The Gross Domestic Product (GDP) of the European Union was 15.3 billion euros in the year 2017. More than half of that figure was generated by the three main European economies: Germany, United Kingdom and France, according to data provided by Eurostat.
Germany, with a GDP close to 3.3 trillion euros, led the European economy last year with 21.3% of the EU’s total GDP. The United Kingdom contributed 15.2% of European GDP, ranking it as the second most important economy in Europe with just a few percentage points of difference compared to France, which contributed 14.9% of EU GDP. These three countries account for 51.4% of the EU’s GDP.
The fourth economy of the EU in 2017 was Italy, with 11.2% of the total, while Spain ranked fifth with 7.6% and Holland the sixth with 4.8%.
A total of eleven EU member states had a GDP of less than 1% of the EU total. These are Malta, Cyprus, Estonia, Latvia, Lithuania, Slovenia, Croatia, Bulgaria, Luxembourg, Slovakia and Hungary.