Which member state contributed the most to EU GDP? And what does GDP actually mean?

Gross domestic product (GDP) is an indicator used to measure the size and performance of an economy. It provides information on the value of goods and services produced during a given period. Within the EU, GDP was valued at €17.0 trillion in 2023.

In 2023, slightly less than a quarter of the EU’s GDP was generated by Germany (24.3%), followed by France (16.5%) and Italy (12.3%), ahead of Spain (8.6%) and the Netherlands (6.1%).

    • GollumOPEnglish
      8•3 months ago

      There are only 3 countries with a higher GDP than Germany, idk if this is a fair comparison.

      • @polycephalum@lemmy.todayEnglish
        2•3 months ago

        As of 2024 only two thanks to the bad performance of Japan. But India will probably take Germany’s place in the near future.

        • @JubilantJaguar@lemmy.worldEnglish
          5•3 months ago

          Not to disagree with your general point, but I think it would be progress if we got away from labelling low GDP growth as “bad”. GDP is one measure among many others, with plenty of weaknesses, not least that the competition for it is zero-sum and unsustainable. But it has become a fetish because economists. IMO if we’re going to obsess over a single metric, HDI is a much better candidate.

          • @polycephalum@lemmy.todayEnglish
            2•3 months ago

            I fully agree. I didn’t intend to rate the GDP growth - English is not my first language. In hindsight “low” is a better discription of Japan’s GDP growth than “bad”. Thank you for your remark.