EU GDP by State, First Quarter 2021

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.

Findings

• 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.

Caveats

• 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.

Details

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.

Data

State	First Quarter 2020	Fourth Quarter 2020	First Quarter 2021
Austria	388,277.6	378,652.8	378,570.4
Belgium	467,788	465,980	476,100
Bulgaria	62,750	62,424.8	65,108.8
Croatia	54,401.2	50,935.6	54,060
Cyprus	22,303.6	21,114	21,606.8
Czechia	226,780.4	219,545.2	225,642.4
Denmark	315,559.2	319,282.8	316,307.6
Estonia	27,728.8	27,990.4	29,252.4
Finland	241,716	237,852	240,292
France	2,330,632	2,386,404	2,396,976
Germany	3,437,472	3,399,684	3,409,784
Greece	179,114.8	166,203.2	170,374.8
Hungary	146,108	139,029.6	143,951.2
Ireland	374,295.2	370,781.2	407,423.6
Italy	1,688,525.2	1,700,831.2	1,701,171.2
Latvia	30,104.4	30,125.6	30,438.8
Lithuania	49,878	49,711.6	51,724
Luxembourg	63,469.6	67,723.6	68,865.2
Malta	13,570.4	13,116.8	13,465.6
Netherlands	816,608	822,014	815,431.2
Poland	543,068	532,838	538,694.4
Portugal	210,919.2	207,174	203,325.6
Romania	230,556	228,122	234,622.8
Slovakia	91,806.4	95,448.4	92,584
Slovenia	46,714.8	47,446	48,547.6
Spain	1,188,336	1,160,112	1,153,136
Sweden	479,113.2	496,300	515,448.8
United Kingdom	2,571,481.6	2,409,209.6	2,482,246.4

Sources

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.