 2010.
  • Census data is from 2001 and 2011.
  • The data is seasonally adjusted in current euros.
  • The data is annualized by multiplying the quarterly figure by four.
  • All figures are rounded to the nearest hundredth.

Details

In absolute terms, the United Kingdom had the worst performance over the past five years with a drop of €4,739.73.  Luxembourg had the best performance with a gain of €27,607.85.  Over the past ten years, Greece had the worst performance with a drop of €5,355.13 while Luxembourg had the best performance with a gain of €48,329.95.

In relative terms, the United Kingdom had the worst performance over the past five years with a 11.12% drop in per capita GDP while Ireland had the best performance with a 44.27% rise in per capita GDP.  Over the past ten years, Greece had the worst performance with a 26.94% drop in per capita GDP while Ireland had the best performance with a 126.12% rise in per capita GDP.

There were three states with a per capita GDP of over €40,000 ten years ago, seven states five years ago, and nine states now.  Conversely, there were 14 states with a per capita GDP of less than €20,000 ten years ago, 13 states five years ago, and ten states now.

Estonia (from 19th to 17th largest per capita GDP) rose two spots in the five year period.  Conversely, the United Kingdom (from 5th to 10th) fell five spots in the five year period.  Over the past ten years, Malta (from 18th to 12th) rose six spots, while Greece (from 15th to 22nd) fell seven spots.

Data

StateThird Quarter 2010Third Quarter 2015Third Quarter 2020
Austria35,447.5241,39045,956.16
Belgium33,253.3438,062.5241,873.93
Bulgaria5,155.086,164.288,178.43
Croatia10,673.6410,505.6211,206.15
Cyprus23,220.2221,282.0225,285.59
Czechia15,364.6416,445.9620,593.64
Denmark44,169.0449,205.1655,362.02
Estonia11,378.8515,797.4220,706.65
Finland35,001.7439,444.344,229.17
France30,845.1733,928.7736,493.42
Germany32,192.7937,868.0441,825
Greece19,877.9715,703.2714,522.84
Hungary9,838.3311,253.8313,527.75
Ireland36,997.9457,987.2583,658.18
Italy27,196.6627,960.3628,896.27
Latvia8,587.2711,948.314,289.56
Lithuania9,275.0212,276.416,030.07
Luxembourg79,502.97100,225.07127,832.92
Malta16,573.9324,316.7930,415.26
Netherlands38,556.5741,850.748,808.9
Poland9,568.3711,306.4514,043.04
Portugal17,069.6317,066.0719,496.21
Romania6,184.018,054.6710,609.6
Slovakia12,778.1714,883.5617,447.07
Slovenia17,728.918,934.0623,142.45
Spain22,967.6623,196.8624,643.53
Sweden40,750.5948,407.150,731.8
United Kingdom30,738.5942,620.7837,881.05

Sources

Eurostat.  2021.  "GDP and Main Components."  Accessed February 8, 2021.  https://appsso.eurostat.ec.europa.eu/nui/show.do?query=BOOKMARK_DS-406779_QID_3C44FE83_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.

Eurostat.  2017.  "Population change - Demographic balance and crude rates at national level."  Accessed December 11, 2017.  http://appsso.eurostat.ec.europa.eu/nui/show.do?query=BOOKMARK_DS-054722_QID_690C8C0A_UID_-3F171EB0&layout=TIME,C,X,0;GEO,L,Y,0;INDIC_DE,L,Z,0;INDICATORS,C,Z,1;&zSelection=DS-054722INDICATORS,OBS_FLAG;DS-054722INDIC_DE,JAN;&rankName1=INDICATORS_1_2_-1_2&rankName2=INDIC-DE_1_2_-1_2&rankName3=TIME_1_0_0_0&rankName4=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.

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