Viewing the EU as a single unit.
GDP (millions of USD) 1 European Union 15,990,000 2 United States 14,270,000 3 Japan 5,049,000 4 Brazil 1,482,000 5 Canada 1,319,000 6 Russia 1,255,000 7 India 1,243,000 8 Australia 920,000 9 Mexico 866,300 10 South Korea 800,300
Viewing the EU as 27 units.
GDP (millions of USD) 1 United States 14,270,000 2 Japan 5,049,000 3 China 4,758,000 4 Germany 3,235,000 5 France 2,635,000 6 United Kingdom 2,198,000 7 Italy 2,090,000 8 Brazil 1,482,000 9 Spain 1,438,000 10 Canada 1,319,000
Is it really appropriate to count the member states separately when it's clear that the EU is a single economic unit? Particularly after the Greek rescue, and the likely creation of new EU financial institutions. And I'll give my consent to any government that does not deny a man a living wage-Billy Bragg
One could make a case the Eurozone can be treated as a single entity for analytical purposes. With the UK still "pounding" along by itself ... the EU nowise.
I most have lost it while editing out the individual European states.
It should be third with $4.758 trillion. And I'll give my consent to any government that does not deny a man a living wage-Billy Bragg
Of course, it is much higher if its PPP, but I wouldn't want to do the whole EU on PPP, I'd just use the World Bank PPP figures to scale. I've been accused of being a Marxist, yet while Harpo's my favourite, it's Groucho I'm always quoting. Odd, that.
The World Bank list aggregates the Eurozone, at 5% less GDP than the US and 20-25% of world GDP.
The CIA world fact book aggregates the European Union, at 10% larger than the US and 25-30% of world GDP.
I go with the World Bank list since the Eurozone is the sensible aggregation. The brainless should not be in banking -- Willem Buiter
Regardless of the comparison with the the United States, the Eurozone dwarfs the Japanese and Chinese economies. And I'll give my consent to any government that does not deny a man a living wage-Billy Bragg
