- 17 May 2018 6:56 AM
- Budapest Business Journal
With GDP of almost EUR 3.3 tln last year, Germany reinforced its position as the leading EU economy, accounting for over a fifth (21.3%) of total EU GDP, according to figures released by Eurostat.
Although its share of the EUʼs GDP decreased by 0.9 of a percentage point between 2016 and 2017, the United Kingdom (15.2%) retained its second position, just ahead of France (14.9%). The top three were followed by Italy (11.2%), Spain (7.6%), and the Netherlands (4.8%).
At the opposite end of the scale, eleven Member States had a GDP of less than 1% of the EU total. These were: Malta, Cyprus, Estonia, Latvia, Lithuania, Slovenia, Croatia, Bulgaria, Luxembourg, Slovakia and Hungary, the latterʼs 0.8% share being the highest among them.
The 19 Member States which form the euro area had a combined GDP of nearly EUR 11.2 tln in 2017. The euro area thus accounted for 72.9% of the EU’s GDP. Germany (29.2%) and France (20.5%) together comprised half of the euro areaʼs GDP, while Italy (15.4%) and Spain (10.4%) made up a quarter.