GDP growth rate in European Union countries in 2019

The European Union’s fastest growing economy in 2019 was Ireland, with the country’s Gross Domestic Product growing by 5.5 percent that year. This was followed by Hungary at 4.9 percent and Malta at 4.4 percent. Italy represented the country with the slowest growing economy in this year at just 0.3 percent.

Europe’s largest economies

Germany had by far the largest economy in Europe in 2019, with a gross domestic product at over 3.4 trillion Euros, followed by the United Kingdom at 2.52 trillion Euros and France at 2.42 trillion Euros. Along with Italy and Spain these countries are the five largest economies in Europe, and while all five have had similar patterns of growth, the gap between them has widened in recent years.

GDP per Capita

While Germany had the largest economy overall, its large population meant that it does not have the highest GDP per capita. Instead, Luxembourg has the highest GDP per capita at over 113 thousand U.S dollars, followed by Switzerland at around 83 thousand U.S dollars.