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The European Union

Economic Report 2015 - Includes the EU and Eurozone real Gross Domestic Product growth rates, with latest forecasts and historical data, GDP per capita, and GDP composition by sector.

Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about The European Union economic outlook, debt to GDP ratio, international trade performance and population trends. A list of the top 15 banks in the EU is also available. 

 
 
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Central Bank

European Central Bank

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International Reserves

USD 360.8 billion (2016)

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Countries that are part of the Eurosystem (Countries that use the euro)

Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia,  Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, Spain. 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.

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Gross Domestic Product at market prices

European Union

USD 16,970.0 billions (2017 estimate)

Euro Area

USD 12,407.5 billions (2017, estimate)

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GDP PPP (Purchasing Power Parity)

European Union

Intl$ 20,745.3 billions (2017 estimate)

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Real GDP growth
  2010 2011 2012 2013 2014 2015 2016 2017
EU               2.1% 1.7% -0.4% 0.3% 1.6% 2.3% 1.9% 1.7%
Euro area 2.1% 1.5% -0.9% -0.3% 1.1% 2% 1.7% 1.5%
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GDP per capita PPP (Purchasing Power Parity)

European Union

Intl$ 40,610.2 (2017, estimate)

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GDP - composition by sector

European Union

agriculture: 1.6%
industry: 5.5%
services: 3.6% 

(2013 estimate)

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Gross domestic expenditure on R&D (% of GDP)

European Union

2% (2015 provisional)

Euro Area

2.1% (2015 provisional)

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Inflation
  2013 2014 2015 2016 2017
Euro Area 1.3% 0.4% 0.0% 0.3% 1.1%
European Union 1.5% 0.5% 0.0% 0.3% 1.3%

*Estimate

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Unemployment Rate
  2013 2014 2015 2016 2017
Euro Area 12.0% 11.6% 10.9% 10.0% 9.7%
European Union 10.9% 10.2% 9.4% 8.5% N/A

*Estimate

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Household Saving Rates

European Union: 

3.9% (Total 2014)

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Public debt (General government gross debt as a % of GDP)
  2013 2014 2015 2016 2017
Euro Area 93.3% 94.3% 92.5% 91.7% 91%
European Union 87% 88% 86.8% 86.3% 85.7%

*Estimate

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Public deficit (General government net lending/borrowing as a % of GDP)
  2013 2014 2015 2016 2017
Euro Area -0.5% -0.2% 0.1% -0.1% 0%
European Union -1% -0.8% -0.4% -0.3% -0.1%

*Estimate

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Largest companies

HSBC Holdings, Allianz, Volkswagen Group, BNP Paribas, Daimler, AXA Group, Total, Banco Santander, BMW Group, Royal Dutch Shell, Siemens, ING Group, Prudential, Deutsche Telekom, Sanofi, Intesa Sanpaolo, BASF, Bayer, GlaxoSmithKline, Munich Re, EADS, Enel, Telefónica, Unilever, Credit Agricole, Société Générale, BBVA-Banco Bilbao Vizcaya, Generali Group, Orange, Iberdrola, Renault, Nordea Bank, National Grid, VINCI, Lloyds Banking Group, AstraZeneca, British American Tobacco, SAP, Aviva, Imperial Tobacco Group, UniCredit Group, L'Oréal Group, BT Group, Continental, SABMiller, Christian Dior, Deutsche Post, Diageo, Legal & General Group, Fresenius, Schneider Electric, EDF, Saint-Gobain, Volvo Group, Danske Bank, Carrefour, LyondellBasell Industries, CNP Assurances, Danone, Gas Natural Fenosa, Accenture, Heineken Holding, WPP, Ericsson, Natixis, Møller-Maersk, Inditex, Air Liquide, Eaton, Henkel, Linde, Merck, Commerzbank, Reckitt Benckiser Group, SEB, NN Group, Aegon, BAE Systems, CaixaBank, Old Mutual, Peugeot, Svenska Handelsbanken, Nokia, Novo Nordisk, Standard Life, SSE, BP, Swedbank, Tesco, CRH, International Airlines, Philips, Michelin Group, Vodafone, EXOR, Eni, Talanx, Vivendi, Aon, Barclays, GDF SUEZ, Poste Italiane, Erste Group Bank, EDP-Energias de Portugal, Deutsche Bank, Sampo, Royal Bank of Scotland, British Sky Broadcasting, Pernod Ricard, H&M, Compass Group, Rio Tinto, Grupo ACS, Associated British Foods, Deutsche Lufthansa, Teliasonera, HeidelbergCement, Royal Ahold, E.ON, CIC Group, Fiat Chrysler Automobiles, Ageas, Mapfre, Standard Chartered, Thales, Akzo Nobel, Veolia Environnement, Investor AB, RELX Group, Allied Irish Banks, XL Group, Kering, Banco de Sabadell, Publicis Groupe, NXP Semiconductors, Evonik, Atlas Copco, ArcelorMittal, SCA, Bouygues, Adidas, Capgemini, ASML Holding, Repsol, Ferrovial, Liberty Global, Sodexo, Unibail-Rodamco, Atlantia, Delphi Automotive, Telecom Italia, J Sainsbury, Shire, Bankia, Scor, ThyssenKrupp Group, Ingersoll-Rand, Porsche Automobil Holding, Altice, Safran, Bank of Ireland, Deutsche Boerse, RWE Group, Centrica, Snam, Anglo American, Rolls-Royce Holdings, Essilor International, Ryanair Holdings, Valeo, Luxottica Group, Metro Group, CEZ Group, HAL Trust, Kingfisher, AerCap Holdings, CNH Industrial, Kone, UPM-Kymmene, KPN, London Stock Exchange, Schaeffler, Deutsche Annington Immobilien, Land Securities Group, Assa Abloy, OMV Group, Marks & Spencer, PKN Orlen, Skanska, Eiffage, Hermès International, Aena, EnBW-Energie Baden, British Land, Unipol Gruppo, Vestas Wind Systems, Randstad Holding, Beiersdorf, Stora Enso, Johnson Matthey, PKO Bank Polski, Finatis, Bank of Greece, Raiffeisen Bank International, Investec, Mediobanca, Voestalpine, Infineon Technologies, Grupa PZU, Finmeccanica, Schroders, TUI, Carlsberg, Pgnig Group, ATOS, Galp Energia, Neste Oil, Kerry Group, Deutsche Wohnen, Next, Gecina, Financiere de l'Odet, Seagate Technology, Wm Morrison Supermarkets, Jeronimo Martins, Terna, EasyJet, Air France-KLM, Amadeus IT Holdings, W&W-Wüstenrot, Sandvik, VimpelCom, Pentair, St. James's Place, Mondi, Royal Mail, RSA Insurance Group, Abertis, Legrand, Tenaris, Willis Towers Watson, Experian, Bankinter, Autoliv, Perrigo, Uniqa, Brenntag, Vienna Insurance Group, Banco Popolare, Vedanta Resources, ITV, Banca Mediolanum, Banco Popular Espanol, Grifols, SKF Group, Red Eléctrica, Bunzl, Barratt Developments, Colruyt, Delta Lloyd, Pearson, National Bank of Greece, Alstom, ICA Gruppen, Technip, DSM, InterContinental Hotels, Direct Line Insurance, ARM Holdings, Hammerson, United Utilities, Banca MPS, Dassault Systemes, GKN, MOL Hungarian Oil, Electrolux Group, SES, Fortum, Taylor Wimpey, Jyske Bank, Aeroports de Paris, Hexagon, Persimmon, UCB, Pandora, Aareal Bank, ISS, Smurfit Kappa Group, Smith & Nephew, Foncière des Régions, Wolters Kluwer, Klepierre, DCC, Phoenix Group Holdings, Whitbread, UBI Banca, Brait, Intu Properties, OTP Bank, Wärtsilä, Iliad, Dixons Carphone, Wendel, Novozymes, Dexia, Banca Popolare di Milano, PGE, Banco Comercial Portugues, GEA Group, Babcock International Group, Rexel, STRABAG, Lundbergs, 3i Group, OSRAM Licht, Piraeus Bank, Accor, Cattolica Assicurazioni, Nürnberger, DSV, Iliad, Dixons Carphone, Wendel, Novozymes, Dexia, Banca Popolare di Milano, PGE, Banco Comercial Portugues, GEA Group, Babcock International Group, Rexel, STRABAG, Lundbergs, 3i Group, OSRAM Licht, Piraeus Bank, Accor, Cattolica Assicurazioni, Nürnberger, DSV, ProSiebenSat1 Media, Mallinckrodt, Eurazeo, Deutsche Pfandbriefbank, Capita, Eurobank Ergasias, Alpha Bank, Dassault Aviation, Arkema, Banca Popolare dell'Emilia, United Internet, Burberry Group, Acciona, Alfa Laval, Public Power, Securitas, Banco BPI, Areva, DIA, BayWa, Derwent London, Endo, Liberbank, Travis Perkins, Virgin Money Holdings, Segro, Credito Emiliano, Umicore, Admiral Group plc, Banca Popolare di Sondrio, Great Portland Estates, Chicago Bridge & Iron, FCC, Ashtead Group, Banca Transilvania, Banque nationale de Belgique, Coloplast, Enagas, Bolsas & Mercados, Smiths Group, Thomas Cook Group, Banca CARIGE, Prada, Berkeley Group Holdings, Latour Investment, Aurubis, K+S, Permanent TSB Group, Inchcape, Jazz Pharmaceuticals, Andritz, Aroundtown Property Holdings, Eutelsat Communications, ICAP, Credito Valtellinese, Millicom International, DVB Bank, Shaftesbury.

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Top 15 Banks in the EU

HSBC, United Kingdom
BNP Paribas ,France
Credit Agricole, France
Deutsche Bank, Germany
Barclays, United Kingdom
Societe Generale, France
Royal Bank of Scotland, United Kingdom
Groupe BPCE, France
Banco Santander, Spain
ING Netherlands
Sparkassen-Finanzgruppe,  Germany
Lloyds Bank, United Kingdom
UniCredit, Italy
Rabobank, Netherlands
Nordea, Sweden

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Current Account Balance (% GDP)

EU 1.937% (2014 estimate)

Euro Area 2.918% (2014 estimate)

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Share of world market for traded goods

EU
Export 15.33% (2013)
Import: 14.78% (2013)
(share of world total excluding intra-EU trade)

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Share of world total merchandising export

EU 15.33% (2013)

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Share of world total commercial services export

EU 25.19% (2013)

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Total export (trade in goods and commercial services, excluding intra-EU trade)

EU
Merchandise exports US$2,307,007 million
Commercial services exports US$890,777 million

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Export commodities

machinery, motor vehicles, pharmaceuticals and other chemicals, fuels, aircraft, plastics, iron and steel, wood pulp and paper products, alcoholic beverages, furniture

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Total import (trade in goods and commercial services, excluding intra-EU trade)

EU
Merchandise imports US$2,234,603 million
Commercial services imports US$668,467 million

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Import commodities

fuels and crude oil, machinery, vehicles, pharmaceuticals and other chemicals, precious gemstones, textiles, aircraft, plastics, metals, ships

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Export - Main trading partners (excluding intra-EU trade)

US, Switzerland, China, Russian Federation, Turkey (2013)

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Import - Main trading partners

China, Russian Federation, US, Switzerland, Norway (2013)

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Foreign direct investment inflows (from extra EU countries)

EU $246,207 millions (2013)

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Foreign direct investment outflows (toward extra EU countries)

EU $250,460 million (2013)

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Time zone

EU
UTC 0, UTC+1, UTC+2

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Total area

EU
4,324,782 sq km

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Member states European Union

28 countries: Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, UK

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Candidate countries European Union

Albania, Iceland, Montenegro, Serbia, Macedonia, Turkey

 

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Political centres European Union

Brussels (Belgium), Strasbourg (France), Luxembourg note - the European Council and the Council of the European Union meet in Brussels, Belgium; the European Parliament meets in Brussels and Strasbourg, France, and has administrative offices in Luxembourg; the Court of Justice of the European Union meets in Luxembourg

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Languages

Bulgarian, Croatian, Czech, Danish, Dutch, English, Estonian, Finnish, French, Gaelic, German, Greek, Hungarian, Italian, Latvian, Lithuanian, Maltese, Polish, Portuguese, Romanian, Slovak, Slovene, Spanish, Swedish

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Religions

Roman Catholic, Protestant, Orthodox, Muslim, Jewish

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Total population

EU: 507,416,607 (2014 estimate)
EA: 334,570,678 (2014 estimate)
 

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Population density (inhabitants per km²)

EU
116.3 (2012)

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Population age structure

0-14 years: 15.43% (male 40,489,605/female 38,450,957)
15-24 years: 11.21% (male 29,297,915/female 28,019,963)
25-54 years: 42.13% (male 108,580,059/female 106,875,351)
55-64 years: 12.74% (male 31,624,447/female 33,531,109)
65 years and over: 18.49% (male 40,278,139/female 54,287,267) (2014 est.)
 

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Population growth rate

European Union:  0.22% (2014 est.)

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Life expectancy at birth by gender

Male: 77.19 years
Female: 83.01 years
Total population: 80.02 years (2014 est.)
 

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Inequality of wealth distribution (Gini Index)

European Union: 30.6 (2012 est.) 

(0=perfect equality, 100=absolute inequality)

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Computer use (Individuals who used a computer within the last year)

EU: 77% (2013)

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% of households who have internet access at home

EU: 79% (2013)
Euro area: 79% (2013)

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% of households with a broadband connection

EU: 76% (2013)
Euro area: 76% (2013)

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Mercer Cost of living index

London, United Kingdom 12th
Copenhagen, Denmark 15th
Paris, France 27th
Rome, Italy 31st
Vienna, Austria 32nd
Stockholm, Sweden 38th
Amsterdam, Netherlands 39th
Helsinki, Finland 42nd
Dublin, Ireland 51st
Brussels, Belgium 56th
Luxembourg, Luxembourg 56th
Madrid, Spain 63rd
Berlin, Germany 68th
Riga, Latvia 75th
Athens, Greece 78th
Bratislava, Slovakia 84th
Prague, Czech Republic 92nd
Lisbon, Portugal 94th
Tallinn, Estonia 110th
Limassol, Cyprus 113th
Ljubljana, Slovenia 116th
Zagreb, Croatia 120th
Vilnius, Lithuania 130th
Budapest, Hungary 135th
Warsaw, Poland 142nd
Bucharest, Romania 159th
Sofia, Bulgaria 172th

(2014)

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