Economy of the European Union

Template:Infobox Economy of the European Union The economy of the European Union generates a GDP of over €12.894 trillion (US$16.566 trillion in 2012) according to Eurostat, which makes it the largest economy in the world. 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

Main articles: Euro and Eurozone

The official currency of the European Union is the euro used in all its documents and policies. The Stability and Growth Pact sets out the fiscal criteria to maintain for stability and (economic) convergence. The euro is also the most widely used currency in the EU, which is in use in 18 member states known as the Eurozone.

All other member states, apart from Denmark and the United Kingdom, which have special opt-outs, have committed to changing over to the euro once they have fulfilled the requirements needed to do so. 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.

Budget

Further information: Budget of the European Union

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

Economic variation

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, sorted by GDP (PPP). This can 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 euro.

Member states	GDP 2012 millions of euro	Population in millions	GDP (PPP) per capita 2012 euro	GDP (Nominal) per capita 2012 euro	GDP (PPP) per capita 2012 EU27 = 100	Eurozone yes/no
European Union	12,971,122	505.7	25,500	25,600	100%
Germany	2,666,400	80.5	31,300	32,600	123%	yes
United Kingdom	2,378,312	63.9	28,300	30,500	106%	no
France	2,333,297	65.6	27,500	31,100	109%	yes
Italy	1,567,010	59.7	25,200	25,700	101%	yes
Spain	1,029,002	46.7	24,400	22,300	96%	yes
Netherlands	599,338	16.8	32,800	35,800	128%	yes
[[|]]	407,820	9.6	32,700	42,800	126%	no
Poland	381,204	38.5	16,800	9,900	67%	no
Belgium	375,881	11.2	30,400	34,000	120%	yes
Austria	307,003	8.5	33,300	36,400	130%	yes
Sweden	5.6	32,100	43,800	126%	no
Greece	193,749	11.1	19,200	17,200	75%	yes
Finland	192,541	5.4	29,100	35,600	115%	yes
Portugal	165,107	10.5	19,200(p)	15,600	76%	yes
Ireland	163,938	4.6	33,200	35,700	129%	yes
Czech Republic	152,926	10.5	20,300	14,500	81%	no
Romania	131,747	20.1	12,500	6,200	50%	no
Hungary	96,968	9.9	16,700	9,800	67%	no
Slovakia	71,096	5.4	19,100	13,200	76%	yes
Croatia	43,904	4.3	15,600	10,300	62%	no
Luxembourg	42,899	0.5	67,100	83,600	263%	yes
Bulgaria	39,668	7.3	12,100	5,400	47%	no
Slovenia	35,319	2.1	20,900	17,200	84%	yes
Lithuania	32,940	3.0	17,900	11,000	72%	no
Latvia	22,257	2.0	15,900	10,900	64%	yes
Cyprus	17,887	0.9	23,500(p)	20,700(p)	92%	yes
Estonia	17,415	1.3	18,000	13,000	71%	yes
Malta	6,851	0.4	22,100	16,300	86%	yes

EU Candidates	GDP 2012 millions of euro	Population in millions	GDP (PPP) per capita 2012 euro	GDP (Nominal) per capita 2012 euro	GDP (PPP) per capita 2011 perc. of EU27	Eurozone yes/no
Iceland	10,627	0.3	28,500	32,900	113%	no
Turkey	612,412	75.6	13,100(2011)	7,500(2011)	56%	no
Macedonia	7,707	2.1	8,900(2011)	3,600(2011)	35%	no
Montenegro		0.6			43%	no
Serbia	34,740	7.2	8,700(2011)	4,300(2011)	35%	no

Current EU applicants	GDP 2010 millions of euro	Population in millions	GDP (PPP) per capita 2011 euro	GDP (Nominal) per capita 2009 euro	GDP (PPP) per capita 2011 perc. of EU27	Eurozone yes/no
Albania	8,975	3.2	7,800(e)	2,803	30%	no
Bosnia & Herzegovina		3.8	7,300		28%	no

EFTA members	GDP 2012 millions of euro	Population in millions	GDP (PPP) per capita 2012 euro	GDP (Nominal) per capita 2012 euro	GDP (PPP) per capita 2011 perc. of EU27	Eurozone yes/no
Norway	390,008	5.1	49,900	77,500	195%	no
Switzerland	491,987	8.1	40,800	61,900	160%	no

p: provisional value
e: estimated value
Source: GDP Millions of PPS:EUROSTAT, GDP(PPP) per inhabitant: EUROSTAT, GDP per capita in PPS :EUROSTAT, GDP per capita expressed in PPS in percentage of EU (2011): EUROSTAT

Past and future GDP at market prices (millions of euro)[nb 1]

2007 2008 2009 2010 2011 2012 2013 European Union 12,397,498.0 12,466,896.5 11,752,175.4 12,256,226.4 12,649,146.5 12,957,700.3 13,381,221.5 Member states Austria 274,019.8 282,746.0 274,818.2 286,197.3 300,891.3 310,133.3 322,190.4 Belgium 335,610.0 346,130.0 340,398.0 354,378.0 370,436.4 381,779.9 396,273.8 Bulgaria 30,772.4 35,430.5 34,932.8 36,033.5 38,989.9 - - Croatia 43,380.4 47,760.2 45,666.1 45,899.2 46,021.6 46,781.0 48,175.2 Cyprus 15,901.5 17,157.1 16,853.5 17,333.6 17,928.6 18,409.6 19,167.5 Czech Republic 131,908.6 154,269.7 141,449.8 149,313.3 157,538.3 155,688.8 160,030.9 Denmark 227,533.9 235,133.0 223,985.3 235,608.6 241,148.1 249,122.9 258,155.3 Estonia 16,069.4 16,304.2 13,839.6 14,305.3 16,011.6 17,006.0 18,163.9 Finland 179,830.0 185,651.0 173,267.0 180,253.0 190,257.4 198,251.5 206,115.5 France 1,886,792.1 1,933,195.0 1,889,231.0 1,932,801.5 1,987,699.4 2,027,969.8 2,092,928.4 Germany 2,428,500.0 2,473,800.0 2,374,500.0 2,476,800.0 2,570,000.0 2,626,427.9 2,705,181.1 Greece 222,771.1 232,920.3 231,642.0 227,317.9 217,828.8 212,139.9 214,309.2 Hungary 99,430.5 105,545.1 91,402.5 97,094.8 99,285.5 95,398.7 100,059.5 Ireland 189,932.9 179,989.8 160,595.9 155,992.3 156,109.2 158,864.9 164,621.6 Italy 1,554,198.9 1,575,143.9 1,526,790.4 1,556,028.6 1,586,209.0 1,617,154.7 1,660,133.6 Latvia 21,026.5 22,889.8 18,521.3 17,974.8 19,605.9 20,701.6 21,888.0 Lithuania 28,738.8 32,461.7 26,654.4 27,607.5 30,806.9 32,781.8 34,545.2 Luxembourg 37,490.5 39,436.5 37,392.6 40,266.9 41,778.3 42,893.0 45,035.9 Malta 5,434.3 5,814.6 5,812.7 6,154.2 6,440.0 6,690.0 7,008.3 Netherlands 571,773.0 594,481.0 571,145.0 588,414.0 607,435.2 622,714. 639,563.6 Poland 311,001.7 363,153.7 310,418.2 354,310.0 369,318.3 355,346.3 372,417.2 Portugal 169,319.2 171,983.1 168,503.6 172,571.2 171,632.4 168,286.4 172,647.7 Romania 124,728.5 139,765.4 118,196.0 124,058.9 131,527.8 136,278.1 147,800.8 Slovakia 54,810.8 64,500.1 62,895.5 65,887.4 69,944.5 71,614.0 75,123.1 Slovenia 34,562.3 37,279.5 35,310.6 35,415.8 36,446. 38,018.4 Spain 1,053,161.0 1,087,749.0 1,047,831.0 1,051,342.0 1,074,940.5 1,094,290. 1,123,495.9 Sweden 337,944.2 333,255.7 291,347.0 346,536.4 386,201.6 396,188.4 409,582.5 United Kingdom 2,054,237.7 1,800,710.8 1,564,467.9 1,706,301.9 1,747,315.6 1,862,190.7 1,931,407.6 Candidate countries Macedonia 5,966.5 6,692.6 6,702.4 6,948.1 7,275.8 7,743.6 8,386.1 Turkey 479,209.1 506,431.9 440,367.3 552,842.4 546,713.3 566,640.2 620,400.7 EFTA countries Iceland 14,932.4 10,303.7 8,673.7 9,494.8 10,080.4 10,713.4 11,346.1 Norway 287,712.2 311,284.9 270,010.7 315,233.8 343,998.3 364,416.8 383,818.3 Switzerland 317,222.0 343,346.1 354,734.9 398,877.5 477,197.4 502,272.1 521,523.8 Main economic partners USA 10,236,191.2 9,716,820.8 9,993,547.5 10,957,607.3 10,831,809.8 11,822,419.8 12,148,404.6 Japan 3,197,025.7 3,308,478.8 3,613,140.2 4,122,481.1 4,285,853.3 4,735,371.4 4,785,085.4

Economies of member states

GDP per capita in 2012

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. However, 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).

The following table shows information relating to the member states of the European Union, ordered according to the 'Size' of their economies. (NB: Were the table ordered according to 'GDP per capita' this would perhaps better reflect the strength of an individual economy. But this is not how such tables are commonly structured.) The colours denote how a member state is performing relative to the rest of the European Union, above average (green) or below average (red). The smallest and greatest values in each column are emphasised.

The data for GDP and GDP per capita (PPP) are based on the World Economic Outlook, October 2013 (International Monetary Fund).

Member State sorted by GDP	GDP in billions of USD (2012)	GDP % of EU (2012)	Annual change  % of GDP (2012)	GDP per capita in PPP US$ (2012)	Public Debt % of GDP (2013 Q3)	Deficit (-)/ Surplus (+) % of GDP (2012)	Inflation % Annual (2012)	Unemp. % 2013 M12
European Union	16,673.3	100.0	−0.3	31,571	86.8	−3.9	2.6	10.8
Germany	3,429.5	20.6%	0.7	38,666	78.4	0.1	2.1	5.0
France	2,613.9	15.7%	0.0	35,295	92.7	−4.8	2.2	10.9
United Kingdom	2,446.7	14.7%	0.3	36,569	89.1	−6.1	2.8	7.2
Italy	2,014.1	12.1%	−2.4	29,812	132.9	−3.0	3.3	12.9
Spain	1,323.5	7.9%	−1.4	30,058	93.4	−10.6	2.4	25.8
Netherlands	770.9	4.6%	−1.0	41,527	73.6	−4.1	2.8	7.1
Sweden	523.8	3.1%	0.8	40,304	40.7	−0.2	1.0	8.2
Poland	489.8	2.9%	1.9	20,562	58.0	−3.9	3.7	9.9
Belgium	483.9	2.9%	−0.2	37,459	103.7	−4.0	2.6	8.5
Austria	394.9	2.4%	0.8	41,908	77.1	−2.5	2.6	4.9
Denmark	314.9	1.9%	−0.5	37,324	46.3	−4.1	2.4	7.0
Greece	249.2	1.5%	−6.4	24,260	171.8	−9.0	1.0	28.0
Finland	247.6	1.5%	−0.2	35,771	54.8	−1.8	3.2	8.3
Portugal	212.4	1.3%	−3.2	23,047	128.7	−6.4	2.8	15.3
Ireland	210.9	1.3%	0.9	40,716	124.8	−8.2	1.9	11.9
Czech Republic	195.7	1.2%	−1.3	27,000	46	−4.4	3.5	6.8
Romania	169.4	1.0%	0.7	12,722	38.9	−3.0	3.4	7.3
Hungary	125.7	0.8%	−1.7	19,497	80.2	−2.0	5.7	8.8
Slovakia	91.9	0.6%	2.0	24,142	57.2	−4.5	3.7	13.6
Luxembourg	57.1	0.3%	0.3	77,958	27.7	−0.6	2.9	6.1
Bulgaria	51.0	0.3%	0.8	14,103	17.3	−0.8	2.4	13.1
Slovenia	45.4	0.3%	−2.3	27,837	62.6	−3.8	2.8	10.2
Lithuania	42.1	0.3%	3.7	21,383	39.6	−3.2	3.2	11.3
Latvia	28.4	0.2%	5.6	18,058	38	−1.3	2.3	11.5
Cyprus	23.0	0.1%	−2.4	26,794	109.6	−6.4	3.1	16.8
Estonia	22.4	0.1%	3.2	21,714	10.0	−0.2	4.2	9.3
Malta	8.8	0.1%	0.8	26,857	76.6	−3.3	3.2	6.9

Economic growth

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

The EU's share of Gross world product (GWP) is stable at around one fifth.

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 massive 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-2000's recession).

Reasons for this massive growth include government commitments to stable monetary policy, export-oriented trade policies, low flat-tax rates and the utilisation of relatively cheap labour. For the last year (2011), Estonia had the highest GDP growth from all the states in EU (7,6%). 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 EU27 GDP is on the increase, the percentage of Gross world product is decreasing due to the emergence of economic powers such as China, India and Brazil. In the medium to long term, the EU will be looking forward to increase GDP growth in Italy and the UK to stabilise growth in European Union states. This is to ensure sustained economic prosperity.

EU Member States GDP growth rates

Member State	2005	2006	2007	2008	2009	2010	2011	2012	2013	2005 – 2012
Austria	2.4	3.7	3.7	1.4	−3.8	1.8	2.8	0.9		12.9
Belgium	1.8	2.7	2.9	1.0	−2.8	2.3	1.8	−0.1	0.2	9.6
Bulgaria	6.4	6.5	6.4	6.2	−5.5	0.4	1.8	0.8		23.0
Croatia	4.2	4.9	5.1	2.1	−6.9	-2.3	0.0	-2.0	-0.7	5.1
Cyprus	3.9	4.1	5.1	3.6	−1.9	1.3	0.4	−2.4		14.1
Czech Republic	6.8	7.0	5.7	3.1	−4.5	2.5	1.8	−1.0	-1.1	21.4
Denmark	2.4	3.4	1.6	−0.8	−5.7	1.6	1.1	−0.4		3.2
Estonia	8.9	10.1	7.5	−4.2	−14.1	2.6	9.6	3.9	0.7	24.3
Finland	2.9	4.4	5.3	0.3	−8.5	3.4	2.7	−0.8		9.7
France	1.9	2.7	2.3	−0.1	−3.1	1.7	2.0	0.0	0.3	7.4
Germany	0.7	3.7	3.3	1.1	−5.1	4.0	3.3	0.7	0.4	11.7
Greece	2.3	5.5	3.5	−0.2	−3.1	−4.9	−7.1	−6.4		−10.4
Hungary	4.0	3.9	0.1	0.9	−6.8	1.1	1.6	−1.7		3.1
Ireland	6.1	5.5	5.0	−2.2	−6.4	−1.1	2.2	0.2	0.5	9.3
Italy	0.9	2.2	1.7	−1.2	−5.5	1.7	0.5	−2.5		−2.2
Latvia	10.1	11.0	10.0	−2.8	−17.7	−1.3	5.3	5.0	4.0	19.6
Lithuania	7.8	7.8	9.8	2.9	−14.8	1.6	6.0	3.7	3.4	24.8
Luxembourg	5.3	4.9	6.6	−0.7	−5.6	3.1	1.9	-0.2		15.3
Malta	3.6	2.6	4.1	3.9	−2.8	4.0	1.6	0.8		17.8
Netherlands	2.0	3.4	3.9	1.8	−3.7	1.5	0.9	−1.2		8.6
Poland	3.6	6.2	6.8	5.1	1.6	3.9	4.5	1.9	1.6	33.6
Portugal	0.8	1.4	2.4	0.0	−2.9	1.9	−1.3	−3.2	−1.4	−0.9
Romania	4.2	7.9	6.3	7.3	−6.6	−1.1	2.2	0.7	3.5	20.9
Spain	3.6	4.1	3.5	0.9	−3.8	−0.2	0.1	−1.6	−1.2	6.6
Slovakia	6.7	8.3	10.5	5.8	−4.9	4.4	3.0	1.8		35.6
Slovenia	4.0	5.8	7.0	3.4	−7.9	1.3	0.7	−2.5		11.8
Sweden	3.2	4.3	3.3	−0.6	−5.0	6.6	2.9	1.0		15.7
United Kingdom	3.2	2.8	3.4	−0.8	−5.2	1.7	1.1	0.1	1.9	6.3
European Union	2.1	3.3	3.2	0.3	−4.3	2.1	1.6	−0.3	0.1	8
Eurozone	1.7	3.2	3.0	0.4	−4.4	2.0	1.4	−0.6	-0.4	6.7

Energy resources

Main article: Energy policy of the European Union

The European Union has large coal, oil, and natural gas reserves. There are six oil producers in the European Union, primarily in North Sea oilfields. The United Kingdom by far is the largest producer, however 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 seventh largest producer of oil in the world, producing 3,424,000 (2001) barrels a day.

It is also the world's second largest consumer of oil, consuming much more than it can produce, at 14,590,000 (2001) 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

Further information: List of the largest trading partners of the European Union

  EU

  Top 10 trading partners (2010)

  Top 11–20 trading partners (2010)

EU imports, exports and balance of trade in goods from 2007 to 2012 (in billions of euro)

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

The European Union is the largest exporter in the world and as of 2008 the largest importer of goods and services. 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.

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.

Main trading partners(2012)

Rank Partners 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% 1 United States 205,778 11.5% 291,880 17.3% 497,658 14,3% 2 China 289,915 16,2% 143,874 8,5% 433,789 12,5% 3 Russia 213,212 11,9% 123,262 7,3% 336,474 9,7% 4 Switzerland 104,544 5.8% 133,341 7.9% 237,885 6,8% 5 Norway 100,437 5,6% 49,821 3.0% 150,258 4,3% 6 Turkey 47,789 2,7% 75,172 4,5% 122,961 3,5% 7 Japan 63,813 3.6% 55,490 3,3% 119,303 3,4% 8 Brazil 37,090 2,1% 39,595 2,3% 76,685 2,2% 9 India 37,295 2.1% 38,468 2,3% 75,764 2.2% 10 South Korea 37,861 2,1% 37,763 2,2% 75,624 2,2% 11 Saudi Arabia 34,594 1.9% 29,985 1,8% 64,580 1,9% 12 Canada 30,514 1,5% 31,291 1,9% 61,805 1,8% 13 Algeria 32,597 1,8% 21,008 1,2% 53,605 1,5% 14 Singapore 21,517 1,2% 30,342 1,8% 51,859 1,5% 15 Australia 14,479 0,8% 33,845 2,0% 48,324 1,4% 16 Mexico 19,364 1,1% 27,920 1,7% 47,284 1,4% 17 South Africa 20,545 1,1% 26,622 1,6% 47,167 1,4% 18 United Arab Emirates 8,294 0,5% 37,119 2,2% 45,413 1,3% 19 Nigeria 32,937 1,8% 11,444 0,7% 44,382 1,3% 20 Hong Kong 10,546 0,6% 33,655 2,2% 44,201 1,3% 21 Libya 32,771 1,8% 6,375 0,4% 39,145 1,1% 22 Ukraine 14,588 0,8% 23,795 1,4% 38,383 1,1% 23 Taiwan 22,524 1,3% 15,797 0,9% 38,321 1,1% 24 Malaysia 20,342 1.1% 14,530 0,9% 34,872 1,0% 25 Thailand 16,924 0,9% 14,799 0,9% 31,723 0,9% 26 Kazakhstan 24,413 1,4% 6,912 0,4% 31,325 0,9% 27 Israel 12,634 0,7% 17,023 1,0% 29,657 0,9% 28 Morocco 9,134 0,5% 16,938 1,0% 26,072 0,7% 29 Indonesia 15,396 0,9% 9,648 0,6% 25,044 0,7% 30 Egypt 8,461 0,5% 15,413 0,9% 23,874 0,7% 31 Vietnam 18,514 1,0% 5,351 0,3% 23,865 0,7% 32 Tunisia 9,515 0,5% 11,083 0,7% 20,599 0,6% 33 Argentina 9,926 0,6% 8,558 0,5% 18,483 0,5% 34 Chile 9,634 0,5% 8,486 0,5% 18,120 0,5% 35 Iraq 12,758 0,7% 4,653 0,3% 17,412 0,5% 36 Azerbaijan 13,852 0,8% 2,945 0,2% 16,796 0,5% 37 Croatia 5,471 0,3% 11,194 0,7% 16,664 0,5% 38 Qatar 10,151 0,6% 5,965 0,4% 16,115 0,5% 39 Colombia 8,591 0,5% 5,542 0,3% 14,133 0,4% 40 Serbia 4,712 0,3% 9,117 0,5% 13,829 0,4% 41 Angola 7,095 0,4% 6,200 0,4% 13,296 0,4% 42 Iran 5,527 0,3% 7,356 0,4% 12,883 0,4% 43 Belarus 4,542 0,3% 7,839 0,5% 12,382 0,4% 44 Venezuela 4,510 0,3% 6,533 0,4% 11,043 0,3% 45 Bangladesh 9,212 0,5% 1,533 0,1% 10,745 0,3% 46 Kuwait 5,864 0,3% 4,532 0,3% 10,396 0,3% 47 Philippines 5,128 0,3% 4,791 0,3% 9,919 0,3% 48 Gibraltar 578 0,0% 9,233 0,5% 9,810 0,3% 49 Peru 6,294 0,4% 3,478 0,2% 9,772 0,3% 50 Pakistan 4,073 0,2% 4,101 0,2% 8,174 0,2%

Trade with partner country groupings(2012)

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	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-27 in March 2009

Unemployment rates in Europe's major economies.

The seasonally adjusted unemployment rate in the European Union (EU27) in March 2009 was 8.3% compared to 6.7% in March 2008. The Eurozone (EA16) unemployment figure for January 2009 was 8.2% compared to 7.3% in January 2008. The unemployment rate (EU25) had previously declined in prior years from 8.9% in March 2005 to 8.4% in March 2006 to 7.3% in March 2007.

The rate varies widely by member state. There has been a steep upturn in the unemployment rate since 2008 due to the worldwide credit crunch and following recession. The countries within the EU which were most affected were Spain, Ireland and the Baltic countries with the unemployment rate doubling or in case of the Baltic countries nearly tripling. By comparison in March 2009 the United States had an unemployment rate of 8.6% (2008: 5.1; 2007: 4.4; 2006: 4.7) which was higher than the EU-27's unemployment rate but lower than the EU-16 Eurozone rate of 8.9%. Japan's unemployment rate remained comparatively steady at 4.4% (2008: 3.9; 2007: 4.0; 2006: 4.1). The following tables show the current unemployment rate of all Member States for March 2009 with comparisons to March 2008, 2007, 2006 and 2005 and comparisons to the United States and Japan:

Unemployment	2005-03	2006-03	2007-03	2008-03	2009-03	2010-03	2011-03	2012-03
Austria	5.1	5.1	4.5	4.1	4.5	4.9	4.4	4.2
Belgium	8.4	8.2	7.7	6.9	7.3	8.1	7.7	7.2
Denmark	5.4	4.3	4.1	3.0	5.7	7.6	7.5	7.7
Finland	8.5	7.9	7.0	6.3	7.4	9.0	8.0	7.6
France	9.7	9.1	8.6	7.6	8.8	10.1	9.5	10.1
Germany	9.8	8.7	8.6	7.4	7.6	7.3	6.2	5.6
Greece	9.9	9.6	8.6	7.8	7.8	10.2	13.8	22.1
Ireland	4.5	4.2	4.6	5.6	10.6	13.2	14.7	14.8
Italy	7.8	7.7	6.1	6.6	6.9	8.8	8.3	10.3
Luxembourg	4.3	4.8	4.9	4.4	6.1	5.6	4.3	5.0
Netherlands	4.9	4.0	3.4	2.8	2.8	4.1	4.2	5.0
Portugal	7.4	7.6	8.2	7.6	8.5	10.5	12.6	15.1
Spain	9.9	8.7	8.1	9.5	17.4	19.1	20.7	24.1
Sweden	6.3	7.2	6.6	5.8	8.0	8.7	7.7	7.3
United Kingdom	4.6	5.0	5.5	5.2	6.6	7.9	7.7	8.1
Bulgaria			7.5	6.1	5.9	8.7	11.4	12.1
Cyprus	5.1	5.2	4.1	3.7	4.9	6.7	7.3	10.7
Czech Republic	8.0	7.7	5.6	4.4	5.5	7.9	6.9	6.8
Estonia	8.8	5.3	4.9	4.0	11.1	15.5	14.3	10.6
Hungary	6.8	7.4	7.3	7.6	9.2	11.0	11.8	11.1
Latvia	9.1	7.6	6.4	6.1	16.1	22.3	16.2	15.4
Lithuania	9.2	6.4	4.6	4.3	15.1	15.8	16.3	13.6
Malta	7.2	8.1	6.6	5.8	6.7	6.9	6.3	6.1
Poland	18.0	16.8	10.3	7.4	7.7	9.1	9.3	9.9
Romania			6.6	6.2	5.8	7.6	7.0	7.2
Slovakia	16.7	15.7	11.3	9.9	10.5	14.1	14.0	13.7
Slovenia	6.4	6.2	5.2	4.5	5.0	6.2	8.1	8.1
European Union	8.9	8.4	7.3	6.7	8.3	9.6	9.5	10.3
United States	5.1	4.7	4.4	5.1	8.5	9.7	8.8	8.2
Japan	4.5	4.1	4.0	3.9	4.4	4.8	4.6	4.5

Industries

The services sector is by far the most important sector in the European Union, making up 69.4% of GDP, compared to the manufacturing industry with 28.4% of GDP and agriculture with only 2.3% of GDP.

Agriculture

The agricultural sector is supported by subsidies from the European Union in the form of the Common Agricultural Policy (CAP). This currently represents 40–50% of the EU's total spending. It used 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 third 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 second largest economy, is its most vocal proponent.

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 and the United Kingdom at 2nd, fifth and sixth spots respectively. It is worth noting however 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 and the highest in tourism receipts, before Paris.

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; 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.

Gini index

Further information: Gini coefficient

To date, one of the most commonly used measures of income inequality is the Gini index. The Gini coefficient measures income inequality on a scale from 0 to 1. On this scale 0 represents perfect equality with everyone having exactly the same income and 1 represents perfect inequality with one person having all income. According to the UN (UN), Gini index ratings for countries range from 0.247 in Denmark to 0.743 in Namibia. Most post-industrial nations had a Gini coefficient in the range 0.25 to 0.40. In 2005 the Gini index for the EU was estimated at 0.31 and as a comparison the USA had 0.463.

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

See also: List of countries by GDP (PPP) per capita, List of metropolitan areas in the European Union by GDP, and First level NUTS of the European Union

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 12 new member states that joined in May 2004 and January 2007. The leading regions in the ranking of NUTS-2 regional GDP per inhabitant in 2008 were Inner London in the United Kingdom (343% of the average), the Grand Duchy of Luxembourg (279%) and Bruxelles/Brussels in Belgium (216%). 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.").

Another example of artificial inflation is Groningen. The calculated GDP per capita is very high due to the large natural gas reserves in this region. However, Groningen is in fact one of the poorest parts in the Netherlands. Among the 40 NUTS-2 regions exceeding the 125% level, ten were in Germany, five in the Netherlands, four each in Austria and United Kingdom, three each in Spain and Italy, two each in Belgium and Finland, one each in the Czech Republic, Denmark, Ireland, France, Slovakia and Sweden, as well as the 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 [3]. 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-27 average
1.	Inner London	United Kingdom	80,300	328%
2.	Luxembourg	Luxembourg	65,200	266%
3.	Bruxelles-Cap., Brussels Hfdst.	Belgium	54,700	223%
4.	Hamburg	Germany	49,600	203%
5.	Île-de-France	France	44,200	180%
6.	Groningen	Netherlands	44,100	180%
7.	Bratislavský kraj	Slovakia	43,100	176%
8.	Praha	Czech Republic	42,200	172%
9.	Stockholm	Sweden	41,100	168%
10.	Vienna	Austria	40,300	165%

Rank	NUTS-1 Region	Member state	GDP per capita
			in Euros	As % of EU-27 average
1.	Luxembourg	Luxembourg	65,200	266%
2.	Bruxelles-Cap., Brussels Hfdst.	Belgium	54,700	223%
3.	Hamburg	Germany	49,600	203%
4.	London	United Kingdom	45,800	187%
5.	Île-de-France	France	44,200	180%
6.	Bremen	Germany	38,800	158%
7.	Hessen	Germany	34,800	142%
8.	West-Nederland	Netherlands	34,500	141%
9.	Östra Sverige	Sweden	34,400	141%
10.	Åland	Finland	33,500	137%
11.	Bayern	Germany	33,000	135%
12.	Ostösterreich	Austria	32,300	132%
13.	Westösterreich	Austria	32,300	132%
14.	Basque Country	Spain	32,200	132%
15.	Baden-Württemberg	Germany	32,000	131%
16.	Ireland	Ireland	31,600	129%
17.	Denmark	Denmark	31,300	128%
18.	Noord-Nederland	Netherlands	31,200	127%
19.	Zuid-Nederland	Netherlands	30,900	126%
20.	Nord Ovest	Italy	30,100	123%

Source: Eurostat

Economically weakest NUTS-2 regions

The twenty lowest regions in the ranking in 2008 were all in Bulgaria, Romania, Poland and Hungary, with the lowest figures recorded in Severozapaden in Bulgaria (27% of the average), followed by Nord-Est (29%) in Romania, Severen tsentralen in Bulgaria (29%) and Yuzhen tsentralen in Bulgaria (31%). Among the 64 regions below the 75% level, fifteen were in Poland, seven each in the Czech republic and Romania, six each in Bulgaria and Hungary, four each in Italy and Portugal, three each in Greece, France (all overseas departments) and Slovakia, two in the United Kingdom, one in Spain, as well as Estonia, Latvia and Lithuania.

Rank	NUTS-2 Region	Member state	GDP per capita
			in Euros	As % of EU-27 average
1.	Northwest region	Bulgaria	6,500	26%
2.	North Central	Bulgaria	7,000	29%
3.	Nord-Est	Romania	7,000	29%
4.	Yuzhen tsentralen	Bulgaria	7,500	30%
5.	Severoiztochen	Bulgaria	8,700	36%
6.	Yugoiztochen	Bulgaria	8,700	36%
7.	Sud-Vest Oltenia	Romania	8,800	36%
8.	Sud-Est	Romania	9,400	38%
9.	Sud – Muntenia	Romania	9,500	39%
9.	Észak Magyaroszág	Hungary	9,700	40%

Rank	NUTS-1 Region	Member state	GDP per capita
			in Euros	As % of EU-27 average
1.	Severna i Iztochna Bulgaria	Bulgaria	7,800	32%
2.	Macroregiunea Doi	Romania	8,000	33%
3.	Alföld és Észak	Hungary	10,100	41%
4.	Macroregiunea Unu	Romania	10,500	43%
5.	Macroregiunea Patru	Romania	10,700	44%
6.	Region Wschodni	Poland	10,700	44%
7.	Region Północny	Poland	13,100	54%
8.	Latvia	Latvia	13,200	54%
9.	Dunántúl	Hungary	13,600	56%
10.	Yugozapadna i Yuzhna Tsentralna Bulgaria	Bulgaria	13,800	56%
11.	Region Północno-Zachodni	Poland	14,700	60%
12.	Lithuania	Lithuania	14,900	61%
13.	Region Południowy	Poland	15,000	61%
14.	Estonia	Estonia	15,500	63%
15.	Region Południowo-Zachodni	Poland	15,900	65%
16.	Départements d'Outre-Mer	France	16,300	66%
17.	Sud	Italy	16,500	67%
18.	Macroregiunea Trei	Romania	16,700	68%
19.	Northern Greece	Greece	16,700	68%
20.	Isole	Italy	16,900	69%

Source: Eurostat

Richest and poorest NUTS regions (GDP PPP 2011)

Richest and poorest NUTS-2 regions (GDP PPP 2011)

Member State	Region	GDP per capita
		in Euros	As % of EU-27 average
European Union		25,100	100.0%
Austria		32,300	129%
Richest	Wien	41,300	165%
	Salzburg	37,500	149%
	Vorarlberg	34,400	137%
	Tirol	33,400	133%
	Oberösterreich	32,500	130%
	Steiermark	28,100	112%
	Kärnten	27,600	110%
	Niederösterreich	26,600	106%
Poorest	Burgenland	21,700	87%
Belgium		30,200	120%
Richest	Bruxelles-Cap., Brussels Hfdst.	55,600	222%
	Antwerpen	34,800	139%
	Vlaams Brabant	31,800	127%
	Brabant Wallon	29,800	119%
	West-Vlaanderen	28,500	114%
	Oost-Vlaanderen	27,400	109%
	Limburg	24,900	99%
	Liége	22,600	90%
	Namur	21,500	86%
	Luxembourg	20,300	81%
Poorest	Hainaut	19,900	79%
Bulgaria		11,700	47%
Richest	Yugozapaden	19,600	78%
	Yugoiztochen	9,500	38%
	Severoiztochen	9,400	38%
	Yuzhen tsentralen	8,100	32%
	Severen tsentralen	7,800	31%
Poorest	Severozapaden	7,200	29%
Croatia		15,300	61%
Richest	Jadranska Hrvatska	15,600	62%
Poorest	Kontinentalna Hrvatska	14,700	59%
Cyprus		23,600	94%
Czech Republic		20,300	81%
Richest	Praha	42,900	171%
	Jihovýchod	18,400	73%
	Střední Čechy	18,200	73%
	Moravskoslezsko	17,800	71%
	Jihozápad	17,600	70%
	Severovýchod	16,700	67%
	Střední Morava	16,500	66%
Poorest	Severozápad	15,700	63%
Denmark		31,500	126%
Richest	Hovedstaden	38,300	153%
	Midtjylland	28,200	113%
	Syddanmark	27,800	111%
	Nordjylland	27,500	110%
Poorest	Sjælland	22,000	88%
Estonia		17,400	69%
Finland		29,000	116%
Richest	Helsinki-Uusimaa	38,300	153%
	Åland	34,600	138%
	Länsi-Suomi	26,300	105%
	Etelä-Suomi	25,600	102%
Poorest	Pohjois-Suomi	23,900	95%
France		27,400	109%
Richest	Île-de-France	45,600	182%
	Rhône-Alpes	27,300	109%
	Provence-Alpes-Côte d'Azur	26,000	104%
	Alsace	25,400	101%
	Pays de la Loire	24,100	96%
	Upper Normandy	24,000	96%
	Aquitaine	23,900	95%
	Midi-Pyrénées	23,800	95%
	Champagne-Ardenne	23,200	92%
	Centre	22,800	91%
	Corsica	22,800	91%
	Burgundy	22,700	90%
	Brittany	22,400	89%
	Nord-Pas-de-Calais	22,100	88%
	Auvergne	21,900	87%
	Poitou-Charentes	21,800	87%
	Franche-Comté	21,600	86%
	Lower Normandy	21,200	84%
	Languedoc-Roussillon	20,500	84%
	Lorraine	20,900	83%
	Limousin	20,800	83%
	Picardy	20,800	83%
	Guadeloupe	19,200	77%
	Martinique	19,200	77%
	Réunion	17,200	69%
Poorest	French Guiana	13,200	53%
Germany		30,800	123%
Richest	Hamburg	50,700	202%
	Oberbayern	42,200	168%
	Darmstadt	40,500	162%
	Bremen	39,700	158%
	Stuttgart	38,000	152%
	Düsseldorf	34,400	137%
	Karlsruhe	34,000	135%
	Mittelfranken	33,300	133%
	Tübingen	33,300	133%
	Oberpfalz	32,500	130%
	Köln	32,400	129%
	Niederbayern	31,400	125%
	Unterfranken	31,400	125%
	Braunschweig	31,300	125%
	Schwaben	31,300	125%
	Detmold	30,300	121%
	Freiburg	30,200	120%
	Saarland	30,200	120%
	Hannover	29,900	119%
	Kassel	29,600	118%
	Berlin	28,300	113%
	Rheinhessen-Pfalz	29,400	117%
	Oberfranken	29,000	116%
	Arnsberg	28,300	113%
	Gießen	28,000	112%
	Münster	27,800	111%
	Weser-Ems	27,300	109%
	Koblenz	26,900	107%
	Schleswig-Holstein	25,900	103%
	Trier	25,300	101%
	Leipzig	23,700	95%
	Dresden	22,500	89%
	Brandenburg	22,200	88%
	Chemnitz	21,500	86%
	Sachsen-Anhalt	21,500	86%
	Lüneburg	21,300	85%
	Thüringen	21,200	85%
Poorest	Mecklenburg-Vorpommern	21,100	84%
Greece		20,000	80%
Richest	Αττικής – Attica	26,900	107%
	Νοτίου Αιγαίου – South Aegean	22,300	89%
	Δυτικής Μακεδονίας – West Macedonia	20,000	80%
	Ιονίων Νησιών – Ionian Islands	18,900	75%
	Στερεά Ελλάδα – Central Greece	18,100	72%
	Κρήτη – Crete	17,300	69%
	Πελοποννήσου – Peloponnese	16,200	65%
	Βορείου Αιγαίου – North Aegean	15,800	63%
	Κεντρικής Μακεδονίας – Central Macedonia	15,600	62%
	Δυτική Ελλάδα – West Greece	14,900	59%
	Ανατολικής Μακεδονίας και Θράκης – East Macedonia and Thrace	14,200	57%
	Θεσσαλίας – Thessaly	14,200	56%
Poorest	Ηπείρου – Hepirus	13,800	55%
Hungary		16,900	67%
Richest	Közép Magyarország	27,600	110%
	Nyugat Dunántúl	17,100	68%
	Közép Dunántúl	14,800	59%
	Dél Dunántúl	11,200	45%
	Dél Alföld	11,100	44%
	Észak Alföld	10,700	43%
Poorest	Észak Magyaroszág	10,000	40%
Ireland		32,300	129%
Richest	Southern and Eastern	36,300	145%
Poorest	Border, Midland and Western	21,500	86%
Italy		25,500	102%
Richest	South Tyrol	36,900	147%
	Lombardia	33,200	132%
	Valle d’Aosta	33,000	132%
	Emilia–Romagna	31,400	125%
	Trentino	30,500	122%
	Veneto	29,600	118%
	Lazio	29,300	117%
	Friuli-Venezia Giulia	29,000	116%
	Piemonte	27,600	110%
	Toscana	27,600	110%
	Liguria	26,700	106%
	Marche	25,500	102%
	Umbria	23,200	93%
	Abruzzo	21,900	87%
	Molise	19,700	78%
	Sardegna	19,300	77%
	Basilicata	17,900	71%
	Puglia	16,700	67%
	Sicilia	16,300	65%
	Calabria	16,100	64%
Poorest	Campania	15,700	63%
Latvia		15,000	60%
Lithuania		16,900	69%
Luxembourg		66,700	266%
Malta		21,500	86%
Netherlands		32,500	129%
Richest	Groningen	45,600	182%
	Utrecht	38,200	152%
	Noord-Holland	36,600	146%
	Noord-Brabant	32,900	131%
	Zuid-Holland	32,000	128%
	Zeeland	31,000	124%
	Limburg	29,000	116%
	Overijssel	28,400	113%
	Gelderland	27,200	109%
	Friesland	26,300	105%
	Drenthe	24,800	99%
Poorest	Flevoland	23,600	94%
Poland		16,400	65%
Richest	Mazowieckie	26,700	107%
	Dolnośląskie	18,500	74%
	Śląskie	17,700	70%
	Wielkopolskie	17,000	68%
	Pomorskie	15,600	62%
	Łódzkie	15,200	60%
	Małopolskie	14,100	56%
	Zachodniopomorskie	13,800	55%
	Lubuskie	13,500	54%
	Kujawsko-Pomorskie	13,400	54%
	Opolskie	13,100	52%
	Świętokrzyskie	12,200	49%
	Podlaskie	11,800	47%
	Warmińsko-Mazurskie	11,800	47%
Poorest	Lubelskie	11,100	44%
	Podkarpackie	11,100	44%
Portugal		19,300	77%
Richest	Lisboa	26,900	107%
	Madeira	24,900	99%
	Algarve	19,700	79%
	Açores	18,200	72%
	Alentejo	17,700	70%
	Centro	16,000	64%
Poorest	Norte	15,600	62%
Romania		12,200	49%
Richest	Bucureşti – Ilfov	30,700	122%
	Vest	13,500	54%
	Centru	11,400	45%
	Nord-Vest	10,500	42%
	Sud – Muntenia	10,000	40%
	Sud-Est	9,900	39%
	Sud-Vest Oltenia	9,300	37%
Poorest	Nord-Est	7,200	29%
Slovakia		18,900	75%
Richest	Bratislavský kraj	46,600	186%
	Západné Slovensko	18,100	72%
	Stredné Slovensko	14,800	59%
Poorest	Východné Slovensko	12,800	51%
Slovenia		21,100	84%
Richest	Zahodna Slovenija	25,100	100%
Poorest	Vzhodna Slovenija	17,700	71%
Spain		24,200	96%
Richest	Basque Country	32,500	130%
	Madrid	31,500	126%
	Navarre	31,100	124%
	Catalonia	28,400	113%
	La Rioja	27,200	109%
	Aragón	27,000	108%
	Islas Baleares	25,300	101%
	Castilla y León	23,800	95%
	Cantabria	23,500	94%
	Asturias	22,700	91%
	Galicia	21,800	87%
	Comunidad Valenciana	21,200	85%
	Ceuta	20,900	83%
	Islas Canarias	20,600	82%
	Murcia	19,700	79%
	Castilla-La Mancha	19,300	77%
	Melilla	19,000	76%
	Andalucía	18,300	73%
Poorest	Extremadura	16,700	67%
Sweden		31,400	125%
Richest	Stockholm	43,300	173%
	Övre Norrland	31,500	125%
	Västsverige	29,600	118%
	Mellersta Norrland	29,000	116%
	Småland med öarna	27,600	110%
	Östra Mellansverige	27,000	108%
Sydsverige		26,800	107%
Poorest	Norra Mellansverige	26,500	106%
United Kingdom		26,400	105%
Richest	Inner London	80,400	321%
	North Eastern Scotland	39,900	159%
	Berkshire, Buckinghamshire & Oxfordshire	35,900	143%
	Cheshire	29,600	118%
	Gloucestershire, Wiltshire & Bristol	27,500	110%
	Bedfordshire & Hertfordshire	26,800	107%
	Surrey, East & West Sussex	26,800	107%
	Hampshire & Isle of Wight	25,600	102%
	Eastern Scotland	24,500	98%
	East Anglia	23,600	94%
	West Yorkshire	23,300	93%
	Leicestershire, Rutland & Northamptonshire	23,200	93%
	East Wales	22,900	91%
	Greater Manchester	22,600	90%
	Outer London	22,500	90%
	Herefordshire, Worcestershire & Warwickshire	22,400	89%
	North Yorkshire	22,400	89%
	South Western Scotland	22,300	89%
	West Midlands	21,800	87%
	Essex	21,500	86%
	Derbyshire & Nottinghamshire	21,200	85%
	Kent	21,200	85%
	Dorset & Somerset	21,100	84%
	Cumbria	20,900	83%
	Northumberland and Tyne & Wear	20,800	83%
	Devon	20,200	80%
	East Yorkshire & Northern Lincolnshire	20,100	80%
	Merseyside	20,200	80%
	Highlands & Islands	20,100	80%
	Northern Ireland	19,700	78%
	Lancashire	19,600	78%
	Shropshire & Staffordshire	19,300	77%
	South Yorkshire	18,700	75%
	Lincolnshire	18,500	74%
	Tees Valley & Durham	17,900	71%
	Cornwall & Isles of Scilly	16,200	64%
Poorest	West Wales & The Valleys	16,100	64%

Richest and poorest NUTS-1 regions (GDP PPP 2010)

Member State	Region	GDP per capita
		in Euros	As % of EU-27 average
European Union		24,500	100.0%
Austria		31,100	127%
Richest	Ostösterreich	32,300	132%
	Westösterreich	32,300	132%
Poorest	Südösterreich	26,700	109%
Belgium		29,200	119%
Richest	Bruxelles-Cap., Brussels Hfdst.	54,700	223%
	Vlaams Gewest	28,900	118%
Poorest	Région Wallonne	21,500	88%
Bulgaria		10,700	44%
Richest	Yugozapadna i Yuzhna Tsentralna Bulgaria	13,800	56%
Poorest	Severna i Iztochna Bulgaria	7,800	32%
Cyprus		23,600	97%
Czech Republic		19,500	80%
Denmark		31,300	128%
Estonia		15,500	63%
Finland		27,700	118%
Richest	Åland	33,500	137%
Poorest	Manner-Suomi	27,700	113%
France		26,500	108%
Richest	Île-de-France	44,200	180%
	Centre-est	25,400	104%
	Méditerranée	23,400	96%
	Sud-ouest	22,800	93%
	Ouest	22,200	91%
	Est	21,900	90%
	Bassin parisien	21,800	89%
	Nord-Pas-de-Calais	21,300	87%
Poorest	Départements d'Outre-Mer	16,300	66%
Germany		29,000	119%
Richest	Hamburg	49,600	203%
	Bremen	38,800	158%
	Hessen	34,800	142%
	Bayern	33,000	135%
	Baden-Württemberg	32,000	131%
	Nordrhein-Westfalen	29,400	120%
	Saarland	27,300	114%
	Berlin	27,400	112%
	Niedersachsen	26,000	106%
	Rheinland-Pfalz	25,900	106%
	Schleswig-Holstein	24,200	99%
	Sachsen	21,100	86%
	Sachsen-Anhalt	20,300	85%
	Thüringen	19,700	84%
	Brandenburg	20,300	83%
Poorest	Mecklenburg-Vorpommern	19,900	81%
Greece		21,400	87%
Richest	Attica	28,200	115%
	Aegean Islands, Crete	20,900	82%
	Central Greece	17,000	69%
Poorest	Northern Greece	16,700	68%
Hungary		15,900	65%
Richest	Közép Magyarország	26,100	107%
	Dunántúl	13,600	56%
Poorest	Alföld és Észak	10,100	41%
Ireland		31,600	129%
Italy		24,700	101%
Richest	Nord Ovest	30,100	123%
	Nord Est	29,300	120%
	Centro	27,100	111%
	Isole	16,900	69%
Poorest	Sud	16,500	67%
Latvia		13,200	54%
Lithuania		14,900	61%
Luxembourg		65,200	266%
Malta		21,000	86%
Netherlands		32,100	131%
Richest	West-Nederland	34,500	141%
	Noord-Nederland	31,200	127%
	Zuid-Nederland	30,900	126%
Poorest	Oost-Nederland	26,900	110%
Poland		15,300	63%
Richest	Region Centralny	21,400	87%
	Region Południowo-Zachodni	15,900	65%
	Region Południowy	15,000	61%
	Region Północno-Zachodni	14,700	60%
	Region Północny	13,100	54%
Poorest	Region Wschodni	10,700	44%
Portugal		19,700	80%
Richest	Madeira	25,500	104%
	Continente	19,500	80%
Poorest	Açores	18,500	75%
Romania		11,400	47%
Richest	Macroregiunea Trei	16,700	68%
	Macroregiunea Patru	10,700	44%
	Macroregiunea Unu	10,500	43%
Poorest	Macroregiunea Doi	8,000	33%
Slovakia		17,900	73%
Slovenia		20,500	84%
Spain		24,300	99%
Richest	Basque Country	32,200	132%
	Noreste	30,100	123%
	Este	25,600	105%
	Noroeste	22,400	92%
	Canarias	20,800	85%
	Centro	20,700	85%
Poorest	Sur	18,800	77%
Sweden		30,200	124%
Richest	Östra Sverige	34,400	141%
	Norra Sverige	28,200	115%
Poorest	Södra Sverige	27,300	112%
United Kingdom		27,200	111%
Richest	London	45,800	187%
	South East (England)	28,300	116%
	Scotland	26,300	107%
	East of England	24,600	101%
	South West (England)	24,300	99%
	East Midlands (England)	23,100	94%
	North West (England)	22,700	93%
	West Midlands (England)	22,300	91%
	Yorkshire & the Humber	21,800	89%
	Northern Ireland	21,000	86%
	North East (England)	20,300	83%
Poorest	Wales	19,900	83%

Source: Eurostat

See also

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

References

• ^ 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