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

alt DATA ON GDP AND ECONOMIC INFORMATION
Central Bank of the Eurosystem   alt European Central Bank (2009)

Countries that are part of the Eurosystem

(Countries that use the euro)

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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

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European Union (27 countries)
2011: 12,449,000 millions of euro (estimate)
2012: 12,445,314 millions of euro (forecast)

 

Euro area
2011: 9,298,403 millions of euro (estimate)
2012: 9,269,467 millions of euro (forecast)

GDP PPP

(Purchasing Power Parity)

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European Union
2011: 15,821 billion current International Dollars (estimate)
2012: 16,025 billion current International Dollars (forecast)

Euro area
2011: 11,237 billion current International Dollars (estimate)
2012: 11,345 billion current International Dollars (forecast)

Real GDP growth alt
2004 2005 2006 2007 2008 2009 2010 2011
EU (27 countries) 2.5% 2% 3.3% 3.2% 0.3% -4.4% 2.1% 1.5%
Euro area 2.2% 1.7% 3.3% 3% 0.4% -4.4% 2% 1.5%

EU (27 countries)       2012: 0% (forecast)


Euro area                     2012: -0.3% (forecast)


GDP per capita PPP

(Purchasing Power Parity)

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Euro area
2011: 33,786 current International Dollars (estimate)
2012: 34,023 current International Dollars (forecast)
2013: 34,766 current International Dollars (forecast)

GDP - composition by sector alt agriculture: 1.8%
industry: 25.1%
services: 73.1% (2011 est.)

Gross domestic expenditure on R&D

(% of GDP)

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EU-27: 2% (2010 Eurostat estimate)
Euro area: 2.06% (2010 Eurostat estimate)

Inflation alt
2009 2010 2011
European Union 0.9% 2% 3.1%
Euro area 0.3% 1.6% 2.7%
Unemployment rate alt

2010

2011 

2012

10.1% 10.1% (estimate) 10.9% (forecast)
Gross household saving rate (%) alt EU-27: 11.42% (2011)
General government balance (% of GDP) alt
2009 2010

2011

2012

European Union -6.7% -6.5% -4.6% (estimate) -3.8% (forecast)
Euro area -6.4% -6.3% -4.1% (estimate) -3.2% (forecast)

General government debt

(% of GDP)

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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 alt 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 alt 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
alt DATA ON TRADE AND COMPETITIVENESS
Current Account Balance (% GDP) alt

EU-27 - 0.7% (2010)

Euro area: - 0.1% (2010)

Share of world market for traded goods alt EU-27
Export 16% (2010)
Import: 17.2% (2010)
(share of world total excluding intra-EU trade)
Share of world total merchandising export alt EU-27 15.06% (2010)
Share of world total commercial services export alt EU-27 24.39% (2010)
Total export (trade in goods and commercial services) alt EU-27 1,821,735 millions of Euro (Extra EU27): 2008
Extra EU 27 trade by product: export alt Machinery and transport equipment: 649.4 millions of euros; Other manufactured goods: 354.2 millions of euros; Chemicals and related products: 253.1 millions of euros; Food, drinks and tobacco: 88.9 millions of euro (2011)
Total import (trade in goods and commercial services) alt EU-27 1,987,875 millions of Euro (Extra EU27): 2008
Extra EU 27 trade by product: import alt Machinery and transport equipment: 440.9 millions of euros; Other manufactured goods: 399 millions of euros; Mineral fuels, lubricants and related materials: 488.1 millions of euros; Chemicals and related products: 152.6 millions of euros (2011)
Export - Main trading partners of the EU-27 for merchandise trade
(extra-EU-27 trade)
alt 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)
alt 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)
alt EU-27: 172,667 millions euro (2008)
Foreign direct investment
outflows
(toward extra EU countries)
alt EU-27: 354,387 millions euro (2008)
alt EU AND POPULATION OVERVIEW
Time zone alt Western European Time (UTC+0)
Central European Time (UTC+1)
Eastern European Time (UTC+3)
Total area alt 4,324,782 km² (2009)
Member states European Union alt 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 alt Croatia, Former Yugoslav Republic of Macedonia, Turkey (2010)
Political centres European Union alt Brussels, Luxembourg, Strasbourg (2009)
Languages alt 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 alt Roman Catholic, Protestant, Orthodox, Muslim, Jewish (2009)
Total population alt EU-27: 501,259,840 (2010, forecast)
Euro area: 329,671,838 (2010, forecast)
Population density (inhabitants per km²) alt EU-27 114.3 (2005)
EU-15 120.9 (2006)
Population age structure alt 0-14 years: 15.44%
15-64 years: 67.22%
65 years and over: 17.34%
Population growth rate alt European Union: 0.108 % (2009 est.)
Life expectancy at birth by gender alt Euro area
Males 77.32 (2006)
Females 83.27 (2006)
Inequality of wealth distribution (Gini Index) alt European Union: 31 in 2007 (0=perfect equality, 100=absolute inequality)
Computer use (Individuals who used a computer within the last year) alt EU-27: 71% (2009)
% of households who have internet access at home alt

EU-27: 65%
Euro area: 66% (2009)

% of households with a broadband connection alt EU-27: 56%
Euro area: 56% (2009)
Cost of living Index alt

Copenhagen: 17th

London: 18th

Paris: 27th

Rome: 34th

Vienna: 36th

Stockholm: 39th

Helsinki: 42nd

Prague: 47th

Amsterdam: 50th

Athens: 53rd

Bratislava: 57th

Dublin: 58th

Madrid: 60th

Brussels: 62nd

Luxembourg: 72nd

Berlin: 84th

Lisbon: 86th

Riga: 88th

Zagreb: 100th

Warsaw: 102nd

Budapest: 113th

Tallinn: 124th

Vilnius: 133rd

Ljubljana: 140th

Bucharest: 152nd

Sofia: 169th (2011)

alt GLOBAL FINANCE RANKINGS AND AWARDS

CENTRAL BANKER REPORT CARD

2012:
2011:
  • Grade B- to Jean-Claude Trichet (2011)
2010:
  • Grade A to Jean-Claude Trichet (2010)
2009:
  • Grade A to Jean-Claude Trichet (2009)
alt ARTICLES AND COUNTRIES REPORTS FROM GLOBAL FINANCE ARCHIVE