Nov. 9, 2018, 3:51 p.m.
A VIEW OF THE EUROPEAN UNION ECONOMY IN THE WORLD WITH NUMERICAL DATA
World's first 100 economies
|
Rank |
Country |
|
|
Million ($) |
|
|
1. |
US |
|
|
19.390.600 |
|
|
2. |
China |
|
|
12.014.610 |
|
|
3. |
Japan |
|
|
4.872.135 |
|
|
4. |
Germany |
|
|
|
|
|
5. |
United Kingdom |
|
|
|
|
|
6. |
India |
|
|
2.611.012 |
|
|
7. |
France |
|
|
2.583.560 |
|
|
8. |
Brazil |
|
|
2.054.969 |
|
|
9. |
Italy |
|
|
1.937.894 |
|
|
10. |
Canada |
|
|
1.652.412 |
|
|
11. |
South Korea |
|
|
|
|
|
12. |
Russia |
|
|
1.527.469 |
|
|
13. |
Australia |
|
|
|
|
|
14. |
Spain |
|
|
1.313.951 |
|
|
15. |
Mexico |
|
|
1.149.236 |
|
|
16. |
Indonesia |
|
|
|
|
|
17. |
Turkey |
|
|
849.480 |
|
|
18. |
The Netherlands |
|
|
825.745 |
|
|
19. |
Saudi Arabia |
|
|
|
|
|
20. |
Switzerland |
|
|
678.575 |
|
|
21. |
Argentina |
|
|
637.717 |
|
|
22. |
Taiwan |
|
|
579.302 |
|
|
23. |
Sweden |
|
|
538.575 |
|
|
24. |
Poland |
|
|
524.886 |
|
|
25. |
Belgium |
|
|
494.733 |
|
|
26. |
Thailand |
|
|
455.378 |
|
|
27. |
Iran |
|
|
431.920 |
|
|
28. |
Austria |
|
|
|
|
|
29. |
Norway |
|
|
396.457 |
|
|
30. |
United Arab Emirates |
|
|
|
|
|
31. |
Nigeria |
|
|
376.284 |
|
|
32. |
Israel |
|
|
350.609 |
|
|
33. |
South Africa |
|
|
349.299 |
|
|
34. |
Hong Kong |
|
|
341.659 |
|
|
35. |
Ireland |
|
|
333.994 |
|
|
36. |
Denmark |
|
|
|
|
|
37. |
Singapore |
|
|
|
|
|
38. |
Malaysia |
|
|
314.497 |
|
|
39. |
Philippines |
|
|
313.419 |
|
|
40. |
Colombia |
|
|
|
|
|
41. |
Pakistan |
|
|
303.993 |
|
|
42. |
Chile |
|
|
277.042 |
|
|
43. |
Bangladesh |
|
|
|
|
|
44. |
Finland |
|
|
|
|
|
45. |
Egypt |
|
|
237.073 |
|
|
46. |
Vietnam |
|
|
220.408 |
|
|
47. |
Portugal |
|
|
218.064 |
|
|
48. |
Peru |
|
|
215.224 |
|
|
49. |
Czech Republic |
|
|
|
|
|
50. |
Romania |
|
|
|
|
|
51. |
Venezuela |
|
|
|
|
|
52. |
New Zealand |
|
|
|
|
|
53. |
Greece |
|
|
|
|
|
54. |
Iraq |
|
|
197.699 |
|
|
55. |
Algeria |
|
|
178.287 |
|
|
56. |
Qatar |
|
|
166.326 |
|
|
57. |
Kazakhstan |
|
|
|
|
|
58. |
Hungary |
|
|
|
|
|
59. |
Angola |
|
|
124.209 |
|
|
60. |
Kuwait |
|
|
120.351 |
|
|
61. |
Morocco |
|
|
109.824 |
|
|
62. |
Ukraine |
|
|
109.321 |
|
|
63. |
Ecuadorian |
|
|
102.311 |
|
|
64. |
Puerto Rico |
|
|
98.805 |
|
|
65. |
Slovakia |
|
|
|
|
|
66. |
Sri Lanka |
|
|
87.591 |
|
|
67. |
Ethiopia |
|
|
|
|
|
68. |
Kenya |
|
|
79.511 |
|
|
69. |
Guatemala |
|
|
|
|
|
70. |
Dominican Republic |
|
|
|
|
|
71. |
Oman |
|
|
74.274 |
|
|
72. |
Myanmar |
|
|
|
|
|
73. |
Luxembourg |
|
|
|
|
|
74. |
Uruguay |
|
|
58.415 |
|
|
75. |
Panama |
|
|
61.838 |
|
|
76. |
Costa Rica |
|
|
|
|
|
77. |
Sudan |
|
|
58.239 |
|
|
78. |
Bulgaria |
|
|
|
|
|
79. |
Croatia |
|
|
|
|
|
80. |
Belarus |
|
|
54.436 |
|
|
81. |
Tanzania |
|
|
|
|
|
82. |
Lebanon |
|
|
51.457 |
|
|
83. |
Macau |
|
|
49.802 |
|
|
84. |
Slovenia |
|
|
|
|
|
85. |
Uzbekistan |
|
|
|
|
|
86. |
Lithuania |
|
|
|
|
|
87. |
Ghana |
|
|
47.032 |
|
|
88. |
Serbia |
|
|
|
|
|
89. |
Congo |
|
|
41.441 |
|
|
90. |
Azerbaijan |
|
|
|
|
|
91. |
Jordan |
|
|
40.487 |
|
|
92. |
Ivory Coast |
|
|
|
|
|
93. |
Tunisia |
|
|
40.275 |
|
|
94. |
Turkmenistan |
|
|
|
|
|
95. |
Bolivia |
|
|
37.122 |
|
|
96. |
Bahrain |
|
|
34.895 |
|
|
97. |
Cameroon |
|
|
34.006 |
|
|
98. |
Libya |
|
|
31.330 |
|
|
99. |
Latvia |
|
|
30.319 |
|
|
100. |
Paraguay |
|
|
|
|
|
|
|
|
|
Let's detail the list for the EU member states.
|
Rank |
Country |
Million ($) |
Population (million) |
GDPPC ($) |
|
1. |
Germany |
3.684.816 |
82.293 |
50842 |
|
2. |
United Kingdom |
2.624.529* |
66.573* |
44177 |
|
3. |
France |
2.583.560 |
65.233 |
44934 |
|
4. |
Italy |
1.937.894 |
59.291 |
35914 |
|
5. |
Spain |
1.313.951 |
43.397 |
32559 |
|
6. |
The Netherlands |
825.745 |
17.084 |
55185 |
|
7. |
Sweden |
538.575 |
9.983 |
58345 |
|
8. |
Poland |
524.886 |
38.105 |
13811 |
|
9. |
Belgium |
494.733 |
11.499 |
49272 |
|
10. |
Austria |
416.845 |
8.752 |
53764 |
|
11. |
Ireland |
333.994* |
4.784 |
80641 |
|
12. |
Denmark |
324.484 |
5.754 |
56307 |
|
13. |
Finland |
253.244 |
5.543 |
52422 |
|
14. |
Portugal |
218.064 |
10.310 |
24327 |
|
15. |
Czech Republic |
213.189 |
10.625 |
23750 |
|
16. |
Romania |
211.315 |
19.581 |
10813 |
|
17. |
Greece |
200.690 |
11.142 |
21144 |
|
18. |
Hungary |
152.284 |
9.689 |
14225 |
|
19. |
Slovakia |
95.938 |
5.450 |
17605 |
|
20. |
Luxembourg |
62.393 |
0.590 |
120061 |
|
21. |
Bulgaria |
56.943 |
7.037 |
8031 |
|
22. |
Croatia |
54.516 |
4.165 |
13924 |
|
23. |
Slovenia |
48.868 |
2.066 |
23597 |
|
24. |
Lithuania |
47.263 |
1.960 |
16680 |
|
25. |
Latvia |
30.319 |
1.950 |
15594 |
|
26. |
Estonia |
25.920 |
1.316 |
19704 |
|
27. |
Malta |
14.000 |
0.400 |
43160 |
|
28. |
Cyprus |
23.352 |
0.803 |
23352 |
|
|
------------ |
-------- |
|
-------- |
|
|
Total |
17.312.310 |
505.375 |
36576 (average) |
|
|
|
|
|
|
|
|
Turkey |
849.480 |
79.810 |
11760 |
Current Surplus Economies
|
Rank |
Country |
Current Surplus(Billion $) |
|
1. |
Germany |
296 |
|
2. |
Japan |
175 |
|
3. |
China |
162 |
|
4. |
South Korea |
85 |
|
5. |
Netherlands |
82 |
|
6. |
Taiwan |
79 |
|
7. |
Switzerland |
67 |
|
8. |
Singapore |
60 |
|
9. |
Italy |
53 |
|
10. |
Russia |
41 |
|
11. |
Spain |
24 |
|
12. |
Denmark |
24 |
|
13. |
Norway |
22 |
|
14. |
Iran |
21 |
|
15. |
Sweden |
21 |
|
16. |
Macau |
17 |
|
17. |
Israel |
14 |
|
18. |
Ireland |
10 |
|
19. |
Hong Kong |
10 |
|
20. |
Thailand |
44 |
Current account deficit economies
|
Rank |
Country |
Current Deficit(Billion $) |
|
1. |
US |
462 |
|
2. |
England |
91 |
|
3. |
Canada |
55 |
|
4. |
Turkey |
38 |
|
5. |
India |
33 |
|
6. |
Brazil |
28 |
|
7. |
France |
28 |
|
8. |
Algeria |
22 |
|
9. |
Argentina |
22 |
|
10. |
Australia |
21 |
|
11. |
Egypt |
19 |
|
12. |
Mexico |
19 |
|
13. |
Indonesia |
17 |
|
14. |
Iraq |
12 |
|
15. |
Colombia |
11 |
|
16. |
Pakistan |
11 |
|
17. |
Oman |
10 |
|
18. |
G. Africa |
9 |
|
19. |
Lebanon |
9 |
|
20. |
Kazakhstan |
8 |
When we take a look at the tables briefly, the brief summaries can be read as follows;
1. The EU region is 6.7% of the world population.
2. In the context of GDP, the world's second-largest economy.
3. In the context of GDP, the member countries are almost in the top 100 rankings.
4. Germany is the world leader in the current surplus countries category.
5. 7 of the member states are current countries with the current surplus.
6. The UK and France are the only countries that give a current account deficit.
7. The GDP per capita of EU countries can be calculated as $ 36,576. This is a fairly high figure.
8. The highest per capita GDP among the EU member states is Luxembourg with $ 120,061.
9. The lowest per capita GDP among EU member states is in Bulgaria with $ 8,831.
10. The total current surplus of countries in the EU economy is approximately $ 462 billion.
11. Total current account deficit is $ 119 billion.
According to the figures, the manufacturing process of the EU member states works efficiently. The EU is an important actor in the general world trade. The Union deals with 25.8% of the world GDP which makes it the biggest actor of World Trade.
Trade between the EU and the United States is also in a very high percentage (47%). This shows that the most trade is between the EU and the US. The EU is not only a trade union, but it is a structure that creates and implements a series of policies from the social life of the member states to the environmental problems and tries to realize them from the common budget. In this context, it can be said that the EU is even a larger economic community due to investing in quite different areas apart from trade which makes it different from other commercial competitors.
In order to discuss the future of the EU, these figures will probably play an important role in making a better analysis.
The tables reveal also another important issue. Turkey is an important actor as it is the 17th in the world economy. Considering Turkey's young population this is an important point for the EU and cannot be ignored.
Source:
Tables: https://egezegen.com/ekonomi/dunyanin-en-buyuk-ekonomileri-siralamasi/
Photo: http://wallpapertor.blogspot.com/2016/06/wallpaper-economy.html
