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Friday, February 02, 2007

GDP comparison in the EU

















It is quite hard to find a table of current/recent GDP data for all EU countries. Well, I succeeded. I prefer the purchasing power standard approach because prices do vary quite a lot across
Europe.


Unsurprisingly, Luxembourg is top, which next to London makes it the richest region in Europe. More unexpected is runner-up Ireland, which during recent its growth period has caught up a great deal. Denmark is another prime example – see my article on flexicurity. If Norway joined the EU it would be the top Nordic country and would push into second place overall.

The UK is still attractive for foreigners in seventh place, and well ahead of the other big countries – Germany, France, and Italy. The poorest country is Bulgaria – I actually supposed Romania to be poorer.

Three pre-accession countries which are still below average are Spain, Greece, and Portugal. Slovenia is the richest newcomer, scoring above Portugal. However we should take into account that from Italy downwards we have countries which have large shares of unreported shadow market economy.

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