This is a chart comparing the combined nominal GDP of the 27 EU member states to the GDPs of 8 other largest economies in the world, as of 2022. It was made using the data from the International Monetary Fund
The European Union is currently the third largest economy in the world with a GDP of about 17.1 trillion USD , behind only China at 19.9 trillion USD and the United States at 25.3 trillion USD.
It is also the third largest by population. It’s smaller only than China and India, both of which have roughly one billion more people, and it has about 120 million people more than the United States.
From this, it seems China’s GDP is about where the US was in 2017.
China has a bigger economy than the EU now? Wow.
The US has a higher nominal GDP than the EU? Who’s fudged statistics were they using?
20 years ago the EU had a higher GDP than the USA.
This is what happens when you miss a technological revolution.
As much as people point fingers at Brexit, the UK was a huge part of the EU and our economic power around the world.
Together we stood much better when it came to securing our own interests, and having leverage on trade deals and agreements.
Now its debatable if Brussels could even stand up to China if a major disagreement should arise.
in PPP terms (Purchasing Power Parity) GDP of the EU is at around $23.7tn, so not far behind the Usa, which might be the more important metric, for most people atleast because it affects their daily lifes to a greater extend.
Btw i found a site [here](https://statisticstimes.com/economy/gdp-nominal-vs-gdp-ppp.php) with nominal vs. PPP values compared by country, data is slightly outdated at times but still a good to use, Sudan is ranked first with PPP GDP being over 5x higher than nominal and Switzerland last, GDP PPP being around -20% smaller than Nominal.
BlackRock is registered in the States?
Looks good but we are falling back literally every year compared to the USA and China.
12 comments
This is a chart comparing the combined nominal GDP of the 27 EU member states to the GDPs of 8 other largest economies in the world, as of 2022. It was made using the data from the International Monetary Fund
The European Union is currently the third largest economy in the world with a GDP of about 17.1 trillion USD , behind only China at 19.9 trillion USD and the United States at 25.3 trillion USD.
It is also the third largest by population. It’s smaller only than China and India, both of which have roughly one billion more people, and it has about 120 million people more than the United States.
Source [here]( https://www.imf.org/en/Publications/WEO/weo-database/2022/April/weo-report?c=512,914,612,171,614,311,213,911,314,193,122,912,313,419,513,316,913,124,339,638,514,218,963,616,223,516,918,748,618,624,522,622,156,626,628,228,924,233,632,636,634,238,662,960,423,935,128,611,321,243,248,469,253,642,643,939,734,644,819,172,132,646,648,915,134,652,174,328,258,656,654,336,263,268,532,944,176,534,536,429,433,178,436,136,343,158,439,916,664,826,542,967,443,917,544,941,446,666,668,672,946,137,546,674,676,548,556,678,181,867,682,684,273,868,921,948,943,686,688,518,728,836,558,138,196,278,692,694,962,142,449,564,565,283,853,288,293,566,964,182,359,453,968,922,714,862,135,716,456,722,942,718,724,576,936,961,813,726,199,733,184,524,361,362,364,732,366,144,146,463,528,923,738,578,537,742,866,369,744,186,925,869,746,926,466,112,111,298,927,846,299,582,487,474,754,698,&s=NGDPD,&sy=2022&ey=2022&ssm=0&scsm=1&scc=0&ssd=1&ssc=0&sic=0&sort=country&ds=.&br=1)
Texas has a higher nominal GDP than Russia.
From this, it seems China’s GDP is about where the US was in 2017.
China has a bigger economy than the EU now? Wow.
The US has a higher nominal GDP than the EU? Who’s fudged statistics were they using?
20 years ago the EU had a higher GDP than the USA.
This is what happens when you miss a technological revolution.
As much as people point fingers at Brexit, the UK was a huge part of the EU and our economic power around the world.
Together we stood much better when it came to securing our own interests, and having leverage on trade deals and agreements.
Now its debatable if Brussels could even stand up to China if a major disagreement should arise.
in PPP terms (Purchasing Power Parity) GDP of the EU is at around $23.7tn, so not far behind the Usa, which might be the more important metric, for most people atleast because it affects their daily lifes to a greater extend.
Btw i found a site [here](https://statisticstimes.com/economy/gdp-nominal-vs-gdp-ppp.php) with nominal vs. PPP values compared by country, data is slightly outdated at times but still a good to use, Sudan is ranked first with PPP GDP being over 5x higher than nominal and Switzerland last, GDP PPP being around -20% smaller than Nominal.
BlackRock is registered in the States?
Looks good but we are falling back literally every year compared to the USA and China.
[https://data.worldbank.org/indicator/NY.GDP.MKTP.CD?locations=EU-US-CN](https://data.worldbank.org/indicator/NY.GDP.MKTP.CD?locations=EU-US-CN)
Back in 2008, the EU had the highest GDP. Now our position is fixed until ~2040-2050 when India will overtake us.
Thanks for using nominal, always use nominal.
So when the UK rejoins the EU will just edge out China it looks like
I say when not if because I’d bet my life it’ll happen