Economy of the European Union

EU Member States GDP growth rates^[15]

Member State	2005	2006	2007	2008	2009	2010	2011	2012	2005 – 2012
Austria	2.4	3.7	3.7	1.4	−3.8	2.1	2.7	0.8	9.5
Belgium	1.7	2.7	2.9	1.0	−2.8	2.4	1.8	−0.2	9.8
Bulgaria	6.4	6.5	6.4	6.2	−5.5	0.4	1.8	0.8	24.5
Cyprus	3.9	4.1	5.1	3.6	−1.9	1.3	0.5	−2.4	14.7
Czech Republic	6.8	7.0	5.7	3.1	−4.5	2.5	1.9	−1.3	22.6
Denmark	2.4	3.4	1.6	−0.8	−5.7	1.6	1.1	−0.5	3.0
Estonia	8.9	10.1	7.5	−4.2	−14.1	3.3	8.3	3.2	22.5
Finland	2.9	4.4	5.3	0.3	−8.5	3.3	2.8	−0.2	10.0
France	1.9	2.7	2.3	−0.1	−3.1	1.7	1.7	0.0	7.2
Germany	0.7	3.7	3.3	1.1	−5.1	4.2	3.0	0.7	11.6
Greece	2.3	5.5	3.5	−0.2	−3.1	−4.9	−7.1	−5.3	−9.6
Hungary	4.0	3.9	0.1	0.9	−6.8	1.3	1.6	−1.7	2.9
Ireland	5.9	5.4	5.4	−2.1	−5.5	−0.8	1.4	0.9	10.2
Italy	0.9	2.2	1.7	−1.2	−5.5	1.8	0.4	−2.4	−1.3
Latvia	10.1	11.2	9.6	−3.3	−17.7	−0.9	5.5	5.6	17.9
Lithuania	7.8	7.8	9.8	2.9	−14.8	1.5	5.9	3.7	24.6
Luxembourg	5.3	4.9	6.6	−0.7	−4.1	2.9	1.7	0.3	17.6
Malta	3.6	2.6	4.1	3.9	−2.6	2.9	1.7	0.8	17.8
Netherlands	2.0	3.4	3.9	1.8	−3.7	1.6	1.0	−1.0	9.2
Poland	3.6	6.2	6.8	5.1	1.6	3.9	4.5	1.9	38.7
Portugal	0.8	1.4	2.4	0.0	−2.9	1.9	−1.6	−3.2	−1.4
Romania	4.2	7.9	6.3	7.3	−6.6	−1.1	2.2	0.7	21.4
Spain	3.6	4.1	3.5	0.9	−3.7	−0.3	0.4	−1.4	7.0
Slovakia	6.7	8.3	10.5	5.8	−4.9	4.4	3.2	2.0	41.2
Slovenia	4.0	5.8	7.0	3.4	−7.8	1.2	0.6	−2.3	20.1
Sweden	3.2	4.3	3.3	−0.6	−5.0	6.6	3.7	0.8	17.0
United Kingdom	2.8	2.6	3.6	−1.0	−4.0	1.8	1.0	0.3	6.9
European Union	2.1	3.3	3.2	0.3	−4.3	2.1	1.5	−0.3	8.0
Eurozone	1.7	3.2	3.0	0.4	−4.4	2.0	1.4	−0.6	6.7

Energy resources [edit]

The European Union has large coal, oil, and natural gas reserves. There are six oil producers in the European Union, primarily in North Sea oilfields. The United Kingdom by far is the largest producer, however Denmark, Germany, Italy, Romania and the Netherlands all produce oil. If it is treated as a single unit, which is not conventional in the oil markets, the European Union is the seventh largest producer of oil in the world, producing 3,424,000 (2001) barrels a day.

It is also the world's second largest consumer of oil, consuming much more than it can produce, at 14,590,000 (2001) barrels a day. Much of the difference comes from Russia and the Caspian Sea basin. All countries in the EU have committed to the Kyoto Protocol, and the European Union is one of its biggest proponents. The European Commission published proposals for the first comprehensive EU energy policy on 10 January 2007.

see also: Renewable energy in the European Union and Category:Energy in the European Union

Trade [edit]

  EU

  Top 10 trading partners (2010)

  Top 11–20 trading partners (2010)

EU imports, exports and balance of trade in goods from 2007 to 2012 (in billions of euro)

EU current account(quarterly data ) in millions of euro.

The European Union is the largest exporter in the world^[16] and as of 2008 the largest importer of goods and services.^[17] Internal trade between the member states is aided by the removal of barriers to trade such as tariffs and border controls. In the eurozone, trade is helped by not having any currency differences to deal with amongst most members.^[18]

The European Union Association Agreement does something similar for a much larger range of countries, partly as a so-called soft approach ('a carrot instead of a stick') to influence the politics in those countries. The European Union represents all its members at the World Trade Organization (WTO), and acts on behalf of member states in any disputes. When the EU negotiates trade related agreement outside the WTO framework, the subsequent agreement must be approved by each individual EU member.^[18]

Main trading partners(2012)[19]

Rank Partners Imports (million euro) % (of total) Exports (million euro) % (of total) Total trade (million euro) % (of total) - Total EU 1,791,727 100% 1,686,774 100% 3,478,501 100% 1  United States 205,778 11.5% 291,880 17.3% 497,658 14,3% 2  China 289,915 16,2% 143,874 8,5% 433,789 12,5% 3  Russia 213,212 11,9% 123,262 7,3% 336,474 9,7% 4  Switzerland 104,544 5.8% 133,341 7.9% 237,885 6,8% 5  Norway 100,437 5,6% 49,821 3.0% 150,258 4,3% 6  Turkey 47,789 2,7% 75,172 4,5% 122,961 3,5% 7  Japan 63,813 3.6% 55,490 3,3% 119,303 3,4% 8  Brazil 37,090 2,1% 39,595 2,3% 76,685 2,2% 9  India 37,295 2.1% 38,468 2,3% 75,764 2.2% 10  South Korea 37,861 2,1% 37,763 2,2% 75,624 2,2% 11  Saudi Arabia 34,594 1.9% 29,985 1,8% 64,580 1,9% 12  Canada 30,514 1,5% 31,291 1,9% 61,805 1,8% 13  Algeria 32,597 1,8% 21,008 1,2% 53,605 1,5% 14  Singapore 21,517 1,2% 30,342 1,8% 51,859 1,5% 15  Australia 14,479 0,8% 33,845 2,0% 48,324 1,4% 16  Mexico 19,364 1,1% 27,920 1,7% 47,284 1,4% 17  South Africa 20,545 1,1% 26,622 1,6% 47,167 1,4% 18  United Arab Emirates 8,294 0,5% 37,119 2,2% 45,413 1,3% 19  Nigeria 32,937 1,8% 11,444 0,7% 44,382 1,3% 20  Hong Kong 10,546 0,6% 33,655 2,2% 44,201 1,3% 21  Libya 32,771 1,8% 6,375 0,4% 39,145 1,1% 22  Ukraine 14,588 0,8% 23,795 1,4% 38,383 1,1% 23  Taiwan 22,524 1,3% 15,797 0,9% 38,321 1,1% 24  Malaysia 20,342 1.1% 14,530 0,9% 34,872 1,0% 25  Thailand 16,924 0,9% 14,799 0,9% 31,723 0,9% 26  Kazakhstan 24,413 1,4% 6,912 0,4% 31,325 0,9% 27  Israel 12,634 0,7% 17,023 1,0% 29,657 0,9% 28  Morocco 9,134 0,5% 16,938 1,0% 26,072 0,7% 29  Indonesia 15,396 0,9% 9,648 0,6% 25,044 0,7% 30  Egypt 8,461 0,5% 15,413 0,9% 23,874 0,7% 31  Vietnam 18,514 1,0% 5,351 0,3% 23,865 0,7% 32  Tunisia 9,515 0,5% 11,083 0,7% 20,599 0,6% 33  Argentina 9,926 0,6% 8,558 0,5% 18,483 0,5% 34  Chile 9,634 0,5% 8,486 0,5% 18,120 0,5% 35  Iraq 12,758 0,7% 4,653 0,3% 17,412 0,5% 36  Azerbaijan 13,852 0,8% 2,945 0,2% 16,796 0,5% 37  Croatia 5,471 0,3% 11,194 0,7% 16,664 0,5% 38  Qatar 10,151 0,6% 5,965 0,4% 16,115 0,5% 39  Colombia 8,591 0,5% 5,542 0,3% 14,133 0,4% 40  Serbia 4,712 0,3% 9,117 0,5% 13,829 0,4% 41  Angola 7,095 0,4% 6,200 0,4% 13,296 0,4% 42  Iran 5,527 0,3% 7,356 0,4% 12,883 0,4% 43  Belarus 4,542 0,3% 7,839 0,5% 12,382 0,4% 44  Venezuela 4,510 0,3% 6,533 0,4% 11,043 0,3% 45  Bangladesh 9,212 0,5% 1,533 0,1% 10,745 0,3% 46  Kuwait 5,864 0,3% 4,532 0,3% Kuwait 0,3% 47  Philippines 5,128 0,3% 4,791 0,3% 9,919 0,3% 48  Gibraltar 578 0,0% 9,233 0,5% 9,810 0,3% 49  Peru 6,294 0,4% 3,478 0,2% 9,772 0,3% 50  Pakistan 4,073 0,2% 4,101 0,2% 8,174 0,2%

Main trading partners 2007–2010

Main trade partners[20]	2007			2008			2009			2010
	Exports (million euro)	Imports (million euro)	Total Trade (million euro)	Exports	Imports	Total Trade	Exports	Imports	Total Trade	Exports	Imports	Total Trade
Total EU	1,240,556	1,435,0154	2,675,571	1,309,885	1,566,309	2,876,194	1,097,142	1,206,495	2,303,637	1,347,948	1,506,934	2,854,882
United States	259,178	174,114	433,292	250,124	186,777	436,901	205,538	159,212	364,750	242,173	170,111	412,284
China	71,785	232,624	304,409	78,417	247,933	326,350	82,426	214,092	296,518	113,251	282,508	395,759
Russia	89,067	144,980	234,047	105,028	178,144	283,172	65,614	117,741	183,355	86,133	158,553	244,686
Switzerland	92,610	76,641	169,251	98,006	80,330	178,366	88,558	73,842	162,400	105,375	84,307	189,682
Norway	43,457	76,578	120,035	43,767	95,931	139,388	37,528	68,895	106,423	41,881	79,229	121,110
Japan	43,622	78,392	122,014	42,267	75,074	117,341	36,037	56,738	92,775	43,852	65,766	109,618
Turkey	52,643	47,028	99,671	54,136	46,020	100,156	44,123	36,163	80,286	61,219	42,307	103,526
India	26,586	29,177	55,763	31,603	29,545	61,148	27,593	25,448	53,041	34,804	33,193	67,997
South Korea	24,708	41,338	66,046	25,568	39,572	65,140	21,637	32,298	53,935	27,944	39,079	67,023
Brazil	21,256	32,511	54,022	26,349	35,896	62,245	21,629	25,723	47,352	31,314	32,431	63,745
Canada	25,262	22,318	47,944	26,092	23,868	49,960	22,460	17,768	40,228	26,612	20,186	46,798
Singapore	20,456	18,393	38,939	22,059	16,166	38,225	20,430	14,633	35,063	24,370	18,707	43,077
South Africa	20,374	20,870	41,244	20,222	22,362	42,584	16,121	14,985	31,106	21,433	17,937	39,370
Saudi Arabia	19,898	18,609	38,507	21,293	22,042	43,335	11,678	19,565	31,243	23,129	16,180	39,309
Taiwan	13,319	26,031	39,350	11,596	24,076	35,672	10,030	17,855	27,885	14,772	24,156	38,928
Hong Kong	20,846	10,973	31,819	21,106	11,503	32,609	19,664	9,535	29,199	26,940	10,674	37,614
Australia	22,567	11,749	34,316	25,178	11,195	36,373	21,858	8,091	29,949	26,770	9,791	36,561
Algeria	11,244	20,584	31,828	15,363	28,259	43,622	14,777	17,411	32,188	15,534	20,916	36,450
Libya	4,155	27,404	31,559	5,751	35,265	41,013	6,313	20,882	27,195	6,709	28,806	35,515
Mexico	20,956	12,110	33,066	21,934	13,721	36,655	16,002	10,040	26,042	21,338	13,157	34,495

Unemployment [edit]

Unemployment rate by country in the EU-27 in March 2009

Unemployment rates in Europe's major economies.

The seasonally adjusted unemployment rate in the European Union (EU27) in March 2009 was 8.3% compared to 6.7% in March 2008. The Eurozone (EA16) unemployment figure for January 2009 was 8.2% compared to 7.3% in January 2008.^[21] The unemployment rate (EU25) had previously declined in prior years from 8.9% in March 2005 to 8.4% in March 2006 to 7.3% in March 2007.^[22]

The rate varies widely by member state. There has been a steep upturn in the unemployment rate since 2008 due to the worldwide credit crunch and following recession. The countries within the EU which were most affected were Spain, Ireland and the Baltic countries with the unemployment rate doubling or in case of the Baltic countries nearly tripling. By comparison in March 2009 the United States had an unemployment rate of 8.6% (2008: 5.1; 2007: 4.4; 2006: 4.7) which was higher than the EU-27's unemployment rate but lower than the EU-16 Eurozone rate of 8.9%. Japan's unemployment rate remained comparatively steady at 4.4% (2008: 3.9; 2007: 4.0; 2006: 4.1).^[22][23][24] The following tables show the current unemployment rate of all Member States for March 2009 with comparisons to March 2008, 2007, 2006 and 2005 and comparisons to the United States and Japan:

Unemployment	2005-03	2006-03	2007-03	2008-03	2009-03	2010-03	2011-03	2012-03
Austria	5.1	5.1	4.5	4.1	4.5	4.9	4.4	4.2
Belgium	8.4	8.2	7.7	6.9	7.3	8.1	7.7	7.2
Denmark	5.4	4.3	4.1	3.0	5.7	7.6	7.5	7.7
Finland	8.5	7.9	7.0	6.3	7.4	9.0	8.0	7.6
France	9.7	9.1	8.6	7.6	8.8	10.1	9.5	10.1
Germany	9.8	8.7	8.6	7.4	7.6	7.3	6.2	5.6
Greece	9.9	9.6	8.6	7.8	7.8	10.2	13.8	22.1
Ireland	4.5	4.2	4.6	5.6	10.6	13.2	14.7	14.8
Italy	7.8	7.7	6.1	6.6	6.9	8.8	8.3	10.3
Luxembourg	4.3	4.8	4.9	4.4	6.1	5.6	4.3	5.0
Netherlands	4.9	4.0	3.4	2.8	2.8	4.1	4.2	5.0
Portugal	7.4	7.6	8.2	7.6	8.5	10.5	12.6	15.1
Spain	9.9	8.7	8.1	9.5	17.4	19.1	20.7	24.1
Sweden	6.3	7.2	6.6	5.8	8.0	8.7	7.7	7.3
United Kingdom	4.6	5.0	5.5	5.2	6.6	7.9	7.7	8.1
Bulgaria			7.5	6.1	5.9	8.7	11.4	12.1
Cyprus	5.1	5.2	4.1	3.7	4.9	6.7	7.3	10.7
Czech Republic	8.0	7.7	5.6	4.4	5.5	7.9	6.9	6.8
Estonia	8.8	5.3	4.9	4.0	11.1	15.5	14.3	10.6
Hungary	6.8	7.4	7.3	7.6	9.2	11.0	11.8	11.1
Latvia	9.1	7.6	6.4	6.1	16.1	22.3	16.2	15.4
Lithuania	9.2	6.4	4.6	4.3	15.1	15.8	16.3	13.6
Malta	7.2	8.1	6.6	5.8	6.7	6.9	6.3	6.1
Poland	18.0	16.8	10.3	7.4	7.7	9.1	9.3	9.9
Romania			6.6	6.2	5.8	7.6	7.0	7.2
Slovakia	16.7	15.7	11.3	9.9	10.5	14.1	14.0	13.7
Slovenia	6.4	6.2	5.2	4.5	5.0	6.2	8.1	8.1
European Union	8.9	8.4	7.3	6.7	8.3	9.6	9.5	10.3
United States	5.1	4.7	4.4	5.1	8.5	9.7	8.8	8.2
Japan	4.5	4.1	4.0	3.9	4.4	4.8	4.6	4.5

Industries [edit]

The services sector is by far the most important sector in the European Union, making up 69.4% of GDP, compared to the manufacturing industry with 28.4% of GDP and agriculture with only 2.3% of GDP.

Agriculture [edit]

The agricultural sector is supported by subsidies from the European Union in the form of the Common Agricultural Policy (CAP). This currently represents 40–50% of the EU's total spending. It guarantees a minimum price for farmers in the EU. This is criticised as a form of protectionism, inhibiting trade, and damaging developing countries; one of the most vocal opponents is the UK, the third largest economy within the bloc, which has repeatedly refused to give up the annual UK rebate unless the CAP undergoes significant reform; France, the biggest benefactor of the CAP and the bloc's second largest economy, is its most vocal proponent.

Tourism [edit]

The European Union is a major tourist destination, attracting visitors from outside of the Union and citizens travelling inside it. Internal tourism is made more convenient for the citizens of some EU member states by the Schengen treaty and the Euro. All citizens of the European Union are entitled to travel to any member state without the need of a visa.

France is the world's number one tourist destination for international visitors, followed by Spain, Italy and the United Kingdom at 2nd, fifth and sixth spots respectively. It is worth noting however a significant proportion of international visitors to EU countries are from other member states.

London, the capital of the United Kingdom is also the world's most visited city and the highest in tourism receipts, before Paris.^[25]

Companies [edit]

The European Union's member states are the birthplace of many of the world's largest leading multinational companies, and home to its global headquarters. Among these are distinguished companies ranked first in the world within their industry/sector, like Allianz, which is the largest financial service provider in the world by revenue; WPP plc which is the world's largest advertising agency by revenue; Airbus, which is the world's largest aircraft manufacturer;^[26] Air France-KLM, which is the largest airline company in the world in terms of total operating revenues; Amorim, which is the world's largest cork-processing and cork producer company; ArcelorMittal, which is the largest steel company in the world; Inditex which is the biggest fashion group in the world; Groupe Danone, which has the world leadership in the dairy products market.

Anheuser-Busch InBev is the largest beer company in the world; L'Oréal Group, which is the world's largest cosmetics and beauty company; LVMH, which is the world's largest luxury goods conglomerate; Nokia Corporation, which is the world's largest manufacturer of mobile telephones; Royal Dutch Shell, which is one of the largest energy corporations in the world; and Stora Enso, which is the world's largest pulp and paper manufacturer in terms of production capacity, in terms of banking and finance the EU has some of the worlds largest notably HSBC and Grupo Santander, the largest bank in Europe in terms of Market Capitalisation.

Many other European companies rank among the world's largest companies in terms of turnover, profit, market share, number of employees or other major indicators. A considerable number of EU-based companies are ranked among the worlds' top-ten within their sector of activity. Europe is also home to many prestigious car companies such as Audi, Mercedes, Jaguar Land Rover, Volkswagen, BMW group as well as volume manufacturers such as Fiat, PSA group and Renault.

Gini index [edit]

To date, one of the most commonly used measures of income inequality is the Gini index. The Gini coefficient measures income inequality on a scale from 0 to 1. On this scale 0 represents perfect equality with everyone having exactly the same income and 1 represents perfect inequality with one person having all income. According to the UN (UN), Gini index ratings for countries range from 0.247 in Denmark to 0.743 in Namibia. Most post-industrial nations had a Gini coefficient in the range 0.25 to 0.40. In 2005 the Gini index for the EU was estimated at 0.31^[27] and as a comparison the USA had 0.463.^[28]

Regional variation [edit]

Comparing the richest areas of the EU can be a difficult task. This is because the NUTS 1 & 2 regions are not homogenous, some of them being very large regions, such as NUTS-1 Hesse (21,100 km²) or NUTS-1 Île-de-France (12,011 km²), whilst other NUTS regions are much smaller, for example NUTS-1 Hamburg (755 km²) or NUTS-1 Greater London (1,580 km²). An extreme example is Finland, which is divided for historical reasons into mainland Finland with 5.3 million inhabitants and Åland, an autonomous archipelago with a population of 27,000, or about the population of a small Finnish city.

One problem with this data is that some areas, including Greater London, are subject to a large number of commuters coming into the area, thereby artificially inflating the figures. It has the effect of raising GDP but not altering the number of people living in the area, inflating the GDP per capita figure. Similar problems can be produced by a large number of tourists visiting the area. The data is used to define regions that are supported with financial aid in programs such as the European Regional Development Fund. The decision to delineate a Nomenclature of Territorial Units for Statistics (NUTS) region is to a large extent arbitrary (i.e. not based on objective and uniform criteria across Europe), and is decided at European level (See also: Regions of the European Union).

Top 10: economically strongest NUTS-1 and NUTS-2 regions [edit]

The 10 NUTS-1 and NUTS-2 regions with the highest GDP per capita are almost all, except two, in the first fifteen member states: Prague and Bratislava are the only ones in the 12 new member states that joined in May 2004 and January 2007.^[29] The leading regions in the ranking of NUTS-2 regional GDP per inhabitant in 2008 were Inner London in the United Kingdom (343% of the average), the Grand Duchy of Luxembourg (279%) and Bruxelles/Brussels in Belgium (216%). Figures for these three regions, however, are artificially inflated by the commuters who do not reside in these regions ("Net commuter inflows in these regions push up production to a level that could not be achieved by the resident active population on its own. The result is that GDP per inhabitant appears to be overestimated in these regions and underestimated in regions with commuter outflows."^[30]).

Another example of artificial inflation is Groningen. The calculated GDP per capita is very high due to the large natural gas reserves in this region. However, Groningen is in fact one of the poorest parts in the Netherlands. Among the 40 NUTS-2 regions exceeding the 125% level, ten were in Germany, five in the Netherlands, four each in Austria and United Kingdom, three each in Spain and Italy, two each in Belgium and Finland, one each in the Czech Republic, Denmark, Ireland, France, Slovakia and Sweden, as well as the Grand Duchy of Luxembourg. The NUTS Regulation lays down a minimum population size of 3 million and a maximum size of 7 million for the average NUTS-1 region, whereas a minimum of 800,000 and a maximum of 3 million for NUTS-2 regions ¹ [21]. This definition, however, is not respected by Eurostat. E.g.: the région of Île-de-France, with 11.6 million inhabitants, is treated as a NUTS-2 region, while the state Free Hanseatic City of Bremen, with only 664,000 inhabitants, is treated as a NUTS-1 region.

Rank NUTS-2 Region Member state GDP per capita in Euros As % of EU-27 average 1. Inner London  United Kingdom 80,300 328% 2. Luxembourg  Luxembourg 65,200 266% 3. Bruxelles-Cap., Brussels Hfdst.  Belgium 54,700 223% 4. Hamburg  Germany 49,600 203% 5. Île-de-France  France 44,200 180% 6. Groningen  Netherlands 44,100 180% 7. Bratislavský kraj  Slovakia 43,100 176% 8. Praha  Czech Republic 42,200 172% 9. Stockholm  Sweden 41,100 168% 10. Vienna  Austria 40,300 165%

Rank NUTS-1 Region Member state GDP per capita in Euros As % of EU-27 average 1. Luxembourg  Luxembourg 65,200 266% 2. Bruxelles-Cap., Brussels Hfdst.  Belgium 54,700 223% 3. Hamburg  Germany 49,600 203% 4. London  United Kingdom 45,800 187% 5. Île-de-France  France 44,200 180% 6. Bremen  Germany 38,800 158% 7. Hessen  Germany 34,800 142% 8. West-Nederland  Netherlands 34,500 141% 9. Östra Sverige  Sweden 34,400 141% 10. Åland  Finland 33,500 137% 11. Bayern  Germany 33,000 135% 12. Ostösterreich  Austria 32,300 132% 13. Westösterreich  Austria 32,300 132% 14. Basque Country  Spain 32,200 132% 15. Baden-Württemberg  Germany 32,000 131% 16. Ireland  Ireland 31,600 129% 17. Denmark  Denmark 31,300 128% 18. Noord-Holland  Netherlands 31,200 127% 19. Zuid-Nederland  Netherlands 30,900 126% 20. Nord Ovest  Italy 30,100 123%

Source: Eurostat^[30]

Economically weakest NUTS-2 regions [edit]

The twenty lowest regions in the ranking in 2008 were all in Bulgaria, Romania, Poland and Hungary, with the lowest figures recorded in Severozapaden in Bulgaria (27% of the average), followed by Nord-Est (29%) in Romania, Severen tsentralen in Bulgaria (29%) and Yuzhen tsentralen in Bulgaria (31%). Among the 64 regions below the 75% level, fifteen were in Poland, seven each in the Czech republic and Romania, six each in Bulgaria and Hungary, four each in Italy and Portugal, three each in Greece, France (all overseas departments) and Slovakia, two in the United Kingdom, one in Spain, as well as Estonia, Latvia and Lithuania.^[29]

Rank NUTS-2 Region Member state GDP per capita in Euros As % of EU-27 average 1. Severozapaden  Bulgaria 6,500 26% 2. Severen tsentralen  Bulgaria 7,000 29% 3. Nord-Est  Romania 7,000 29% 4. Yuzhen tsentralen  Bulgaria 7,500 30% 5. Severoiztochen  Bulgaria 8,700 36% 6. Yugoiztochen  Bulgaria 8,700 36% 7. Sud-Vest Oltenia  Romania 8,800 36% 8. Sud-Est  Romania 9,400 38% 9. Sud – Muntenia  Romania 9,500 39% 9. Észak Magyaroszág  Hungary 9,700 40%

Rank NUTS-1 Region Member state GDP per capita in Euros As % of EU-27 average 1. Severna i Iztochna Bulgaria  Bulgaria 7,800 32% 2. Macroregiunea Doi  Romania 8,000 33% 3. Alföld és Észak  Hungary 10,100 41% 4. Macroregiunea Unu  Romania 10,500 43% 5. Macroregiunea Patru  Romania 10,700 44% 6. Region Wschodni  Poland 10,700 44% 7. Region Północny  Poland 13,100 54% 8. Latvia  Latvia 13,200 54% 9. Dunántúl  Hungary 13,600 56% 10. Yugozapadna i Yuzhna Tsentralna Bulgaria  Bulgaria 13,800 56% 11. Region Północno-Zachodni  Poland 14,700 60% 12. Lithuania  Lithuania 14,900 61% 13. Region Południowy  Poland 15,000 61% 14. Estonia  Estonia 15,500 63% 15. Region Południowo-Zachodni  Poland 15,900 65% 16. Départements d'Outre-Mer  France 16,300 66% 17. Sud  Italy 16,500 67% 18. Macroregiunea Trei  Romania 16,700 68% 19. Northern Greece  Greece 16,700 68% 20. Isole  Italy 16,900 69%

Source: Eurostat^[30]

Richest and poorest NUTS regions (GDP PPP 2010) [edit]

Richest and poorest NUTS-2 regions (GDP PPP 2010) [edit] Member State Region GDP per capita in Euros As % of EU-27 average  European Union 24,500 100.0%  Austria 31,100 127% Richest Wien 40,300 165% Salzburg 35,800 146% Vorarlberg 33,000 135% Tirol 32,300 132% Oberösterreich 30,800 126% Steiermark 27,000 110% Kärnten 26,200 107% Niederösterreich 25,700 105% Poorest Burgenland 21,200 87%  Belgium 29,200 119% Richest Bruxelles-Cap., Brussels Hfdst. 54,700 223% Antwerpen 33,500 137% Brabant Wallon 32,000 131% Vlaams Brabant 30,800 126% West-Vlaanderen 27,400 112% Oost-Vlaanderen 26,300 107% Limburg 23,800 97% Liége 21,600 88% Namur 20,900 85% Luxembourg 19,600 80% Poorest Hainaut 19,000 78%  Bulgaria 10,700 44% Richest Yugozapaden 18,400 75% Severoiztochen 8,700 36% Yugoiztochen 8,700 36% Yuzhen tsentralen 7,500 30% Severen tsentralen 7,000 29% Poorest Severozapaden 6,500 26%  Cyprus 23,500 97%  Czech Republic 19,500 80% Richest Praha 42,200 172% Jihovýchod 17,500 72% Střední Čechy 17,200 70% Jihozápad 16,900 69% Moravskoslezsko 16,500 67% Severovýchod 16,000 65% Střední Morava 15,600 64% Poorest Severozápad 15,400 63%  Denmark 31,300 128% Richest Hovedstaden 38,400 157% Midtjylland 28,500 116% Syddanmark 27,900 114% Nordjylland 26,800 110% Poorest Sjælland 22,200 91%  Estonia 15,500 63%  Finland 27,700 113% Richest Helsinki-Uusimaa 37,800 154% Åland 33,500 137% Länsi-Suomi 25,000 102% Etelä-Suomi 23,500 96% Poorest Pohjois-Suomi 22,500 92%  France 26,500 108% Richest Île-de-France 44,200 180% Rhône-Alpes 26,400 108% Provence-Alpes-Côte d'Azur 25,100 102% Alsace 24,500 100% Pays de la Loire 23,300 95% Aquitaine 23,200 95% Midi-Pyrénées 23,100 95% Upper Normandy 23,000 94% Champagne-Ardenne 22,500 92% Centre 22,100 90% Burgundy 22,000 90% Corsica 21,900 90% Brittany 21,600 88% Nord-Pas-de-Calais 21,300 87% Poitou-Charentes 21,100 86% Auvergne 21,000 86% Franche-Comté 21,000 86% Lower Normandy 20,600 84% Languedoc-Roussillon 20,500 84% Lorraine 20,300 83% Limousin 20,100 82% Picardy 20,200 83% Martinique 18,700 76% Réunion 16,600 68% Guadeloupe 15,200 62% Poorest French Guiana 13,000 53%  Germany 29,000 119% Richest Hamburg 49,600 203% Oberbayern 40,000 163% Darmstadt 39,400 161% Bremen 38,800 158% Stuttgart 35,200 144% Düsseldorf 33,000 135% Karlsruhe 32,300 132% Mittelfranken 31,400 128% Tübingen 30,500 124% Köln 30,300 124% Oberpfalz 29,700 122% Unterfranken 29,200 119% Schwaben 28,800 118% Niederbayern 28,600 117% Hannover 28,500 116% Braunschweig 28,200 115% Detmold 28,200 115% Kassel 28,000 115% Berlin 27,400 112% Saarland 27,300 112% Rheinhessen-Pfalz 27,300 112% Freiburg 27,100 111% Oberfranken 27,000 111% Arnsberg 26,200 107% Gießen 26,200 107% Münster 26,100 107% Weser-Ems 26,100 107% Koblenz 25,000 102% Schleswig-Holstein 24,200 99% Trier 23,400 96% Leipzig 22,300 91% Dresden 21,300 87% Lüneburg 20,400 84% Brandenburg 20,300 83% Sachsen-Anhalt 20,300 83% Chemnitz 20,200 83% Mecklenburg-Vorpommern 19,900 81% Poorest Thüringen 19,700 80%  Greece 21,400 87% Richest Αττικής – Attica 28,200 115% Βορείου Αιγαίου – North Aegean 26,300 107% Στερεά Ελλάδα – Central Greece 19,800 81% Δυτικής Μακεδονίας – West Macedonia 19,600 80% Κρήτη – Crete 19,500 80% Ιονίων Νησιών – Ionian Islands 18,700 76% Πελοποννήσου – Peloponnese 17,400 71% Νοτίου Αιγαίου – South Aegean 17,200 70% Κεντρικής Μακεδονίας – Central Macedonia 16,800 68% Ανατολικής Μακεδονίας και Θράκης – East Macedonia and Thrace 16,300 66% Θεσσαλίας – Thessaly 15,900 65% Δυτική Ελλάδα – West Greece 15,100 62% Poorest Ηπείρου – Hepirus 15,000 61%  Hungary 15,900 65% Richest Közép Magyarország 26,100 107% Nyugat Dunántúl 15,900 65% Közép Dunántúl 13,900 57% Dél Dunántúl 10,800 44% Dél Alföld 10,400 42% Észak Alföld 10,100 41% Poorest Észak Magyaroszág 9,700 40%  Ireland 31,600 129% Richest Southern and Eastern 35,600 145% Poorest Border, Midland and Western 20,700 85%  Italy 24,700 101% Richest South Tyrol 35,600 146% Valle d’Aosta 32,400 133% Lombardia 32,300 132% Emilia–Romagna 29,800 122% Trentino 29,700 121% Lazio 28,600 117% Veneto 28,500 116% Friuli-Venezia Giulia 28,100 115% Toscana 26,700 109% Piemonte 26,600 109% Liguria 25,800 106% Marche 24,900 102% Umbria 22,800 93% Abruzzo 20,600 84% Molise 19,500 80% Sardegna 19,000 78% Basilicata 17,200 70% Puglia 16,300 67% Sicilia 16,200 66% Calabria 15,800 65% Poorest Campania 15,600 64%  Latvia 13,200 54%  Lithuania 14,900 61%  Luxembourg 65,200 266%  Malta 21,000 86%  Netherlands 32,100 131% Richest Groningen 44,100 180% Utrecht 38,000 155% Noord-Holland 36,800 150% Noord-Brabant 32,000 131% Zuid-Holland 32,000 131% Zeeland 30,000 123% Limburg 28,600 117% Overijssel 28,300 116% Gelderland 27,000 110% Friesland 25,500 104% Drenthe 23,500 96% Poorest Flevoland 22,800 93%  Poland 15,300 63% Richest Mazowieckie 24,900 102% Dolnośląskie 17,200 70% Śląskie 16,400 67% Wielkopolskie 15,900 65% Pomorskie 14,700 60% Łódzkie 14,100 58% Zachodniopomorskie 13,300 54% Małopolskie 13,000 53% Lubuskie 12,900 53% Kujawsko-Pomorskie 12,800 52% Opolskie 12,200 50% Świętokrzyskie 11,600 47% Warmińsko-Mazurskie 11,200 46% Podlaskie 11,100 45% Lubelskie 10,300 42% Poorest Podkarpackie 10,300 42%  Portugal 19,700 80% Richest Lisboa 27,400 112% Madeira 25,500 104% Algarve 20,300 83% Açores 18,500 75% Alentejo 18,100 74% Centro 16,300 67% Poorest Norte 15,800 65%  Romania 11,400 47% Richest Bucureşti – Ilfov 27,100 111% Vest 12,900 53% Centru 10,900 45% Nord-Vest 10,200 42% Sud – Muntenia 9,500 39% Sud-Est 9,400 38% Sud-Vest Oltenia 8,800 36% Poorest Nord-Est 7,000 29%  Slovakia 17,900 73% Richest Bratislavský kraj 43,100 176% Západné Slovensko 16,700 68% Stredné Slovensko 14,600 59% Poorest Východné Slovensko 12,100 49%  Slovenia 20,500 84% Richest Zahodna Slovenija 24,500 100% Poorest Vzhodna Slovenija 17,000 69%  Spain 24,300 99% Richest Basque Country 32,200 132% Madrid 31,600 129% Navarre 30,800 126% Catalonia 28,400 116% Aragón 27,100 111% La Rioja 27,000 110% Islas Baleares 25,600 105% Cantabria 23,700 97% Castilla y León 23,500 96% Asturias 22,700 93% Galicia 22,000 90% Ceuta 21,600 88% Comunidad Valenciana 21,500 88% Islas Canarias 20,800 85% Murcia 20,300 83% Melilla 19,700 80% Castilla-La Mancha 19,400 79% Andalucía 18,500 75% Poorest Extremadura 16,900 69%  Sweden 30,200 124% Richest Stockholm 41,100 168% Övre Norrland 30,800 126% Mellersta Norrland 29,400 120% Västsverige 28,600 117% Småland med öarna 26,400 108% Sydsverige 26,200 107% Norra Mellansverige 26,000 106% Poorest Östra Mellansverige 25,800 105%  United Kingdom 27,200 111% Richest Inner London 80,300 328% North Eastern Scotland 39,500 162% Berkshire, Buckinghamshire & Oxfordshire 34,900 143% Cheshire 28,800 118% Gloucestershire, Wiltshire & Bristol 28,200 115% Surrey, East & West Sussex 27,900 114% Bedfordshire & Hertfordshire 27,500 113% Hampshire & Isle of Wight 26,700 109% Eastern Scotland 26,600 109% Leicestershire, Rutland & Northamptonshire 25,400 104% East Wales 24,600 100% East Anglia 24,500 100% South Western Scotland 24,300 99% Greater Manchester 23,500 96% Outer London 23,400 95% West Midlands 23,300 95% West Yorkshire 23,300 95% Cumbria 23,000 94% Herefordshire, Worcestershire & Warwickshire 23,000 94% North Yorkshire 22,800 93% Derbyshire & Nottinghamshire 22,500 92% Dorset & Somerset 22,500 92% Kent 22,000 90% Essex 21,800 89% Northumberland and Tyne & Wear 21,500 88% Devon 21,400 87% Highlands & Islands 21,400 87% Northern Ireland 21,000 86% Lancashire 20,400 83% East Yorkshire & Northern Lincolnshire 19,900 82% Shropshire & Staffordshire 19,900 81% Merseyside 19,800 81% South Yorkshire 19,800 81% Lincolnshire 19,100 78% Tees Valley & Durham 18,900 77% Cornwall & Isles of Scilly 17,600 72% Poorest West Wales & The Valleys 17,200 70%

Richest and poorest NUTS-1 regions (GDP PPP 2010) [edit] Member State Region GDP per capita in Euros As % of EU-27 average  European Union 24,500 100.0%  Austria 31,100 127% Richest Ostösterreich 32,300 132% Westösterreich 32,300 132% Poorest Südösterreich 26,700 109%  Belgium 29,200 119% Richest Bruxelles-Cap., Brussels Hfdst. 54,700 223% Vlaams Gewest 28,900 118% Poorest Région Wallonne 21,500 88%  Bulgaria 10,700 44% Richest Yugozapadna i Yuzhna Tsentralna Bulgaria 13,800 56% Poorest Severna i Iztochna Bulgaria 7,800 32%  Cyprus 23,600 97%  Czech Republic 19,500 80%  Denmark 31,300 128%  Estonia 15,500 63%  Finland 27,700 118% Richest Åland 33,500 137% Poorest Manner-Suomi 27,700 113%  France 26,500 108% Richest Île-de-France 44,200 180% Centre-est 25,400 104% Méditerranée 23,400 96% Sud-ouest 22,800 93% Ouest 22,200 91% Est 21,900 90% Bassin parisien 21,800 89% Nord-Pas-de-Calais 21,300 87% Poorest Départements d'Outre-Mer 16,300 66%  Germany 29,000 119% Richest Hamburg 49,600 203% Bremen 38,800 158% Hessen 34,800 142% Bayern 33,000 135% Baden-Württemberg 32,000 131% Nordrhein-Westfalen 29,400 120% Saarland 27,300 114% Berlin 27,400 112% Niedersachsen 26,000 106% Rheinland-Pfalz 25,900 106% Schleswig-Holstein 24,200 99% Sachsen 21,100 86% Sachsen-Anhalt 20,300 85% Thüringen 19,700 84% Brandenburg 20,300 83% Poorest Mecklenburg-Vorpommern 19,900 81%  Greece 21,400 87% Richest Attica 28,200 115% Aegean Islands, Crete 20,900 82% Central Greece 17,000 69% Poorest Northern Greece 16,700 68%  Hungary 15,900 65% Richest Közép Magyarország 26,100 107% Dunántúl 13,600 56% Poorest Alföld és Észak 10,100 41%  Ireland 31,600 129%  Italy 24,700 101% Richest Nord Ovest 30,100 123% Nord Est 29,300 120% Centro 27,100 111% Isole 16,900 69% Poorest Sud 16,500 67%  Latvia 13,200 54%  Lithuania 14,900 61%  Luxembourg 65,200 266%  Malta 21,000 86%  Netherlands 32,100 131% Richest West-Nederland 34,500 141% Noord-Nederland 31,200 127% Zuid-Nederland 30,900 126% Poorest Oost-Nederland 26,900 110%  Poland 15,300 63% Richest Region Centralny 21,400 87% Region Południowo-Zachodni 15,900 65% Region Południowy 15,000 61% Region Północno-Zachodni 14,700 60% Region Północny 13,100 54% Poorest Region Wschodni 10,700 44%  Portugal 19,700 80% Richest Madeira 25,500 104% Continente 19,500 80% Poorest Açores 18,500 75%  Romania 11,400 47% Richest Macroregiunea Trei 16,700 68% Macroregiunea Patru 10,700 44% Macroregiunea Unu 10,500 43% Poorest Macroregiunea Doi 8,000 33%  Slovakia 17,900 73%  Slovenia 20,500 84%  Spain 24,300 99% Richest Basque Country 32,200 132% Noreste 30,100 123% Este 25,600 105% Noroeste 22,400 92% Canarias 20,800 85% Centro 20,700 85% Poorest Sur 18,800 77%  Sweden 30,200 124% Richest Östra Sverige 34,400 141% Norra Sverige 28,200 115% Poorest Södra Sverige 27,300 112%  United Kingdom 27,200 111% Richest London 45,800 187% South East (England) 28,300 116% Scotland 26,300 107% East of England 24,600 101% South West (England) 24,300 99% East Midlands (England) 23,100 94% North West (England) 22,700 93% West Midlands (England) 22,300 91% Yorkshire & the Humber 21,800 89% Northern Ireland 21,000 86% North East (England) 20,300 83% Poorest Wales 19,900 83%