The chart above shows the per capita annualized nominal gross domestic product (GDP) in each EU region as of the second quarter of 2020 in euros, the change from the previous quarter, and the per capita GDP one year prior. Every single region's economy contracted over the past quarter and over the past year.
Findings
- The difference between the region with the largest per capita GDP, the Northern EU, and the region with the smallest, the Eastern EU, is €34,588.06 (down from €36,325.74 last quarter and down from €36,121.76 last year). The Northern and Eastern EU had the largest and smallest per capita GDP respectively both last quarter and last year.
- The Northern EU has 3.71 times the per capita GDP that the Eastern EU does. The ratio of largest per capita GDP to smallest per capita GDP was up from 3.53 last quarter and up from 3.54 last year.
- All four regions saw their per capita GDP drop in current euros from the previous quarter.
- All four regions saw their per capita GDP drop in current euros from last year.
Caveats
- GDP data is from the second quarter of 2019, the first quarter of 2020, and the second quarter of 2020.
- Census data is from 2011.
- 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.
- 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.
- The Southern EU consists of Italy, Spain, Portugal, Greece, Cyprus, and Malta.
- The Western EU consists of Germany, United Kingdom, France, Netherlands, Belgium, Austria, Ireland, and Luxembourg.
Details
In absolute terms, the Western EU had the worst performance over the previous quarter with a drop of €4,819.47. The Eastern EU had the best performance with a drop of €1,601.03. Year over year, the Western EU had the worst performance with a drop of €4,957.98 while the Eastern EU had the best performance with a gain of €1,467.93.
In relative terms, the Southern EU had the worst performance over the previous quarter with a 14.29% drop in per capita GDP while the Northern EU had the best performance with a 6.59% drop in per capita GDP. Year over year, the Southern EU had the worst performance with a 17.77% drop in per capita GDP while the Northern EU had the best performance with a 5.96% drop in per capita GDP.
The Northern EU has the smallest range in per capita GDP with a low of $42,637.44 in Finland to a high of $52,647.58 in Denmark. The Western EU has the greatest range with a low of $31,640.39 in France to a high of $118,991.87 in Luxembourg.
The Northern EU has a per capita GDP that is higher than all Southern and Eastern EU states and all but one Northern EU and two Western EU states and is bested by three states in total. The Eastern EU has a per capita GDP that is lower than all states in all other regions and only bests five states from the Eastern EU.
Sources
Eurostat. 2020. "GDP and Main Components." Accessed October 15, 2020. https://appsso.eurostat.ec.europa.eu/nui/show.do?query=BOOKMARK_DS-406779_QID_75E42079_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.
Eurostat. 2017. "Population on 1 January by Age Groups and Sex - Functional Urban Areas." Accessed December 11, 2017. http://appsso.eurostat.ec.europa.eu/nui/show.do?dataset=urb_lpop1&lang=en.