GDP in EU Regions in 2022

Mapping the recently published Eurostat data for GDP in EU regions. The NUTS classification system divides an economic territory into three levels. NUTS 2 is the second out of 3 levels. Read more here: https://ec.europa.eu/eurostat/web/nuts/overview. Note that Estonia, Cyprus, Latvia, Luxembourg, Malta, Montenegro and North Macedonia are represented as a single region at the NUTS2 level.

GDP Change from 2021 to 2022

231 out of 242 EU regions recorded GDP growth in 2022 compared to 2021. Out of the top 15, Portugal’s Algarve region recorded the largest increase with 17%, followed by Madeira and Southern (Ireland). 3 out of the top 15 were Portuguese regions. One interpretation of the figures could be that since this is 2022 compared to 2021 a part of the increase could be due to rise in tourism, as many of the regions at the top are regions where tourism constitutes a large part of the economic activity.

GDP per capita in 2022

In absolute terms, Southern Ireland and Luxembourg dominated the rankings for the highest GDP per capita in the EU for 2022. The top 10 regions in terms of euros per captia were:

1. Southern (Ireland): €120,300
2. Luxembourg: €118,700
3. Eastern and Midland (Ireland): €104,100
4. Hovedstaden (Denmark): €90,400
5. Région de Bruxelles-Capitale/Brussels Hoofdstedelijk Gewest (Belgium): €77,800
6. Hamburg (Germany): €77,300
7. Stockholm (Sweden): €71,800
8. Noord-Holland (Netherlands): €69,500
9. Oberbayern (Germany): €67,200
10. Utrecht (Netherlands): €66,000

GDP per capita adjusted for purchasing power differences

When adjusted for PPP, which accounts for differences in living costs, the same regions stand out for their economic output relative to the EU average, set at 100. Southern Ireland led with a PPP-adjusted GDP per capita at 286% of the EU average, followed by Luxembourg at 257%. However, behind these Praha comes in fourth with the PPP adjustment.

1. Southern (Ireland): 286% of the EU average
2. Luxembourg: 257% of the EU average
3. Eastern and Midland (Ireland): 247% of the EU average
4. Praha (Czech Republic): 207% of the EU average
5. Région de Bruxelles-Capitale/Brussels Hoofdstedelijk Gewest (Belgium): 196% of the EU average
6. Hamburg (Germany): 195% of the EU average
7. Hovedstaden (Denmark): 191% of the EU average
8. Bucureşti-Ilfov (Romania): 177% of the EU average
9. Oberbayern (Germany): 169% of the EU average
10. Noord-Holland (Netherlands): 168% of the EU average

Eurostat said that “The high GDP per capita in these regions (Luxembourg, Brussels and Praha) can be partly explained by a high inflow of commuting workers and by some major multinational enterprises domiciled in the regions (Southern, Eastern and Midland Ireland).”

The bottom ten regions in the European Union in terms of GDP per capita expressed as purchasing power parity (PPP), with the EU average set at 100, for 2022 were:

1. Mayotte (France): 30% of the EU average
2. Guyane (France): 40% of the EU average
3. Severozapaden (Bulgaria): 40% of the EU average
4. Voreio Aigaio (Greece): 41% of the EU average
5. Severen tsentralen (Bulgaria): 42% of the EU average
6. Yuzhen tsentralen (Bulgaria): 43% of the EU average
7. Nord-Est (Romania): 46% of the EU average
8. Panonska Hrvatska (Croatia): 46% of the EU average
9. Ipeiros (Greece): 47% of the EU average
10. Anatoliki Makedonia, Thraki (Greece): 47% of the EU average