Per Capita GDP and Change in Per Capita GDP in EU and US Regions between 2016 and 2017

Aug 20, 2018
Chart of per capita GDP and change in per capita GDP in EU and US regions between 2016 and 2017

The chart above shows the per capita GDP and change in per capita GDP over the last year in EU and US regions in US dollars.  All four US regions have higher per capita GDPs than the four EU regions, however all four EU regions had higher growth rates than all four US regions and if current trends continue, one EU region will overtake one US region this year.

Findings

  • The difference between the region with the greatest absolute growth in per capita GDP, the Northern EU, and the region with the least, the Midwestern US, is $2,043.66.
  • The Northern EU has 3.38 times the per capita absolute economic growth that the Midwestern US does in the past year.
  • The difference between the region with the greatest growth rate in per capita GDP, the Eastern EU, and the region with the least, the Northeastern US, is 9.61 percentage points.
  • The Eastern EU has 7.89 times the per capita economic growth rate that the Northeastern US does in the past year.

Caveats

  • All percentages are rounded to the nearest hundredth.
  • EU and US data come from different sources.
  • US data was priced in 2009 dollars while the EU data was priced in current euros so the dollars were adjusted to current dollars using the inflation rates at RateInflation.
  • EU data was converted from euros to dollars at the average 2016 0.90 euros to dollars rate and the 2017 0.88 euros to dollars rate.
  • The Northeastern US consists of New York, Pennsylvania, New Jersey, Massachusetts, Maryland, Connecticut, New Hampshire, Delaware, Maine, Rhode Island, and Vermont.
  • The Western US consists of California, Washington, Colorado, Arizona, Oregon, Utah, Nevada, New Mexico, Hawaii, Idaho, Alaska, Montana, and Wyoming.
  • The Midwestern US consists of Illinois, Ohio, Michigan, Indiana, Minnesota, Wisconsin, Missouri, Iowa, Kansas, Nebraska, North Dakota, and South Dakota.
  • The Southern US consists of Texas, Florida, Georgia, North Carolina, Virginia, Tennessee, Louisiana, South Carolina, Alabama, Kentucky, Oklahoma, Arkansas, Mississippi, and West Virginia.
  • The Northern EU consists of Sweden, Denmark, and Finland.
  • 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.

Details

Only one EU region has a per capita GDP of over $50,000, while all four US regions do, and two US region have a per capita GDP of over $60,000.

All four US regions had states whose per capita GDP contracted in the past year.  However, only one EU region suffered the same fate and that was the Western EU with the United Kingdom.

Sources

Eurostat.  2017.  "Data Explorer."  Accessed December 11, 2017.  http://appsso.eurostat.ec.europa.eu/nui/show.do?dataset=urb_lpop1&lang=en.

Eurostat.  2018.  "Eurostat - Tables, Graphs and Maps Interface."  Accessed August 2, 2018.  http://appsso.eurostat.ec.europa.eu/nui/show.do?query=BOOKMARK_DS-420898_QID_-378D3319_UID_-3F171EB0&layout=TIME,C,X,0;GEO,L,Y,0;UNIT,L,Z,0;NA_ITEM,L,Z,1;INDICATORS,C,Z,2;&zSelection=DS-420898INDICATORS,OBS_FLAG;DS-420898UNIT,CP_EUR_HAB;DS-420898NA_ITEM,B1GQ;&rankName1=UNIT_1_2_-1_2&rankName2=INDICATORS_1_2_-1_2&rankName3=NA-ITEM_1_2_-1_2&rankName4=TIME_1_0_0_0&rankName5=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.

United States Census Bureau.  "Annual Estimates of the Resident Population: April 1, 2010 to July 1, 2016."  Accessed December 12, 2017.  http://factfinder2.census.gov.

US Department of Commerce.  2018.  "US Bureau of Economic Analysis."  Accessed June 26, 2018.  https://bea.gov/itable/iTable.cfm?ReqID=70&step=1#reqid=70&step=10&isuri=1&7003=1000&7035=-1&7004=naics&7005=1&7006=01000,02000,04000,05000,06000,08000,09000,10000,11000,12000,13000,15000,16000,17000,18000,19000,20000,21000,22000,23000,24000,25000,26000,27000,28000,29000,30000,31000,32000,33000,34000,35000,36000,37000,38000,39000,40000,41000,42000,44000,45000,46000,47000,48000,49000,50000,51000,53000,54000,55000,56000&7036=-1&7001=11000&7002=1&7090=70&7007=2017,2016,2015,2014,2013,2012,2011,2010,2009,2008,2007,2006&7093=levels.

Filed under: European Union versus United States
Tags: european union, united states, gdp, economic growth, comparison