Economy of the European Union

Economy of the European Union

Currency	1 Euro (€) = 100 cents
Statistics
GDP	US$18.495 trillion (Nominal, 2014) US$18.526 trillion (PPP, 2014) €13.070 trillion (2013)
GDP growth	1.3% (2014)
GDP per capita	US$34,300 (nominal, 2013) US$36,699 (PPP, 2014)
GDP by sector	70.5% services (2006) 27.3% industry   2.1% agriculture
GDP by component	r
Inflation (CPI)	0.6% (2014)
Population below poverty line	17%
Labour force	240.2 million
Labour force by occupation	69.8% services (2011) 25.2% industry   5.0% agriculture
Unemployment	9.3% (October 2015)
External
Exports	€1.737 trillion/$2.302 trillion (goods, 2013) €657.4 billion/$880 billion (services, 2013)
Export goods	Machinery and transport equipment 40.7% Other manufactured goods 22.1% Chemicals and related products 15.7% Food, drinks and tobacco 6.0% Mineral fuels and lubricants 7.0% Raw materials 2.6% Commodities and transactions 5.8% (2013)
Main export partners	United States 16.5%   Switzerland 9.7%  China 8.5%  Russia 6.9%  Turkey 4.5%  Japan 3.1%  Norway 2.9% (2013)
Imports	€1.682 trillion/$2.235 trillion (goos, 2013) €510.6 billion/$667.0 billion (services, 2013)
Import goods	Machinery and transport equipment 25.8% Other manufactured goods 22.7% Mineral fuels and lubricants 29.6% Chemicals and related products 9.4% Food, drinks and tobacco 5.6% Raw materials 4.5% Commodities and transactions 2.4% (2013)
Main import partners	China 16.6%  Russia 12.2%  United States 11.6%   Switzerland 5.6%  Norway 5.3%  Japan 3.64%  Turkey 3.0% (2013)
FDI stock	€ 3.947 trillion (inward, 2012) € 5.206 trillion (outward, 2012)
Current account	€ 155.736 billion (2013)
Public finances
Public debt	€ 12,094 billion (86.8% of GDP, 2014)
Budget deficit	€ -401.8 billion (-2.9% of GDP, 2014)
Revenues	45.2% of GDP (2014)
Expenses	48.1% of GDP (2014)
Sources:

The economy of the European Union generates a GDP (nominal) of about €14.3 trillion (US$18.5 trillion in 2014) and a GDP (PPP) of about €12.7 trillion (US$16.8 trillion in 2014) according to the International Monetary Fund,^[1] which makes it the largest or second largest economy in the world respectively if treated as the economy of a single country depending on the source used.

The European Union (EU) economy consists of an internal market and the EU is represented as a unified entity in the World Trade Organization (WTO).

Currency

Beginning in the year 1999 with some EU member states, now 19 out of 28 EU states use the euro as official currency in a currency union. The remaining 9 states continued to use their own currency with the possibility to join the euro later. The euro is also the most widely used currency in the EU.

Since 1992 the Maastricht treaty sets out rigid economic and fiscal convergence criteria for the states joining the euro. Starting 1997, the Stability and Growth Pact has been started to ensure continuing economic and fiscal stability and convergence.

Denmark and the United Kingdom, not members of the eurozone, have special opt-outs concerning the later joining of the euro. Also, Sweden can effectively opt out by choosing when or whether to join the European Exchange Rate Mechanism, which is the preliminary step towards joining. The remaining states are committed to join the euro through their Treaties of Accession.

Starting with Greece in 2009, five of the 19 eurozone states have been struggling with a sovereign debt crisis, by many called the European debt crisis. All these states started reforms and got bailout packages (Greece, Ireland, Portugal, Spain, Cyprus). As of May 2015, all countries but Greece have recovered from their debt crisis (Greece is recovering as of April 2016, though). Other non-eurozone states also experienced a debt crisis and also went through successful bailout programmes, i.e. Hungary, Romania and Latvia (the latter before it joined the eurozone).^[2]

Budget

The operation of the EU has an agreed budget of €141 billion for the year 2011, and €862 billion for the period 2007–2013,^[3] this represents around 1% of the EU's GDP.

Industries

The services sector is by far the most important sector in the European Union, making up 74.7% of GDP, compared to the manufacturing industry with 23.8% of GDP and agriculture with only 1.5% of GDP.^[4]

Agriculture

The agricultural sector is supported by subsidies from the European Union in the form of the Common Agricultural Policy (CAP). In 2013 this represented approximately €45billion (less than 33% of the overall budget of €148billion) of the EU's total spending.^[5] It was used originally to guarantee a minimum price for farmers in the EU. This is criticised as a form of protectionism, inhibiting trade, and damaging developing countries; one of the most vocal opponents is the UK, the second largest economy within the bloc, which has repeatedly refused to give up the annual UK rebate unless the CAP undergoes significant reform; France, the biggest beneficiary of the CAP and the bloc's third largest economy, is its most vocal proponent. The CAP is however witnessing substantial reform. In 1985, around 70% of the EU budget was spent on agriculture. In 2011, direct aid to farmers and market-related expenditure amount to just 30% of the budget, and rural development spending to 11%. By 2011, 90% of direct support had become non-trade-distorting (not linked to production) as reforms have continued to be made to the CAP, its funding and its design.^[6]

Tourism

The European Union is a major tourist destination, attracting visitors from outside of the Union and citizens travelling inside it. Internal tourism is made more convenient by the Schengen treaty and the euro. All citizens of the European Union are entitled to travel to any member state without the need of a visa.

France is the world's number one tourist destination for international visitors, followed by Spain, Italy, Germany and the United Kingdom. It is worth noting, however, that a significant proportion of international visitors to EU countries are from other member states.

London, the capital of the United Kingdom is also the world's most visited city (16.9 million visitors in 2012) and the highest in tourism receipts, shortly followed by Paris with 16 million visitors.^[7]

Companies

The European Union's member states are the birthplace of many of the world's largest leading multinational companies, and home to its global headquarters. Among these are distinguished companies ranked first in the world within their industry/sector, like Allianz, which is the largest financial service provider in the world by revenue; WPP plc which is the world's largest advertising agency by revenue; Airbus, which is the world's largest aircraft manufacturer;^[8] Air France-KLM, which is the largest airline company in the world in terms of total operating revenues; Amorim, which is the world's largest cork-processing and cork producer company; ArcelorMittal, which is the largest steel company in the world; Inditex which is the biggest fashion group in the world; Groupe Danone, which has the world leadership in the dairy products market.

Anheuser-Busch InBev is the largest beer company in the world; L'Oréal Group, which is the world's largest cosmetics and beauty company; LVMH, which is the world's largest luxury goods conglomerate; Nokia Corporation, which is the world's largest manufacturer of mobile telephones; Royal Dutch Shell, which is one of the largest energy corporations in the world; and Stora Enso, which is the world's largest pulp and paper manufacturer in terms of production capacity, in terms of banking and finance the EU has some of the worlds largest notably HSBC and Grupo Santander, the largest bank in Europe in terms of Market Capitalisation.

Many other European companies rank among the world's largest companies in terms of turnover, profit, market share, number of employees or other major indicators. A considerable number of EU-based companies are ranked among the worlds' top-ten within their sector of activity. Europe is also home to many prestigious car companies such as Audi, Mercedes, Jaguar Land Rover, Volkswagen, BMW group as well as volume manufacturers such as Fiat, PSA group and Renault.

Economies of member states

GDP per capita in 2014

Below is a table showing, respectively, the GDP and the GDP (PPP) per capita for the European Union and for each of its member states, ordered according to the 'Size' of their economies. The table can also be used as a rough gauge to the relative standards of living among member states, with Luxembourg the highest and Bulgaria the lowest. Eurostat, based in Luxembourg, is the Official Statistical Office of the European Communities releasing yearly GDP figures for the member states as well as the EU as a whole, which are regularly updated, supporting this way a measure of wealth and a base for the European Union's budgetary and economic policies. Figures are stated in euros.

Economic performance varies from state to state. The Growth and Stability Pact governs fiscal policy with the European Union. It applies to all member states, with specific rules which apply to the eurozone members that stipulate that each state's deficit must not exceed 3% of GDP and its public debt must not exceed 60% of GDP. Many larger members have consistently run deficits substantially in excess of 3%, and the eurozone as a whole has a debt percentage exceeding 60% (see below).

Member state sorted by GDP	GDP (Nominal) in billions of euro (2015)[9]	GDP (Nominal) per capita 2015 euro[9]	GDP (PPP) per capita 2014 euro[10]	Public debt[11] % of GDP (2015)	Deficit (-)/ Surplus (+)[12] % of GDP (2015)	Inflation % Annual[13] (2015)	Unemp.[14] % 2015
European Union	14,625.4	28,700	27,400	85.2	−2.4	0.0	9.4
Germany	3,025.9	37,100	34,500	71.2	0.7	0.1	4.6
United Kingdom	2,568.9	39,500	29,900	89.2	−4.4	0.0	5.3
France	2,183.6	32,200^†	29,300	95.8	−3.5	0.1	10.4
Italy	1,636.4	26,900	26,400	132.7	−2.6	0.1	11.9
Spain	1,081.2	23,300	25,000	99.2	−5.1	-0.6	22.1
Netherlands	678.6	41,000	35,900	65.1	−1.8	0.2	6.9
Sweden	444.2	45,300	33,700	43.4	0.0	0.7	7.4
Poland	427.7	11,100	18,600	51.3	−2.6	-0.7	7.5
Belgium	409.8	36,500	32,500	106.0	−2.6	0.6	8.3
Austria	337.2	39,100	35,500	86.2	-1.2	0.8	5.7
Denmark	266.3	46,900	34,200	40.2	-2.1	0.2	6.2
Ireland	214.6	46,200	36,800	93.8	−2.3	0.0	9.4
Finland	207.2	37,800	30,300	63.1	−2.7	-0.2	9.4
Portugal	179.4	17,300	21,400	129.0	−4.4	0.5	12.6
Greece	176.0	16,200	19,900	176.9	−7.2	−1.1	24.9
Romania	160.4	8,100	15,200	38.4	−0.7	-0.4	6.8
Czech Republic	154.7^†	14,700^†	23,200	41.1	−0.4	0.3	5.1
Hungary	108.7	11,100	18,600	75.3	−2.0	0.1	6.8
Slovakia	78.1	14,400	21,100	52.9	-3.0	−0.3	11.5
Luxembourg	52.1	91,600	73,000	21.4	1.2	0.1	6.1
Bulgaria	44.2	6,100	12,800	26.7	−2.1	−1.1	9.4
Croatia	43.9	10,400	16,100	86.7	−3.2	-0.3	16.6
Slovenia	38.5	18,700	22,600	83.2	−2.9	-0.8	9.1
Lithuania	37.2	12,800	20,600	42.7	−0.2	-0.7	9.1
Latvia	24.4	12,300	17,500	36.4	−1.3	0.2	9.9
Estonia	20.5	15,600	20,900	9.7	0.4	0.1	6.2
Cyprus	17.4	20,600	22,400	108.9	−1.0	−1.6	15.6
Malta	8.8	20,400	23,600	63.9	−1.5	1.2	5.3

†.^ Uses 2014 data.

Economic growth

Population and GDP per capita of EU member states and some candidates

Economic growth (growth of real GDP).

The EU's share of gross world product (GWP) is stable at around one fifth.^[15]

The twelve new member states of the European Union have enjoyed a higher average percentage growth rate than their elder members of the EU. Slovakia has the highest GDP growth in the period 2005–2011 among all countries of the European Union (See Tatra Tiger). Notably the Baltic states have achieved high GDP growth, with Latvia topping 11%, close to China, the world leader at 9% on average for the past 25 years (though these gains have been in great part cancelled by the late-2000s recession).

Reasons for this growth include government commitments to stable monetary policy, export-oriented trade policies, low flat-tax rates and the utilisation of relatively cheap labour. In 2015 Ireland had the highest GDP growth of all the states in EU (5.2%). The current map of EU growth is one of huge regional variation, with the larger economies suffering from stagnant growth and the new nations enjoying sustained, robust economic growth.

Although EU28 GDP is on the increase, the percentage of gross world product is decreasing because of the emergence of economic powers such as China, India and Brazil.

EU member states GDP growth rates^[16]

Member state	2005	2006	2007	2008	2009	2010	2011	2012	2013	2014	2015	Growth (base year 2004)[17]
Austria	2.1	3.4	3.6	1.5	−3.8	1.9	2.8	0.8	0.3	0.4	0.9	14.5
Belgium	2.1	2.5	3.4	0.7	−2.3	2.7	1.8	0.2	0.0	1.3	1.4	14.5
Bulgaria	7.2	6.8	7.7	5.6	−4.2	0.1	1.6	0.2	1.3	1.5	3.0	34.6
Croatia	4.2	4.8	5.2	2.1	−7.4	−1.7	−0.3	−2.2	−1.1	−0.4	1.6	4.1
Cyprus	3.9	4.5	4.9	3.7	−2.0	1.4	0.4	−2.4	−5.9	−2.5	1.6	7.2
Czech Republic	6.4	6.9	5.5	2.7	−4.8	2.3	2.0	−0.9	−0.5	2.0	4.3	28.4
Denmark	2.4	3.8	0.8	−0.7	−5.1	1.6	1.2	−0.1	−0.2	1.3	1.2	6.1
Estonia	9.4	10.3	7.7	−5.4	−14.7	2.5	7.6	5.2	1.6	2.9	1.1	28.6
Finland	2.8	4.1	5.2	0.7	−8.3	3.0	2.6	−1.4	−0.8	−0.7	0.5	7.7
France	1.6	2.4	2.4	0.2	−2.9	2.0	2.1	0.2	0.7	0.2	1.2	10.4
Germany	0.7	3.7	3.3	1.1	−5.6	4.1	3.7	0.4	0.3	1.6	1.7	15.6
Greece	0.6	5.7	3.3	−0.3	−4.3	−5.5	−9.1	−7.3	−3.2	0.7	−0.2	−18.8
Hungary	4.4	3.8	0.4	0.8	−6.6	0.7	1.8	−1.7	1.9	3.7	2.9	12.2
Ireland	6.3	6.3	5.5	−2.2	−5.6	0.4	2.6	0.2	1.4	5.2	7.8	30.6
Italy	0.9	2.0	1.5	−1.0	−5.5	1.7	0.6	−2.8	−1.7	−0.3	0.8	−3.9
Latvia	10.7	11.9	10.0	−3.6	−14.3	−3.8	6.2	4.0	3.0	2.4	2.7	29.5
Lithuania	7.8	7.4	11.1	2.6	−14.8	1.6	6.0	3.8	3.5	3.0	1.6	36.1
Luxembourg	3.2	5.1	8.4	-0.8	−5.4	5.7	2.6	−0.8	4.3	4.1	4.8	33.6
Malta	3.8	1.8	4.0	3.3	−2.5	3.5	1.9	2.8	4.1	3.7	6.3	37.7
Netherlands	2.2	3.5	3.7	1.7	−3.8	1.4	1.7	−1.1	−0.5	1.0	1.9	12.0
Poland	3.5	6.2	7.2	3.9	2.6	3.7	5.0	1.6	1.3	3.3	3.6	50.6
Portugal	0.8	1.6	2.5	0.2	−3.0	1.9	−1.8	−4.0	−1.1	0.9	1.5	−0.7
Romania	4.2	8.1	6.9	8.5	−7.1	−0.8	1.1	0.6	3.5	3.0	3.8	35.5
Slovakia	6.4	8.5	10.8	5.7	−5.5	5.1	2.8	1.5	1.4	2.5	3.6	50.8
Slovenia	4.0	5.7	6.9	3.3	−7.8	1.2	0.6	−2.7	−1.1	3.0	2.9	16.2
Spain	3.7	4.2	3.8	1.1	−3.6	0.0	−1.0	−2.6	−1.7	1.4	3.2	8.4
Sweden	2.8	4.7	3.4	−0.6	−5.2	6.0	2.7	−0.3	1.2	2.3	4.1	22.6
United Kingdom	3.0	2.7	2.6	−0.5	−4.2	1.5	2.0	1.2	2.2	2.9	2.2	16.4
European Union	2.1	3.3	3.1	0.5	−4.4	2.1	1.8	−0.5	0.2	1.4	1.9	10.6
Eurozone	1.6	3.2	3.0	0.5	−4.5	2.1	1.6	−0.9	−0.3	0.9	1.6	8.9

Energy resources

Wind power stations in Cerová, Slovakia.

The European Union has uranium, coal, oil, and natural gas reserves. There are six oil producers in the European Union, primarily in North Sea oilfields. The United Kingdom is by far the largest producer; Denmark, Germany, Italy, Romania and the Netherlands all produce oil. If it is treated as a single unit, which is not conventional in the oil markets, the European Union is the 19th largest producer of oil in the world, producing 1,241,370 (2013) barrels a day.

It is the world's second largest consumer of oil, consuming much more than it can produce, at 12,790,000 (2013) barrels a day. Much of the difference comes from Russia and the Caspian Sea basin. All countries in the EU have committed to the Kyoto Protocol, and the European Union is one of its biggest proponents. The European Commission published proposals for the first comprehensive EU energy policy on 10 January 2007.

see also: Renewable energy in the European Union and Category:Energy in the European Union

Trade

  EU

  Top 10 trading partners (2010)

  Top 11–20 trading partners (2010)

EU imports, exports and balance of trade in goods from 2007 to 2013 (in billions of euro)

EU current account(quarterly data ) in millions of euro.

The European Union is the largest exporter in the world^[18] and as of 2008 the largest importer of goods and services.^[19] Internal trade between the member states is aided by the removal of barriers to trade such as tariffs and border controls. In the eurozone, trade is helped by not having any currency differences to deal with amongst most members.^[20]

The European Union Association Agreement does something similar for a much larger range of countries, partly as a so-called soft approach ('a carrot instead of a stick') to influence the politics in those countries. The European Union represents all its members at the World Trade Organization (WTO), and acts on behalf of member states in any disputes. When the EU negotiates trade related agreement outside the WTO framework, the subsequent agreement must be approved by each individual EU member.^[20]

Main trading partners (2015)[21]

Rank Partners Imports (million euro) % (of total) Exports (million euro) % (of total) Total trade (million euro) % (of total) - Total EU 1,724,867 100% 1,789,063 100% 3,513,929 100% 1  United States 246,211 14,3% 369,549 20,7% 615,760 17,5% 2  China 350,257 20,3% 170,399 9,5% 520,657 14,8% 3   Switzerland 102,299 5,9% 150,833 8,4% 253,132 7,2% 4  Russia 135,876 7,9% 73,905 4,1% 209,781 6,0% 5  Turkey 61,574 3,6% 78,959 4,4% 140,533 4,0% 6  Norway 74,313 4,3% 48,867 2,7% 123,180 3,5% 7  Japan 59,726 3,5% 56,572 3,2% 116,298 3,3% 8  South Korea 42,327 2,5% 47,882 2,7% 90,209 2,6% 9  India 39,449 2,3% 37,919 2,1% 77,368 2,2% 10  Brazil 30,879 1,8% 34,588 1,9% 65,468 1,9% 11  Canada 28,223 1,6% 35,210 2,0% 63,433 1,8% 12  Saudi Arabia 21,506 1,2% 40,248 2,2% 61,754 1,8% 13  United Arab Emirates 9,364 0,5% 48,480 2,7% 57,844 1,6% 14  Mexico 19,675 1,1% 33,657 1,9% 53,333 1,5% 15  Hong Kong 14,221 0,8% 35,382 2,0% 49,603 1,4% 16  Singapore 18,898 1,1% 29,690 1,7% 48,588 1,4% 17  South Africa 19,345 1,1% 25,454 1,4% 44,798 1,3% 18  Taiwan 25,487 1,5% 18,456 1,0% 43,943 1,3% 19  Algeria 20,868 1,2% 22,289 1,2% 43,157 1,2% 20  Australia 9,555 0,6% 31,634 1,8% 41,190 1,2% 21  Vietnam 29,958 1,7% 8,438 0,5% 38,396 1,1% 22  Malaysia 22,721 1,3% 13,354 0,7% 36,074 1,0% 23  Thailand 19,537 1,1% 13,369 0,7% 32,906 0,9% 24  Israel 13,259 0,8% 18,979 1,1% 32,238 0,9% 25  Morocco 12,525 0,7% 18,186 1,0% 30,710 0,9% 26  Nigeria 18,435 1,1% 10,654 0,6% 29,080 0,8% 27  Egypt 7,235 0,4% 20,444 1,1% 27,678 0,8% 28  Ukraine 12,783 0,7% 13,921 0,8% 26,703 0,8% 29  Indonesia 15,338 0,9% 9,992 0,6% 25,330 0,7% 30  Kazakhstan 16,250 0,9% 6,212 0,3% 22,461 0,6% 31  Tunisia 9,504 0,6% 10,750 0,6% 20,254 0,6% 32  Serbia 7,899 0,5% 11,175 0,6% 19,074 0,5% 33  Qatar 7,480 0,4% 10,532 0,6% 18,012 0,5% 34  Bangladesh 15,144 0,9% 2,458 0,1% 17,603 0,5% 35  Argentina 8,166 0,5% 9,118 0,5% 17,283 0,5% 36  Iraq 12,206 0,7% 4,553 0,3% 16,760 0,5% 37  Chile 8,291 0,5% 8,350 0,4% 16,642 0,5% 38  Azerbaijan 10,739 0,6% 3,461 0,2% 14,200 0,4% 39  Colombia 6,703 0,4% 6,544 0,4% 13,247 0,4% 40  Philippines 6,780 0,4% 6,159 0,3% 12,939 0,4% 41  Angola 7,949 0,5% 4,863 0,3% 12,811 0,4% 42  Libya 7,544 0,4% 4,308 0,2% 11,851 0,3% 43  Pakistan 6,067 0,4% 4,435 0,2% 10,501 0,3% 44  Kuwait 4,208 0,2% 5,994 0,3% 10,202 0,3% 45  Belarus 3,711 0,2% 5,713 0,3% 9,423 0,3% 46  Peru 5,042 0,3% 3,728 0,2% 8,770 0,2% 47  Bosnia-Herzegovina 3,505 0,2% 5,084 0,3% 8,590 0,2% 48  New Zealand 3,492 0,2% 4,617 0,3% 8,109 0,2% 49  Iran 1,233 0,1% 6,485 0,4% 7,717 0,2% 50  Macedonia 3,364 0,2% 4,109 0,2% 7,473 0,2%

Trade with partner country groupings(2012)[21]

Rank Partner region Imports (million euro) % (of total) Exports (million euro) % (of total) Total trade (million euro) % (of total) - Total EU 1,791,727 100% 1,686,774 100% 3,478,501 100% - ACP 99,196 5,5% 86,652 5,1% 185,848 5,3% - Andean Community 17,728 1,0% 11,738 0,7% 29,467 0,8% - ASEAN 100,035 5,6% 81,324 4,8% 181,360 5,2% - BRIC 577,513 32,2% 345,198 20,5% 922,711 26,5% - CACM 9,546 0,5% 5,354 0,3% 14,900 0,4% - EU Candidate Countries 55,386 3,1% 89,654 5,3% 145,040 4,2% - CIS 273,505 15,3% 172,641 10,2% 446,1460 12,8% - EFTA 208,739 11,7% 186,222 11,0% 394,961 11,4% - Latin America Countries 109,978 6,1% 110,297 6,5% 220,275 6,3% - MEDA(Excl. EU and Turkey) 73,341 4,1% 92,812 5,5% 166,153 4,8% - Mercosur 49,196 2,7% 50,266 3,0% 99,461 2,9% - NAFTA 255,657 14,3% 351,090 20,8% 606,746 17,4%

Main trading partners 2008–2011

Main trade partners[22]	2008			2009			2010			2011
	Exports (million euro)	Imports (million euro)	Total Trade (million euro)	Exports	Imports	Total Trade	Exports	Imports	Total Trade	Exports	Imports	Total Trade
Total EU	1,319,819	1,582,932	2,902,751	1,101,746	1,234,317	2,336,063	1,360,059	1,531,043	2,891,102	1,561,890	1,726,514	3,288,404
United States	247,818	182,351	430,169	203,587	154,862	358,449	242,451	173,067	415,518	263,791	191,555	455,346
China	78,276	247,815	326,091	82,391	214,238	296,629	113,426	282,509	395,935	136,372	293,693	430,065
Russia	104,843	178,294	283,137	65,587	118,122	183,709	86,134	160,709	246,843	108,355	199,922	308,277
Switzerland	100,537	82,348	182,885	88,693	80,570	169,263	110,401	85,228	195,629	142,022	93,202	235,224
Norway	43,698	95,888	139,586	37,476	68,864	106,340	41,914	78,981	120,895	46,678	93,813	140,491
Japan	42,347	76,177	118,524	35,932	58,233	94,165	43,948	67,258	111,206	49,018	69,549	118,567
Turkey	54,415	45,963	100,378	44,385	36,228	80,613	61,747	42,397	104,144	73,096	48,143	121,239
India	31,349	29,540	60,889	27,477	25,414	52,891	34,866	33,308	68,112	40,558	39,906	80,464
South Korea	25,491	39,565	65,056	21,596	32,370	53,966	27,957	39,391	67,348	32,510	36,175	68,685
Brazil	26,302	35,855	62,157	21,574	25,926	47,500	31,466	33,238	64,704	35,752	38,939	74,691
Canada	25,468	25,043	50,511	21,934	19,285	41,219	26,758	24,697	51,455	29,885	30,708	60,593
Singapore	22,213	16,137	38,350	20,404	14,579	34,983	24,550	18,760	43,310	27,256	19,184	46,440
South Africa	20,800	24,597	45,397	16,083	19,229	35,312	21,755	20,406	42,161	26,212	21,807	48,019
Saudi Arabia	21,081	22,001	43,082	19,068	11,766	30,834	23,216	16,300	39,516	26,401	28,440	54,841
Taiwan	11,595	24,069	35,660	10,021	17,875	27,896	14,782	24,138	38,920	16,212	24,230	40,532
Hong Kong	21,786	12,258	34,044	19,667	13,277	32,944	27,250	14,302	41,552	30,763	10,969	41,732
Australia	26,689	13,785	40,474	21,930	9,923	31,853	26,955	12,454	39,409	31,159	14,944	46,103
Algeria	15,391	28,259	43,650	14,807	17,410	32,217	15,584	21,069	36,653	17,279	27,844	45,123
Libya	5,836	35,308	41,144	6,484	20,870	27,354	7,087	29,230	36,317	2,093	10,444	12,537
Mexico	21,976	13,981	35,597	15,988	10,135	26,123	21,342	13,748	35,090	23,908	16,985	40,893

Unemployment

Unemployment rate by country in the EU in May 2015.

Unemployment rates in selected European countries and in the EU28 between 01/2004 and 04/2014.

The euro area seasonally adjusted unemployment rate was 12.1% in November 2013, stable since April. The EU unemployment rate was 10.9%, stable since May. In both zones, the rates increased compared with November 2012, when they were 11.8% and 10.8% respectively. Among the member states, the lowest unemployment rates were recorded in Austria (4.8%), Germany (5.2%) and Luxembourg (6.1%), and the highest in Greece (27.4% in September 2013) and Spain (26.7%).^[23]

The following table shows the history of the unemployment rate for all European Union member states:

Unemployment[24]	2005-03	2006-03	2007-03	2008-03	2009-03	2010-03	2011-03	2012-03	2013-03	2014-03	2015-03
Austria	5.0	5.2	4.4	3.7	4.6	4.6	4.2	4.2	4.9	4.9	5.6
Belgium	8.4	8.7	7.8	6.9	7.9	8.3	7.0	7.3	8.3	8.5	8.7
Denmark	5.2	4.2	3.7	3.2	5.3	7.6	7.4	7.7	7.1	6.6	6.3
Finland	8.5	7.9	7.0	6.2	7.6	8.6	7.9	7.5	8.1	8.4	9.3
France	8.7	9.1	8.4	7.1	8.9	9.3	9.1	9.6	10.3	10.4	10.3
Germany	11.4	10.5	9.0	7.8	7.7	7.4	6.2	5.5	5.4	5.2	4.8
Greece	10.1	9.3	8.9	8.2	9.2	11.7	16.1	22.6	27.2	26.8	25.6
Ireland	4.3	4.5	4.7	5.2	11.2	13.3	14.3	15.0	13.7	12.0	9.8
Italy	7.8	7.1	5.9	6.4	7.6	8.4	7.9	10.4	12.0	12.6	12.6
Luxembourg	4.6	4.7	4.3	4.4	5.4	4.6	4.7	5.0	5.7	6.1	5.8
Netherlands	5.5	4.6	3.8	3.0	3.2	4.5	4.2	5.0	6.4	7.2	7.0
Portugal	8.3	8.3	9.1	8.2	10.0	11.7	12.3	14.9	17.3	14.8	13.2
Spain	9.7	8.6	8.0	9.3	17.2	19.4	20.6	23.9	26.3	25.2	22.9
Sweden	7.3	7.4	6.5	5.8	7.8	8.8	7.9	7.5	8.3	8.0	7.6
United Kingdom	4.6	5.3	5.5	5.2	7.3	7.9	7.7	8.1	7.7	6.6	5.4
Bulgaria	10.6	9.1	7.3	5.9	6.0	9.8	11.1	12.0	12.9	13.0	9.9
Croatia	13.2	12.3	10.5	9.1	8.9	10.8	13.7	15.4	16.4	17.4	16.7
Cyprus	5.4	5.0	3.9	3.9	4.6	6.8	7.0	10.7	14.7	16.9	16.3
Czech Republic	8.0	7.7	5.7	4.3	5.9	7.8	6.9	7.0	7.3	6.6	5.9
Estonia	8.6	6.3	5.1	4.3	11.4	18.5	13.1	10.6	8.8	7.7	6.2
Hungary	6.9	7.3	7.3	7.5	9.5	11.4	11.0	11.2	10.6	7.8	7.3
Latvia	11.1	8.1	6.5	6.2	13.7	20.8	17.2	15.7	12.7	11.5	9.9
Lithuania	9.7	6.2	4.1	4.1	11.6	17.7	16.5	13.8	12.4	11.9	9.0
Malta	7.2	7.1	6.9	5.9	6.5	7.0	6.4	6.4	6.2	6.9	5.8
Poland	18.4	15.3	10.3	7.2	7.6	9.9	9.5	9.9	10.6	9.8	7.9
Romania	7.8	7.1	6.6	5.8	6.5	7.6	7.1	7.2	7.2	7.2	6.8
Slovakia	17.0	14.3	11.2	10.1	10.7	14.9	13.6	13.8	14.2	14.0	12.0
Slovenia	6.4	6.2	5.1	4.6	5.3	7.0	8.0	7.9	10.7	9.6	9.3
European Union	9.2	8.5	7.4	6.7	8.6	9.7	9.4	10.2	10.9	10.5	9.7

Regional variation

Comparing the richest areas of the EU can be a difficult task. This is because the NUTS 1 & 2 regions are not homogenous, some of them being very large regions, such as NUTS-1 Hesse (21,100 km²) or NUTS-1 Île-de-France (12,011 km²), whilst other NUTS regions are much smaller, for example NUTS-1 Hamburg (755 km²) or NUTS-1 Greater London (1,580 km²). An extreme example is Finland, which is divided for historical reasons into mainland Finland with 5.3 million inhabitants and Åland, an autonomous archipelago with a population of 27,000, or about the population of a small Finnish city.

One problem with this data is that some areas, including Greater London, are subject to a large number of commuters coming into the area, thereby artificially inflating the figures. It has the effect of raising GDP but not altering the number of people living in the area, inflating the GDP per capita figure. Similar problems can be produced by a large number of tourists visiting the area. The data is used to define regions that are supported with financial aid in programs such as the European Regional Development Fund. The decision to delineate a Nomenclature of Territorial Units for Statistics (NUTS) region is to a large extent arbitrary (i.e. not based on objective and uniform criteria across Europe), and is decided at European level (See also: Regions of the European Union).

Top 10: economically strongest NUTS-1 and NUTS-2 regions

The 10 NUTS-1 and NUTS-2 regions with the highest GDP per capita are almost all, except two, in the first fifteen-member states: Prague and Bratislava are the only ones in the 13 new member states that joined in May 2004, January 2007 and July 2013. The leading regions in the ranking of NUTS-2 regional GDP per inhabitant in 2014 were Inner London-West in the United Kingdom (539% of the average), the Grand Duchy of Luxembourg (266%) and Bruxelles/Brussels in Belgium (207%). Figures for these three regions, however, are artificially inflated by the commuters who do not reside in these regions ("Net commuter inflows in these regions push up production to a level that could not be achieved by the resident active population on its own. The result is that GDP per inhabitant appears to be overestimated in these regions and underestimated in regions with commuter outflows."^[25]).

Another example of artificial inflation is Groningen. The calculated GDP per capita is very high because of the large natural gas reserves in this region, but Groningen is one of the poorest parts in the Netherlands. Among the 46 NUTS-2 regions exceeding the 125% level, fourteen were in Germany, five in the Netherlands and in Austria, four each in Belgium and the United Kingdom, three in Italy, two in Finland and one in Czech Republic, Denmark, Ireland, France, Romania, Slovakia, Spain and Sweden, as well as in the single region Grand Duchy of Luxembourg. The NUTS Regulation lays down a minimum population size of 3 million and a maximum size of 7 million for the average NUTS-1 region, whereas a minimum of 800,000 and a maximum of 3 million for NUTS-2 regions ¹ . This definition, however, is not respected by Eurostat. E.g.: the région of Île-de-France, with 11.6 million inhabitants, is treated as a NUTS-2 region, while the state Free Hanseatic City of Bremen, with only 664,000 inhabitants, is treated as a NUTS-1 region.

Rank NUTS-2 Region Member state GDP per capita in euros As % of EU-28 average 1. Inner London - West  United Kingdom 148,000 539% 2. Luxembourg  Luxembourg 73,000 266% 3. Bruxelles-Cap., Brussels Hfdst.  Belgium 57,000 207% 4. Hamburg  Germany 56,600 206% 5. Inner London - East  United Kingdom 56,100 204% 6. Bratislavský kraj  Slovakia 51,200 186% 7. Oberbayern  Germany 49,100 179% 8. Île de France  France 49,000 178% 9. Praha  Czech Republic 47,500 173% 10. Stockholm  Sweden 47,200 172%

Rank NUTS-1 Region Member state GDP per capita in euros As % of EU-28 average 1. Luxembourg  Luxembourg 73,000 266% 2. Bruxelles-Cap., Brussels Hfdst.  Belgium 57,000 207% 3. Hamburg  Germany 56,600 206% 5. London  United Kingdom 51,200 186% 4. Île-de-France  France 49,000 178% 6. Bremen  Germany 44,100 161% 7. Bayern  Germany 39,700 145% 7. Hessen  Germany 39,700 145% 9. Baden-Württemberg  Germany 39,500 144% 9. Östra Sverige  Sweden 39,500 144% 9. West-Nederland  Netherlands 39,500 144% 12. Åland  Finland 37,900 138% 13. Westösterreich  Austria 37,800 138% 14. Ireland  Ireland 36,800 134% 15. Ostösterreich  Austria 35,600 130% 16. Zuid-Nederland  Netherlands 34,700 125% 17. Madrid  Spain 34,300 125% 18. Denmark  Denmark 34,200 125% 19. Nordrhein-Westfalen  Germany 34,200 124% 20. Vlaams Gewest  Belgium 33,000 120%

Source: Eurostat^[25]

Economically weakest NUTS-2 regions

Among the ten lowest regions in the ranking in 2014 most were in Bulgaria and Romania, with the lowest figure recorded in Severozapaden in Bulgaria. Among the 76 regions below the 75% level, fourteen were in Poland, eleven in Greece, seven in Romania, six each in Hungary and Italy, five each in Bulgaria, Portugal and Spain, four each in the Czech Republic and France, three in Slovakia, two each in Croatia and the United Kingdom, one in Slovenia as well as Latvia.^[25]

Rank NUTS-2 Region Member state GDP per capita in euros As % of EU-28 average 1. Severozapaden  Bulgaria 8,200 30% 2. Mayotte  France 8,400 31% 3. Yuzhen tsentralen  Bulgaria 8,700 32% 4. Severen tsentralen  Bulgaria 9,300 34% 5. Nord-Est  Romania 9,500 34% 6. Severoiztochen  Bulgaria 10,800 39% 6. Yugoiztochen  Bulgaria 10,800 39% 8. Sud-Vest Oltenia  Romania 11,200 41% 9. Észak-Magyarország  Hungary 11,600 42% 10. Észak-Alföld  Hungary 11,800 43% 10. Sud-Muntenia  Romania 11,800 43%

Rank NUTS-1 Region Member state GDP per capita in euros As % of EU-28 average 1. Severna i Iztochna Bulgaria  Bulgaria 9,900 36% 2. Macroregiunea Doi  Romania 11,300 41% 3. Alföld és Észak  Hungary 12,200 44% 4. Region Wschodni  Poland 13,200 48% 5. Macroregiunea Patru  Romania 13,400 49% 6. Macroregiunea Unu  Romania 13,600 50% 7. Voreia Ellada  Greece 15,100 55% 8. Region Północny  Poland 15,700 57% 9. Kentriki Ellada  Greece 15,800 57% 9. Yugozapadna i Yuzhna Tsentralna Bulgaria  Bulgaria 15,800 57% 11. Croatia  Croatia 16,100 59% 12. Dunántúl  Hungary 16,400 60% 13. Latvia  Latvia 17,500 64% 13. Sud  Italy 17,500 64% 15. Isole  Italy 17,700 64% 16. Region Północno-Zachodni  Poland 18,000 66% 17. Region Południowy  Poland 18,100 66% 18. Départements d'Outre-Mer  France 18,200 66% 19. Aegean Islands, Crete  Greece 18,400 67% 20. South  Spain 18,800 69%

Source: Eurostat^[25]

Richest and poorest NUTS regions (GDP PPP 2014)

Richest and poorest NUTS-2 regions (GDP PPP 2014) Member state Region GDP per capita in euros As % of EU-28 average  European Union 27,500 100.0%  Austria 35,500 129% Richest Vienna 43,500 158% Salzburg 41,600 152% Vorarlberg 38,200 139% Tirol 38,000 138% Upper Austria 36,100 132% Styria 32,000 116% Carinthia 29,700 108% Lower Austria 28,900 105% Poorest Burgenland 24,400 89%  Belgium 32,500 118% Richest Bruxelles-Cap., Brussels Hfdst. 57,000 207% Antwerpen 37,900 138% Brabant Wallon 35,800 130% Vlaams Brabant 35,300 129% West-Vlaanderen 31,700 115% Oost-Vlaanderen 29,700 108% Limburg 27,000 98% Liège 23,800 87% Namur 22,800 83% Poorest Hainaut 21,000 76% Luxembourg 21,000 76%  Bulgaria 12,800 47% Richest Yugozapaden 20,600 75% Severoiztochen 10,800 39% Yugoiztochen 10,800 39% Severen tsentralen 9,300 34% Yuzhen tsentralen 8,700 32% Poorest Severozapaden 8,200 30%  Croatia 16,100 59% Richest Kontinentalna Hrvatska 16,400 60% Poorest Jadranska Hrvatska 15,500 57%  Cyprus 22,400 82%  Czech Republic 23,200 84% Richest Praha 47,500 173% Jihovýchod 21,700 79% Střední Čechy 21,200 77% Jihozápad 20,800 76% Moravskoslezsko 19,400 70% Severovýchod 19,200 70% Střední Morava 19,300 70% Poorest Severozápad 17,200 63%  Denmark 34,200 125% Richest Hovedstaden 43,000 157% Syddanmark 30,700 112% Midtjylland 30,600 112% Nordjylland 29,300 107% Poorest Sjælland 23,400 85%  Estonia 20,900 76%  Finland 30,300 110% Richest Helsinki-Uusimaa 39,600 144% Åland 37,900 138% Länsi-Suomi 27,200 99% Etelä-Suomi 26,700 97% Poorest Pohjois-Suomi 25,000 91%  France 29,300 107% Richest Île-de-France 49,000 178% Rhône-Alpes 29,100 106% Provence-Alpes-Côte d'Azur 28,000 102% Alsace 26,700 97% Midi-Pyrénées 26,500 96% Pays de la Loire 26,200 95% Champagne-Ardenne 25,700 94% Aquitaine 25,300 92% Upper Normandy 25,600 93% Burgundy 24,600 90% Corsica 24,500 89% Brittany 24,300 88% Centre 24,300 88% Poitou-Charentes 23,900 87% Auvergne 23,400 85% Lower Normandy 23,400 85% Nord-Pas-de-Calais 23,400 85% Languedoc-Roussillon 22,100 81% Limousin 22,000 80% Lorraine 21,800 79% Picardy 21,600 78% Franche-Comté 21,200 77% Martinique 21,200 77% Guadeloupe 20,100 73% Réunion 19,200 66% French Guiana 16,000 58% Poorest Mayotte 8,400 31%  Germany 34,500 126% Richest Hamburg 56,600 206% Oberbayern 49,100 179% Darmstadt 44,700 163% Stuttgart 44,400 162% Bremen 44,100 161% Karlsruhe 38,600 140% Braunschweig 37,500 136% Tübingen 37,300 136% Mittelfranken 37,200 135% Düsseldorf 36,900 134% Köln 36,400 132% Oberpfalz 35,200 128% Unterfranken 34,800 127% Schwaben 34,300 125% Freiburg 33,600 122% Detmold 33,500 122% Hannover 33,400 121% Niederbayern 33,400 121% Berlin 32,800 119% Rheinhessen-Pfalz 32,600 119% Saarland 32,600 119% Kassel 32,400 118% Oberfranken 31,300 114% Arnsberg 31,000 113% Weser-Ems 30,400 111% Münster 29,900 109% Koblenz 29,300 107% Gießen 29,900 109% Schleswig-Holstein 28,700 104% Leipzig 28,200 103% Trier 27,200 99% Dresden 26,000 95% Brandenburg 24,300 88% Lüneburg 24,200 88% Thüringen 24,200 88% Chemnitz 24,000 87% Sachsen-Anhalt 23,900 87% Poorest Mecklenburg-Vorpommern 23,200 84%  Greece 19,900 72% Richest Αττικής – Attica 27,100 99% Νοτίου Αιγαίου – South Aegean 22,000 80% Ιονίων Νησιών – Ionian Islands 18,400 67% Δυτικής Μακεδονίας – West Macedonia 18,100 66% Κρήτη – Crete 17,300 63% Στερεά Ελλάδα – Central Greece 16,900 61% Πελοποννήσου – Peloponnese 15,900 58% Δυτική Ελλάδα – West Greece 14,800 54% Βορείου Αιγαίου – North Aegean 15,700 57% Κεντρικής Μακεδονίας – Central Macedonia 15,300 56% Θεσσαλίας – Thessaly 15,100 55% Ηπείρου – Hepirus 14,000 51% Poorest Ανατολικής Μακεδονίας και Θράκης – East Macedonia and Thrace 13,700 50%  Hungary 18,600 68% Richest Közép Magyarország 29,500 107% Nyugat Dunántúl 19,500 71% Közép Dunántúl 16,800 61% Dél Alföld 13,000 47% Dél Dunántúl 12,400 45% Észak Alföld 11,800 43% Poorest Észak Magyarország 11,600 42%  Ireland 36,800 134% Richest Southern and Eastern 41,300 150% Poorest Border, Midland and Western 24,300 88%  Italy 26,400 96% Richest South Tyrol 39,700 144% Valle d’Aosta 36,500 133% Lombardy 34,700 126% Trentino 33,700 123% Emilia–Romagna 32,200 117% Lazio 31,400 114% Veneto 29,800 108% Liguria 28,700 104% Tuscany 28,700 104% Friuli-Venezia Giulia 27,800 101% Piedmont 27,600 100% Marche 25,300 92% Umbria 24,000 87% Abruzzo 23,100 84% Molise 20,500 75% Sardinia 19,900 72% Basilicata 19,000 69% Apulia 17,200 63% Sicily 17,000 62% Campania 16,700 61% Poorest Calabria 16,100 59%  Latvia 17,500 64%  Lithuania 20,600 75%  Luxembourg 73,000 266%  Malta 23,600 86%  Netherlands 35,900 131% Richest Groningen 44,800 163% Noord-Holland 44,300 161% Utrecht 42,400 154% Noord-Brabant 36,900 134% Zuid-Holland 36,100 131% Gelderland 30,100 110% Limburg 30,000 109% Overijssel 29,300 107% Flevoland 27,400 100% Zeeland 27,400 100% Drenthe 25,800 94% Poorest Friesland 25,600 93%  Poland 18,600 68% Richest Mazowieckie 29,800 108% Dolnośląskie 20,800 76% Wielkopolskie 20,000 73% Śląskie 19,300 70% Pomorskie 17,700 64% Łódzkie 17,400 63% Małopolskie 16,600 60% Lubuskie 15,600 57% Zachodniopomorskie 15,600 57% Kujawsko-Pomorskie 15,100 55% Opolskie 15,000 55% Świętokrzyskie 13,500 49% Podlaskie 13,400 49% Warmińsko-Mazurskie 13,300 48% Podkarpackie 13,200 48% Poorest Lubelskie 13,000 47%  Portugal 21,400 78% Richest Lisboa 29,300 106% Algarve 21,300 78% Madeira 20,200 73% Açores 19,400 71% Alentejo 19,300 70% Centro 18,500 67% Poorest Norte 17,800 65%  Romania 15,200 55% Richest Bucureşti – Ilfov 35,600 129% Vest 15,800 58% Centru 14,200 52% Sud-Est 13,600 50% Nord-Vest 13,100 48% Sud – Muntenia 11,900 43% Sud-Vest Oltenia 11,200 41% Poorest Nord-Est 9,200 34%  Slovakia 21,100 77% Richest Bratislavský kraj 51,200 186% Západné Slovensko 19,800 72% Stredné Slovensko 16,700 61% Poorest Východné Slovensko 14,600 53%  Slovenia 21,800 82% Richest Zahodna Slovenija 27,000 98% Poorest Vzhodna Slovenija 18,800 68%  Spain 25,000 91% Richest Madrid 34,300 125% Basque Country 32,700 119% Navarre 30,900 113% Catalonia 29,700 108% Aragón 27,600 100% La Rioja 27,500 100% Islas Baleares 26,200 96% Castilla y León 23,500 86% Cantabria 22,600 82% Asturias 22,000 80% Comunidad Valenciana 22,000 80% Galicia 22,000 80% Islas Canarias 21,500 78% Ceuta 20,900 76% Murcia 20,500 74% Castilla-La Mancha 19,700 72% Andalucía 18,500 67% Melilla 18,700 68% Poorest Extremadura 17,300 63%  Sweden 33,700 123% Richest Stockholm 47,200 172% Övre Norrland 32,200 121% Västsverige 31,300 114% Mellersta Norrland 29,400 107% Östra Mellansverige 29,000 106% Sydsverige 28,800 105% Småland med öarna 28,500 104% Poorest Norra Mellansverige 27,200 99%  United Kingdom 29,900 109% Richest Inner London West 148,000 539% Inner London East 56,100 204% North Eastern Scotland 44,900 164% Berkshire, Buckinghamshire & Oxfordshire 41,100 149% Cheshire 33,900 123% Outer London West & North West 33,300 121% Surrey, East & West Sussex 31,600 115% Bedfordshire & Hertfordshire 30,900 113% Gloucestershire, Wiltshire & Bristol 30,800 112% Hampshire & Isle of Wight 30,700 112% East Anglia 27,700 101% Eastern Scotland 27,200 99% Outer London South 27,100 98% North Yorkshire 26,800 98% Herefordshire, Worcestershire & Warwickshire 26,700 97% Leicestershire, Rutland & Northamptonshire 26,400 96% Cumbria 25,900 94% Highlands & Islands 25,600 93% Greater Manchester 25,200 92% South Western Scotland 25,000 91% West Yorkshire 25,000 91% East Wales 24,800 90% Dorset & Somerset 24,700 90% Essex 24,300 88% Kent 24,100 88% Derbyshire & Nottinghamshire 24,000 87% West Midlands 23,700 86% Devon 23,500 85% Northumberland and Tyne & Wear 23,000 84% Lancashire 22,500 82% Shropshire & Staffordshire 22,500 82% Northern Ireland 22,400 82% Outer London East & North East 22,400 81% Merseyside 22,300 81% East Yorkshire & Northern Lincolnshire 22,200 81% South Yorkshire 20,900 76% Cornwall & Isles of Scilly 20,700 75% Lincolnshire 20,100 76% Tees Valley & Durham 20,500 74% Poorest West Wales & The Valleys 18,900 69%

Richest and poorest NUTS-1 regions (GDP PPP 2014) Member state Region GDP per capita in euros As % of EU-28 average  European Union 27,500 100.0%  Austria 35,500 129% Richest Westösterreich 37,800 138% Ostösterreich 35,600 130% Poorest Südösterreich 31,200 114%  Belgium 31,600 119% Richest Bruxelles-Cap., Brussels Hfdst. 57,000 207% Vlaams Gewest 33,000 120% Poorest Région Wallonne 23,700 86%  Bulgaria 12,800 47% Richest Yugozapadna i Yuzhna Tsentralna Bulgaria 15,800 57% Poorest Severna i Iztochna Bulgaria 9,900 36%  Croatia 16,100 59%  Cyprus 22,400 82%  Czech Republic 23,200 84%  Denmark 34,200 125%  Estonia 20,900 76%  Finland 30,300 110% Richest Åland 37,900 138% Poorest Manner-Suomi 30,300 110%  France 29,300 107% Richest Île-de-France 49,000 178% Centre-est 28,100 102% Méditerranée 25,800 94% Sud-ouest 25,400 93% Ouest 25,000 91% Bassin parisien 24,100 88% Est 23,400 85% Nord-Pas-de-Calais 23,400 85% Poorest Départements d'Outre-Mer 18,200 66%  Germany 34,500 126% Richest Hamburg 56,600 206% Bremen 44,100 161% Bavaria 39,700 145% Hesse 39,700 145% Baden-Württemberg 39,500 144% Nordrhein-Westfalen 34,200 124% Berlin 32,800 119% Saarland 32,600 119% Niedersachsen 31,300 114% Rheinland-Pfalz 30,700 112% Schleswig-Holstein 28,700 104% Sachsen 25,800 94% Brandenburg 24,300 88% Thüringen 24,200 88% Sachsen-Anhalt 23,900 87% Poorest Mecklenburg-Vorpommern 23,200 84%  Greece 19,900 72% Richest Attica 27,100 99% Aegean Islands, Crete 18,400 67% Central Greece 15,800 57% Poorest Northern Greece 15,100 55%  Hungary 18,600 68% Richest Közép Magyarország 29,500 107% Dunántúl 16,400 60% Poorest Alföld és Észak 12,200 44%  Ireland 36,800 134%  Italy 26,400 96% Richest Northwest 32,200 117% Northeast 31,100 113% Central 29,200 106% Insular 17,700 64% Poorest South 17,500 64%  Latvia 17,500 64%  Lithuania 20,600 75%  Luxembourg 73,000 266%  Malta 23,600 86%  Netherlands 35,900 131% Richest West-Nederland 39,500 144% Zuid-Nederland 34,700 126% Noord-Nederland 32,100 117% Poorest Oost-Nederland 29,600 108%  Poland 18,600 68% Richest Region Centralny 25,800 94% Region Południowo-Zachodni 19,300 70% Region Południowy 18,100 66% Region Północno-Zachodni 18,000 66% Region Północny 15,700 57% Poorest Region Wschodni 13,200 48%  Portugal 21,400 78% Richest Continental 21,500 78% Madeira 20,200 73% Poorest Açores 19,400 71%  Romania 15,200 55% Richest Macroregiunea Trei 22,000 80% Macroregiunea Unu 13,600 50% Macroregiunea Patru 13,400 49% Poorest Macroregiunea Doi 11,300 41%  Slovakia 21,100 77%  Slovenia 22,600 82%  Spain 25,000 91% Richest Madrid 34,300 125% Northeast 30,600 111% East 26,600 97% Northwest 22,100 80% Canaries 21,500 78% Centre 20,900 76% Poorest South 18,800 69%  Sweden 33,700 123% Richest Östra Sverige 39,500 144% Södra Sverige 30,400 111% Poorest Norra Sverige 28,900 105%  United Kingdom 29,900 109% Richest London 51,200 186% South East (England) 32,400 118% East of England 27,700 101% Scotland 27,700 101% South West (England) 26,800 97% North West (England) 25,200 92% East Midlands (England) 24,600 90% West Midlands (England) 24,100 88% Yorkshire & the Humber 23,800 87% Northern Ireland 22,400 82% North East (England) 21,800 80% Poorest Wales 21,100 77%

Source: Eurostat^[25]

See also

• Currencies of the European Union
• European Investment Bank
• European Union value added tax
• List of largest European companies by revenue

References

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6. "EU budget myths". EC Europa. European Commission. Retrieved 15 September 2014.
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11. "General government gross debt - annual data". Eurostat. Retrieved 21 April 2016.
12. "Government deficit, excluding support for financial institutions". Eurostat. Retrieved 21 April 2016.
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14. "Total unemployment rate". Eurostat. Retrieved 4 April 2016.
15. "2020_REPORT" (PDF). Retrieved 26 April 2011.
16. "Eurostat – Tables, Graphs and Maps Interface (TGM) table". Epp.eurostat.ec.europa.eu. 11 March 2011. Retrieved 4 April 2016.
17. "Eurostat – Tables, Graphs and Maps Interface (TGM) table". Epp.eurostat.ec.europa.eu. 29 June 2015. Retrieved 24 November 2015.
18. "Central Intelligence Agency". Cia.gov. Retrieved 26 April 2011.
19. "World trade report 2009" (PDF). WTO information website.
20. Se-jeong, Kim (19 July 2009). "EU-Korea FTA Will Be a Long Process: Greek Ambassador". The Korea Times. Retrieved 15 August 2009.
21. http://trade.ec.europa.eu/doclib/docs/2006/september/tradoc_122530.pdf
22. "Extra-EU27 trade, by main partners, total product". Epp.eurostat.ec.europa.eu. 2013-10-17. Retrieved 2014-05-20.
23. http://epp.eurostat.ec.europa.eu/cache/ITY_PUBLIC/3-08012014-BP/EN/3-08012014-BP-EN.PDF
24. "Eurostat - Data Explorer". europa.eu.
25. Eurostat (26 February 2016). "Twenty-one regions below half of the EU average…" (PDF). Europa web portal. Retrieved 26 February 2016.

• ^ Cells shaded in green indicate forecast figure
• ^ One region may be classified by Eurostat as a NUTS-1, NUTS-2 as well as a NUTS-3 region. Several NUTS-1 regions are also classified as NUTS-2 regions such as Brussels-Capital or Ile-de-France. Many countries are only classified as a single NUTS-1 and a single NUTS-2 region such as Latvia, Lithuania, Luxemburg and (although over 3 million inhabitants) Denmark.
• "Euro-indicators News release" (PDF). June 2005 inflation data. Retrieved 18 July 2005.
• "Euro-indicators News release" (PDF). May 2005 unemployment data. Retrieved 18 July 2005.
• "World Bank". GNI data (July 2005). Retrieved 4 August 2005.

The following links are used for the GDP growth and GDP totals (IMF):

• Link to 10 new memberstates Growth Rates
• Link to Growth Rates for the Eurozone
• Link to non-Eurozone EU15 countries Growth Rates

External links

• European Commission – Economic and Financial Affairs
• Eurostat – Statistics Explained – All articles on economy and finance