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Eurostat: Romania, 16th economy in the EU with 1.2pc share

In 2017, the gross domestic product (GDP) of the European Union (EU) amounted to EUR 15,300 billion (bn) at current prices. Over half of it was generated by three Member States: Germany, the United Kingdom and France, Eurostat informs.

With a GDP worth almost EUR 3,300bn last year, Germany reinforced its position as the leading EU economy, accounting for over a fifth (21.3%) of EU GDP. Although its share of the EU’s GDP decreased by 0.9 percentage points between 2016 and 2017, the United Kingdom (15.2%) retained its second position, just ahead of France (14.9%). They were followed by Italy (11.2%), Spain (7.6%) and the Netherlands (4.8%).

Romania’s GDP amounted to EUR 187.8 billion, i.e. 1.2% of EU GDP, thus being the 16th economy of the union.

At the opposite end of the scale, eleven Member States had a GDP of less than 1% of the EU total. They were: Malta, Cyprus, Estonia, Latvia, Lithuania, Slovenia, Croatia, Bulgaria, Luxembourg, Slovakia and Hungary.

The 19 Member States, which form the euro area, had a combined GDP of nearly EUR 11,200 bn in 2017. The euro area accounted for 72.9% of the EU’s GDP. Germany (29.2%) and France (20.5%) together comprised half of the euro area GDP, while Italy (15.4%) and Spain (10.4%) made up a quarter.

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