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GDP of European countries in 2019

With a Gross Domestic Product of over 3.4 trillion Euros, the German economy was by far the largest in Europe in 2019. The similar sized economies of the United Kingdom and France were the second and third largest economies in Europe during this year, followed by Italy and Spain. The smallest economy in this statistic is that of the small Balkan nation of Montenegro, which had a GDP of just 4.66 billion Euros, around 74 times smaller than the German economy.

The Celtic Tiger

The Republic of Ireland's Gross Domestic Product was estimated to have grown by 5.5 percent in 2019, making it the fastest growing economy in the European Union. Other countries which also grew quite fast in this year, were Hungary, Malta and Estonia, which reported reporting growth rates of 4.9, 4.4 and 4.3 percent respectively. In general, countries in Eastern Europe are growing at a faster rate than their counterparts in Western Europe.

The big five

Germany’s economy has consistently had the largest economy in Europe since 1980, even before the reunification of West and East Germany. The United Kingdom, by contrast, has had mixed fortunes during the same time period and had a smaller economy than Italy in the late 1980s. The UK also suffered more than the other major economies during the recession of the late 2000s, meaning the French economy was the second largest on the continent for some time afterwards. The Spanish economy was continually the fifth-largest in Europe in this 38-year period, and from 2004 onwards has been worth more than one trillion Euros.

Gross domestic product (GDP) at current market prices of selected European countries in 2019

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Source

Release date

August 2020

Region

Europe

Survey time period

2019

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Statistics on "European economy"

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