Gross domestic product (GDP) of selected European countries in 2018
With a Gross Domestic Product of approximately 3.4 trillion Euros, the German economy was by far the largest in Europe in 2018. 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. With a Gross Domestic Product of almost 600 billion Euros, Switzerland had the largest European economy outside of the European Union.
Return of the Celtic Tiger?
The Republic of Ireland's Gross Domestic Product was estimated to have grown by 6.8 percent in 2018, making it the fastest growing economy in the European Union. Other countries which also grew quite fast in this year, were Malta, Poland and Hungary reporting growth rates of 6.2, 5.1 and 4.8 percent respectively.
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.
Return of the Celtic Tiger?
The Republic of Ireland's Gross Domestic Product was estimated to have grown by 6.8 percent in 2018, making it the fastest growing economy in the European Union. Other countries which also grew quite fast in this year, were Malta, Poland and Hungary reporting growth rates of 6.2, 5.1 and 4.8 percent respectively.
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.
