FAQs
In 2023, the share of the European Union in the global gross domestic product based on purchasing-power-parity amounted to an estimated 14.46 percent. The EU GDP amounted to 15.91 trillion euros in 2022.
What is the GDP of Europe in 2030? ›
Europe will be the third global economy. It is worth noting that things look quite different when measured as GDP per capita: while China's will grow from currently $10,000 to $14,000 in 2030, Europe's GDP per capita is expected to grow from $37,800 to around $50,950.
What share of GDP is EU consumption? ›
European Union Private Consumption accounted for 52.8 % of its Nominal GDP in Mar 2024, compared with a ratio of 51.5 % in the previous quarter. EU Private Consumption contribution to Nominal GDP ratio is updated quarterly, available from Mar 1995 to Mar 2024, with an average share of 55.2 %.
What is the EU share of the global market? ›
The EU27 accounts for around 14% of the world's trade in goods. The EU, China and the United States are the three largest global players in international trade.
What is the GDP of the European Union economy? ›
Economy of the European Union
| Statistics |
|---|
| GDP | $18.98 trillion (nominal; 2024) $26.64 trillion (PPP; 2024) |
| GDP growth | 2.3% (2018) 1.7% (2019) −5.9% (2020) 5.4% (2021) |
| GDP per capita | $43,300 (nominal; 2024) $59,050 (PPP; 2024) |
| GDP by sector | Agriculture: 1.5% Industry: 24.5% Services: 70.7% (2016 est.) |
36 more rowsThe per capita GDP for the combined 27 countries of the European Union (EU-27) is about 72% of the US level. On the other side, the average worker in EU countries puts in far fewer hours on the job than do American workers.
How much of the EU GDP is public procurement? ›
Public procurement accounts for about 14% of the EU's gross domestic product (GDP). It is regulated by law to maximise value for money for the public sector and ensure compliance with three key principles: equal treatment. non-discrimination.
What is the most powerful economy in Europe by share of GDP? ›
Europe's largest national economies by nominal GDP over US$1.0 trillion are:
- Germany ($4.43 trillion),
- United Kingdom ($3.33 trillion),
- France ($3.05 trillion),
- Italy ($2.19 trillion),
- Russia ($1.86 trillion),
- Spain ($1.58 trillion)
- Netherlands ($1.09 trillion)
US Personal Consumption Expenditures (I:USPCEGDP)
US Personal Consumption Expenditures is at 68.28%, compared to 68.01% last month and 68.18% last year. This is higher than the long term average of 64.31%.
What is the trade to GDP ratio in the EU? ›
Trade is the sum of exports and imports of goods and services measured as a share of gross domestic product. European Union trade to gdp ratio for 2022 was 105.96%, a 12.97% increase from 2021.
Europe Population (LIVE)
The current population of Europe is 741,663,517 as of Sunday, June 23, 2024, based on the latest United Nations estimates. Europe population is equivalent to 9.32% of the total world population.
Is European market bigger than US? ›
Fifteen years on, the eurozone's GDP is just over $15 trillion, while US GDP has soared to $26.9 trillion. As a result, the GDP gap is now 80%!
Which country has the highest share of global GDP? ›
Percent of world GDP, 2021:
| Countries | Percent of world GDP, 2021 | Global rank |
|---|
| USA | 24.34 | 1 |
| China | 18.6 | 2 |
| Japan | 5.26 | 3 |
| Germany | 4.47 | 4 |
108 more rowsThe report also notes: The EU accounts for 16.2% of world trade and is the top trading partner of 80 countries. But the EU's share of global exports is dropping, hitting 13.7% in 2022 compared with a peak of 16.3% in 2016.
What is the export to GDP ratio of the EU? ›
European Union trade to gdp ratio for 2022 was 105.96%, a 12.97% increase from 2021.
What share of global emissions does the EU have? ›
The EU produced 3 billion tonnes, which represents around 8 % of worldwide CO₂-emissions. Of these, some 2.4 billion tonnes served final demand (consumption) within the EU, and some 0.6 billion tonnes served consumption in the rest of the world e.g. through exports out of the EU.
