EU - European Union: GDP Data & Economic Report

European Union Economic Report: GDP data and GDP forecasts; economic, financial and trade information; EU and population overview

DATA ON GDP AND ECONOMIC INFORMATION

Central Bank of the Eurosystem

European Central Bank (2009)

Countries that are part of the Eurosystem

(Countries that use the euro)

Countries that created the euro area and introduced the euro in 1999: Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg, Netherlands, Portugal, Spain

Countries that were admitted to the euro area later: Greece (2001), Slovenia (2007), Cyprus (2008), Malta (2008), Slovakia (2009)

The micro-states of Monaco, San Marino and Vatican City also use the euro, on the basis of a formal arrangement with the European Community. Andorra, Montenegro and Kosovo likewise use the euro, but without a formal arrangement.

Gross Domestic Product

at market prices

European Union (27 countries)

2009: 12,165,150 millions of euro (estimate)

2010: 12,405,409 millions of euro (forecast)

Euro area

2009: 9,010,366 millions of euro (estimate)

2010: 9,168,142 millions of euro (forecast)

GDP PPP

(Purchasing Power Parity)

Euro area

2009: 10,607 billion current International Dollars (estimate)

2010: 10,804 billion current International Dollars (forecast)

European Union

2009: 14,851 billion current International Dollars (estimate)

2010: 15,147 billion current International Dollars (forecast)

Real GDP growth

	2001	2002	2003	2004	2005	2006	2007	2008
EU (27 countries)	2%	1.2%	1.3%	2.5%	2%	3.2%	2.9%	0.8%
Euro area	1.9%	0.9%	0.8%	2.1%	1.7%	3%	2.7%	0.6%

EU (27 countries) 2009: -4.1% (estimate)
2010: 0.7% (forecast)

Euro area 2009: -4% (estimate)

2010: 0.7% (forecast)

GDP per capita PPP

(Purchasing Power Parity)

Euro area

2008: 34,311 current International Dollars (estimate)

2009: 33,235 current International Dollars (forecast)

2010: 33,729 current International Dollars (forecast)

GDP - composition by sector

agriculture: 2%
industry: 27.1%
services: 70.9% (2008 est.)

Gross domestic expenditure on R&D

(% of GDP)

EU-27: 1.85% (2007)
Euro area: 1.87% (2007)

Inflation

	2008	2009	2010
Euro area	3.3%	0.3%	0.8%
European Union	3.7%	0.9%	1.1%

Unemployment rate

2008	2009	2010
7.6%	9.9% (estimate)	11.7% (forecast)

Gross household saving rate (%)

EU-27: 11.27% 2008

General government balance (% of GDP)

	2007	2008	2009	2010
European Union	-0.9%	-2.3%	-6.9% (estimate)	-7.5% (forecast)
Euro area	-0.6%	-1.8%	-6.2% (estimate)	-6.6% (forecast)

General government debt

(% of GDP)

	2007	2008	2009	2010	2011
EU-27	58.7%	61.5%	73% (estimate)	79.3% (forecast)	83.7% (forecast)
Euro area	66%	69.3%	78.2% (estimate)	84% (forecast)	88.2% (forecast)

Largest companies in Europe

HSBC Holdings, Royal Dutch Shell, BP, ING Group, Royal Bank of Scotland, BNP Paribas , Allianz, Total, AXA Group, Banco Santander, Barclays, EDF Group, E.ON, ENI, Deutsche Bank, UniCredit Group, Telefónica, Volkswagen Group, ArcelorMittal, Daimler, BBVA-Banco Bilbao Vizcaya, Credit Suisse Group, HBOS, Crédit Agricole, Nestlé, Fortis, France Telecom, Siemens, Lloyds TSB Group, StatoilHydro, Generali Group, Suez Group, Zurich Financial Services, Sanofi-aventis, Nokia, Munich Re, Novartis, Roche Holding, Rio Tinto, GlaxoSmithKline

FT Top 50 Banks in the World by market value 2009

HSBC, Banco Santander, BNP Paribas, Credit Suisse, UBS, Intesa San Paolo, BBV Argentaria, Credit Agricole, Standard Chartered, Deutsche Bank, Societe Generale, Nordea Bank, Unicredit, Royal Bank of Scotland

DATA ON TRADE AND COMPETITIVENESS

Current Account Balance (% GDP)		EU-27 - 2% (2008) Euro area: - 1% (2008)
Share of world market for traded goods		EU-27 Export 16.7% (2008) Import: 18.8% (2008) (share of world total excluding intra-EU trade)
Share of world total merchandising export		EU-27 15.91% (2008)
Share of world total commercial services export		EU-27 26.86% (2008)
Total export (trade in goods and commercial services)		EU-27 1,821,735 millions of Euro (Extra EU27): 2008
Extra EU 27 trade by product: export		Machinery and transport equipment: 503.7 millions of euros; Other manufactured products 293.8 millions of euros; Chemicals and related products: 184.4 millions of euros; Food, drinks and tobacco: 57.9 millions of euro (2006)
Total import (trade in goods and commercial services)		EU-27 1,987,875 millions of Euro (Extra EU27): 2008
Extra EU 27 trade by product: import		Machinery and transport equipment: 401.8 millions of euros; Other manufactured products 341.4 millions of euros; Mineral fuels & lubricants: 338.8 millions of euros; Chemicals and related products: 108.9 millions of euros (2006)
Export - Main trading partners of the EU-27 for merchandise trade (extra-EU-27 trade)		United States: 19.1%; Russian Federation: 8%; China (including Hong Kong): 7.6%; Switzerland: 7.5%; Turkey: 4.1%; Norway: 3.3%; Japan: 3.2% (2008)
Import - Main trading partners of the EU-27 for merchandise trade (extra-EU-27 trade)		China (including Hong Kong) 16.6%; United States 12%; Russian Federation 11.2%; Norway 6.1%; Switzerland 5.1%; Japan 4.8% (2008)
Foreign direct investment inflows (from extra EU countries)		EU-27: 172,667 millions euro (2008)
Foreign direct investment outflows (toward extra EU countries)		EU-27: 354,387 millions euro (2008)

EU AND POPULATION OVERVIEW

Time zone		Western European Time (UTC+0) Central European Time (UTC+1) Eastern European Time (UTC+3)
Total area		4,324,782 km² (2009)
Member states European Union		Austria, Belgium, Bulgaria, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, United Kingdom (2010)
Candidate countries European Union		Croatia, Former Yugoslav Republic of Macedonia, Turkey (2010)
Political centres European Union		Brussels, Luxembourg, Strasbourg (2009)
Languages		The European Union has 23 official languages. They are: Bulgarian, Czech, Danish, Dutch, English, Estonian, Finnish, French, German, Greek, Hungarian, Irish, Italian, Latvian, Lithuanian, Maltese, Polish, Portuguese, Romanian, Slovak, Slovene, Spanish and Swedish. However, there are fewer official languages than Member States, as some share common languages. (2009)
Religions		Roman Catholic, Protestant, Orthodox, Muslim, Jewish (2009)
Total population		EU-27: 501,259,840 (2010, forecast) Euro area: 329,671,838 (2010, forecast)
Population density (inhabitants per km²)		EU-27 114.3 (2005) EU-15 120.9 (2006)
Population age structure		0-14 years: 15.44% 15-64 years: 67.22% 65 years and over: 17.34%
Population growth rate		European Union: 0.108 % (2009 est.)
Life expectancy at birth by gender		Euro area Males 77.32 (2006) Females 83.27 (2006)
Inequality of wealth distribution (Gini Index)		European Union: 31 in 2007 (0=perfect equality, 100=absolute inequality)
Computer use (Individuals who used a computer within the last year)		EU-27: 71% (2009)
% of households who have internet access at home		EU-27: 65% Euro area: 66% (2009)
% of households with a broadband connection		EU-27: 56% Euro area: 56% (2009)
Cost of living - Mercer Index		New York - Index: 100 (Base) Copenhagen: 7th - Index: 105.0 Milan: 11th - Index: 96.9 Paris: 13th - Index: 95.1 London: 16th - Index: 92.7 Rome: 18th - Index: 91.2 Helsinki: 19th - Index: 90.5 Vienna: 21st - Index: 89.3 Dublin: 25th - Index: 87.4 Athens: 28th - Index: 85.9 Amsterdam: 29th - Index: 85.7 Bratislava: 30th - Index: 84.8 Madrid: 37th - Index: 82.3 Luxembourg: 38th - Index: 82.1 Barcelona: 38th - Index: 82.1 Brussels: 41st - Index: 81.6 Munich: 47th - Index: 81.2 Frankfurt: 48th - Index: 80.9 Berlin: 49th - Index: 80.8 Dusseldorf: 54th - Index: 79.5 Riga: 55th - Index: 79.4 Hamburg: 56th - Index: 78.7 Zagreb: 59th - Index: 77.5 Lyon: 62nd - Index: 76.6 Lisbon: 64th - Index: 76.3 Prague: 70th - Index: 74.6 Tallinn: 74th - Index: 73.8 Limassol: 78th - Index: 73.1 Stockholm: 79th - Index: 72.3 Vilnius: 83rd - Index: 71.7 Ljubljana: 90th - Index: 70.5 Leipzig: 101st - Index: 68.1 Sofia: 101st - Index: 68.1 Bucharest: 107th - Index: 66.5 Budapest: 108th - Index: 66.4 Warsaw : 113th - Index: 65.6 Birmingham: 125th - Index: 64.0 (2009)

GLOBAL FINANCE RANKINGS AND AWARDS

CENTRAL BANKER REPORT CARD

2009:

Grade A to Jean-Claude Trichet (2009)

ARTICLES AND COUNTRIES REPORTS FROM GLOBAL FINANCE ARCHIVE