GDP of European countries 2021 (2023)

Germany is the largest economy in Europe, followed by United Kingdom, France, Italy, and Russia. These five together hold a 50% share of the European economy. Total ten European economies represent almost 80% share. San Marino is the smallest economy in Europe.

Seven economies of Europe would have gdp above $1 trillion, and 23 would have an economy of above $100 billion. In 2021, Ireland will overtake Austria. Four European economies are in the list of top ten largest economies globally, and Nineteen economies are within the top 50 world gdp ranking.

All 41 European economies would see an increase in 2021 compared to 2020. With $399 bn, United Kingdom will be the top contributor, followed by Germany ($387 bn) and France ($316 bn).

In ppp data, the five largest economies of Europe are Germany, Russia, France, United Kingdom, and Italy. Eight economies would have gdp above Int. $1 trillion in 2021 and 28 would have an economy of above Int. $100 billion. Ireland will move ahead to Austria. Four European economies are in the top ten list, and sixteen economies are within the top 50 world gdp ranking.

None of the European economies would see a decrease in 2021 compared to 2020. Russia (Int. $347 bn), United Kingdom (Int. $314 bn), Germany (Int. $307 bn),France (Int. 305 bn), and Italy (Int. $236 bn) would be the top gainers.

(Video) Richest to Poorest European Countries by GDP - European Economy Ranking by Total GDP

(Video) European Countries by GDP rankings (2010 - 2021)
GDP (Nominal)
Country/EconomyGDP (billions of $)Share (%)Rank
Bosnia and Herzegovina19.78921.6921.9030.09190.022834112
Czech Republic245.349276.91431.5651.170.2921848
North Macedonia12.28813.8851.5970.05880.014637135
San Marino1.5541.7280.1740.007320.0018241174
Slovak Republic104.491116.74812.2570.4950.1232361
United Kingdom2,709.6803,108.420398.74013.23.2725
  • Choropleth Map
  • Bubble Map
  • Chart Map
  • PPP
  • Change in PPP
(Video) Richest Countries in Europe | GDP PPP per Capita 1920-2022
Country/EconomyGDP (billions of Int. $)Share (%)RankPPP/Nom
Bosnia and Herzegovina49.94353.1923.2490.1740.0368331122.524
Czech Republic436.234469.06732.8331.540.32416471.778
North Macedonia34.69337.3812.6880.1220.0258351272.823
San Marino2.0312.2200.1890.007270.00153411791.307
Slovak Republic179.381194.08114.7000.6350.13424701.717
United Kingdom2,961.8903,276.140314.25010.72.274101.093


Which country has the highest GDP in Europe 2021? ›

In 2021, Luxembourg recorded the highest level of GDP per capita in the EU followed by Ireland, Denmark and the Netherlands. Bulgaria had the lowest level of GDP per capita in the EU in 2021, followed by Greece, Slovakia and Croatia.

What is the GDP of Europe 2021? ›

The European economy, comprising 42 economies, in 2021 is projected around US$23.4 trillion in nominal terms, $2.6 trillion more than 2020, calculated by taking figures from the IMF. The GDP of Europe is $1 tn more than the US's GDP, the largest economy in the world.

Which EU country has the largest GDP? ›

6.9% (2023 est.) 75.4% of GDP (2023 est.)
Europe's top 5 largest national economies are:
  • Germany (€3.8 trillion),
  • United Kingdom (€2.6 trillion),
  • France (€2.5 trillion),
  • Italy (€1.8 trillion),
  • Spain (€1.2 trillion)

Is EU GDP bigger than US? ›

It is the third largest economy in the world in nominal terms, after the United States and China, and the third one in purchasing power parity (PPP) terms, after China and the United States.

Is US GDP higher than Europe? ›

As of 2021, The per capita income of the United States is 1.86 and 1.44 times higher than that of the European Union in nominal and PPP terms, respectively. The US had greater gdp per capita than the EU for data available since 1966.
Comparing United States and European Union by Economy.
SourceWorld Bank : Nominal, PPP, Nominal per capita, PPP per capita
Date22 May 2021
1 more row
May 22, 2021

How big is the EU economy compared to us? ›

STATEuropean Union
GDP$16.63 trillion Ranked 1st. 6% more than United States
GDP > Composition by sector > Industry25% Ranked 85th. 31% more than United States
Per capita$29,423.40 per capita Ranked 29th.
Purchasing power parity$14.90 trillion Ranked 1st.
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What are the top 3 richest countries in Europe based on GDP? ›

2014-10 Richest countries in Europe
RankCountryPPP GDP per capita
41 more rows

Who has the fastest growing economy in Europe? ›

Real GDP Growth Rates in Europe
1Faroe Islands2017 est.
2Ireland2019 est.
3Monaco2015 est.
4Estonia2019 est.
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Is Europe poorer than the US? ›

By almost any economic statistic we can find, Americans tend to enjoy higher material standards of living than their European counterparts. But when it comes to quality-of-life measures that aren't included in GDP, Europe tends to come out ahead.

Which European economy is the strongest? ›

Since Soviet dissolution, Germany has always had the largest economy in Europe, while either France or the UK has had the second largest economy depending on the year.

Which country has the strongest economy in Europe 2022? ›

Germany is Europe's largest economy.

Which is the most developed country in EU? ›

The overall score measures the total progress towards achieving all 17 SDGs. The score can be interpreted as a percentage of SDG achievement. A score of 100 indicates that all SDGs have been achieved. Click on a country for details.
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Which city has the strongest economy in Europe? ›

Paris metropolitan area

Which country has the strongest economy? ›

With a GDP of 23.32 trillion dollars, the USA is by far the world's largest economy in this ranking for 2021. It is followed by China in second place with a GDP of 17.73 trillion dollars.

Is the US as big as all of Europe? ›

In terms of size the two are almost even, with Europe only slightly bigger than the US (10.2 million sq km vs 9.8 million sq km) but this includes large parts of Russia. The EU, which many people think of as Europe, has a population of 510 million people, in an area half the size of the US (4.3 million sq km).

Which economy is bigger EU or China? ›

Since then the EU has become an economic and political force to reckon with. Its combined gross domestic product (GDP) stood at $16.6 trillion in 2022, after the U.S. ($26 trillion) and China ($19 trillion.)

Is China richer than the EU? ›

Credit Suisse found China's median wealth outpaced Europe's in its 2021 Global Wealth Report. The average Chinese citizen has a wealth of $26,752, around $60 more than the average European. Chinese wealth has surged in the past two decades, with median wealth per adult growing more than eight-fold.

Is the US richer than the UK? ›

Its $2.97 trillion economy is on par with Britain, which has a GDP of $2.81 trillion. The UK needed 14.5 million workers — 75 percent more than California used — to produce the same economic output.

What is the rank of USA in GDP? ›

GDP by Country
#CountryGDP (abbrev.)
1United States$19.485 trillion
2China$12.238 trillion
3Japan$4.872 trillion
4Germany$3.693 trillion
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Is China richer than US GDP? ›

The United States is the richest country in the world with the highest GDP, as of 2021. China is the second richest country in the world with a $17.734 trillion GDP.

Could the US fit in Europe? ›

It's easy to forget how large the United States is for one country, especially when you compare it to a continent like Europe that's made up of so many smaller countries. According to a neat overlay map posted to Reddit by user martinswfan, you can fit 30 European countries into the continental US.

Why is Europe so much cheaper than the US? ›

Key Takeaways. Overall, Europe has a lower cost of living due to lower healthcare expenses, a weakening euro currency, and low inflation. Europeans, however, tend to pay more of their income to taxes, and average wages tend to be lower than in America.

Is Texas economy bigger than France? ›

Texas has the second-biggest economy in the United States, right behind California, with a GSP of $1.8trillion.
Countries With A Bigger GDP Than Texas.
RankCountryGDP (USD million)
5United Kingdom28,08,899
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Feb 4, 2020

What are the top 10 poorest countries in Europe? ›

Eastern European countries, particularly those that were significantly affected by the Soviet Union's downfall, tend to be the poorest today.
  1. Ukraine. ...
  2. Georgia. ...
  3. Kosovo. ...
  4. Moldova. ...
  5. Albania. ...
  6. North Macedonia. ...
  7. Bosnia and Herzegovina. ...
  8. Belarus.

Which European country has the most millionaires? ›

Switzerland was the country with the highest rate of millionaires worldwide in 2021, with 16.4percent of the adult population owning assets worth more than one million U.S. dollars. Luxembourg followed right behind with 16.2 percent of the population being millionaires, with Iceland in third.

Why is German economy so strong? ›

In the business world, it is well known that Germany has a strong economy and worldwide trading reputation, but why is this? The German economy's competitiveness and worldwide networking can be attributed to its elevated level of innovation and strong export orientation.

Which European country has the most free economy? ›

Economic freedom, overall index (0-100), 2022 - Country rankings: The average for 2022 based on 41 countries was 70 index points. The highest value was in Switzerland: 84 index points and the lowest value was in Belarus: 53 index points.

What is the largest growing city in Europe? ›

Cluj-Napoca: Europe's fastest growing city making strides in automation.

What is the biggest growing city in Europe? ›

Interestingly, Balashikha—the fastest growing European city—is located just 25km (15 mi) outside Moscow. Rapid expansion at the peripheries of capital cities like this are typically attributed to a phenomenon called urban sprawl.
Russian Might.
2020–2025 Growth Rate1.33%
Capital city?No
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Sep 2, 2021

Which country will have highest GDP in 2021? ›

As of 2021, the United States and China would occupy the first two places in both methods' gdp ranking. The US and China's margin is coming down in nominal ranking as China's gdp growth rate of 2021 (8.02%) is higher than the US's 5.97%. On a nominal basis, the US is ahead of China by $6 trillion in 2021.

What are the top 5 strongest economy in Europe? ›

Since 1980, Europe's largest economies have consistently been France, Germany, Italy, Spain, and the United Kingdom, although the former Soviet Union's economy was the largest in the 1980s, and Russia's economy has been larger than Spain's since 2010.

What is the richest country in the world 2021 GDP? ›

The United States is the richest country in the world with the highest GDP, as of 2021. China is the second richest country in the world with a $17.734 trillion GDP. Monaco is the richest country in the world when measured by GDP per capita.

Which is the fastest growing economy in Europe 2021? ›

The European Union's fastest-growing economy in 2021 was Ireland, with the country's gross domestic product growing by 13.5 percent that year, according to the most recent forecast in 2022. Croatia's economy was expected to have grown by 10.2 percent, with the economy of Malta growing the third-fastest at 9.4 percent.

Where does the US rank in economy? ›

The United States is a highly developed mixed-market economy. It is the world's largest economy by nominal GDP, and the second-largest by purchasing power parity (PPP) behind China. It has the world's seventh-highest per capita GDP (nominal) and the eighth-highest per capita GDP (PPP) as of 2022.

Where does California rank in world economy? ›

If California were a sovereign nation (2022), it would rank in terms of nominal GDP as the world's fifth largest economy, behind Germany and ahead of India. Additionally, California's Silicon Valley is home to some of the world's most valuable technology companies, including Apple, Alphabet, and Nvidia.

Which country GDP is growing fastest? ›

List (2021)
RankCountryReal GDP growth rate (%)
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Which EU country has best quality of life? ›

  • Sweden. #1 in Quality of Life. #5 in Best Countries Overall. ...
  • Denmark. #2 in Quality of Life. #10 in Best Countries Overall. ...
  • Canada. #3 in Quality of Life. ...
  • Switzerland. #4 in Quality of Life. ...
  • Norway. #5 in Quality of Life. ...
  • Finland. #6 in Quality of Life. ...
  • Germany. #7 in Quality of Life. ...
  • Netherlands. #8 in Quality of Life.

What is the most developed country in Europe? ›

Countries are ranked by their overall score. The overall score measures the total progress towards achieving all 17 SDGs. The score can be interpreted as a percentage of SDG achievement.
34 more rows

What are the top 3 richest countries in Europe? ›

2014-10 Richest countries in Europe
2 more rows

What country is not in debt? ›

The best example can be taken from Hong Kong (it is a one of the debt free countries), whose economy has the least debt to GDP ratio. It is an almost debt free country. It has a well-regulated financial system and large foreign reserves. Its per capita GDP is the highest in the world, around £ 32,000.

Which country has the best economy? ›

With a GDP of 23.32 trillion dollars, the USA is by far the world's largest economy in this ranking for 2021. It is followed by China in second place with a GDP of 17.73 trillion dollars. Canada is also quite far ahead in the international comparison and occupies the ninth place in this ranking.

Which country has the fastest growing economy in the world 2022? ›

India is set to be the world's fastest growing major economy in the year ahead, as a post-pandemic retail boom and recent bank balance-sheet repairs lure new investment.

What is the fastest developing country in Europe? ›

Real GDP Growth Rates in Europe
1Faroe Islands2017 est.
2Ireland2019 est.
3Monaco2015 est.
4Estonia2019 est.
43 more rows

How does the UK economy compared to the US? ›

Documents to download

The US saw growth of 0.8%, after two quarters of declines. Compared to the pre-pandemic level, UK GDP in Q3 2022 was 0.8% lower. This compares with Eurozone GDP being 2.2% higher than its pre-pandemic level, while US GDP was 4.4% higher. For 2021 as a whole, UK GDP growth was 7.6%.


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