This dataset provides values for GDP reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

In 1950, GDP per capita in Western Europe (29 countries) was just 48 percent of GDP per capita in the U.S. The post-war economic boom from 1950 to 1973 was the most prosperous period in Western Europe's history, and GDP per capita more than doubled in this period, reaching 69 percent of the U.S.' rate. Due to several economic crises in Europe in the following decades, growth rates in Western Europe remained relatively stable. Still, they did not reach the same heights as seen during the so-called Golden Age of Capitalism.

In contrast, the U.S. had been harder hit than Western Europe by the economic difficulties of the 1970s and 1980s, but the dissolution of the Soviet Union in 1991 coincided with one of the most successful decades in U.S. history, with the economy thriving in the 1990s. For Western Europe, the fall of communism had a knock-on effect that limited growth in the early 1990s, although GDP per capita compared to the U.S. was fairly similar to 1973's rate (albeit lower) at 66 percent.

Across the United States, the United Kingdom, Germany, and the European Union, gross domestic products (GDP) decreased in 2020 as a result of the COVID-19 pandemic. However, by 2021, growth rates were positive in all four areas again. The United Kingdom, Germany, and the European Union all experiencing slow economic growth in 2023 amid high inflation, with Germany even seeing an economic recession. GDP and its components GDP refers to the total market value of all goods and services that are produced within a country per year. It is composed of government spending, consumption, business investments and net exports. It is an important indicator to measure the economic strength of a country. Economists rely on a variety of factors when predicting the future performance of the GDP. Inflation rate is one of the economic indicators providing insight into the future behavior of households, which make up a significant proportion of GDP. Projections are based on the past performance of such information. Future considerations Some factors can be more easily predicted than others. For example, projections of the annual inflation rate of the United States are easy to come by. However, the intensity and impact of something like Brexit is difficult to predict. Moreover, the occurrence and impact of events such as the COVID-19 pandemic and Russia's war in Ukraine is difficult to foresee. Hence, actual GDP growth may be higher or lower than the original estimates.

View yearly updates and historical trends for Western Europe GDP Per Capita Outlook. Source: International Monetary Fund. Track economic data with YCharts…

Throughout the first half of the twentieth century, GDP per capita rose significantly across Europe, however, at varying rates across different regions. Scandinavia, which did not experience the same level of structural devastation during the World Wars as the other regions, saw the largest GDP per capita growth during this period. Over these five decades, Scandinavian countries transformed from traditional agricultural societies to some of the world's wealthiest and industrially advanced economies. Between 1913 and 1950, Scandinavian GDP per capita doubled, eventually overtaking Western Europe as the highest in Europe. In comparison, East-Central Europe's growth was much slower, rising by just 26 percent between 1913 and 1915.

This dataset provides values for GDP ANNUAL GROWTH RATE reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

In the first half of the 20th century, the Soviet Union's GDP per capita rose from roughly one-third of Western Europe's GDP per capita in 1900 to one-half of its rate in 1950. Although it grew gradually between the given intervals, it did drop between 1913 and 1929 due to the devastation caused by the First World War and Russian Revolution. However, this year also marked the beginning of the Great Depression, which caused a significant economic downturn across Western Europe while being relatively unfelt in the Soviet Union.

This line chart displays GDP (current US$) by date using the aggregation sum in Western Europe. The data is about countries per year.

This horizontal bar chart displays GDP (current US$) by region using the aggregation sum in Western Europe. The data is filtered where the date is 2023. The data is about countries per year.

Of the five major belligerent Western European countries in the First World War, the United Kingdom was the only one to experience overall GDP growth, albeit at just one percent. Austria and Germany, the two primary instigators of the war, saw their GDP fall by 38 and 28 percent, respectively. France and Belgium, two nations that saw some of the highest levels of destruction during the war, saw their GDP fall by 25 and 20 percent, respectively.

This dataset provides values for GOVERNMENT DEBT TO GDP reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

Between 1900 and 1950, Scandinavian countries saw the largest growth in GDP per capita in Europe, more than doubling between 1913 and 1950. In comparison, growth rates were much lower in Western Europe, and lower still in East-Central Europe. From 1913 (the year before the First World War) until the end of the Second World War's recovery period in 1950, Western Europe's GDP per capita grew by just 43 percent, while East-Central Europe's figure increased by just 26 percent.

This bar chart displays GDP (current US$) by capital city using the aggregation sum in Western Europe. The data is filtered where the date is 2021. The data is about countries per year.

The city of Paris in France had an estimated gross domestic product of 757.6 billion Euros in 2021, the most of any European city. Paris was followed by the spanish capital, Madrid, which had a GDP of 237.5 billion Euros, and the Irish capital, Dublin at 230 billion Euros. Milan, in the prosperous north of Italy, had a GDP of 228.4 billion Euros, 65 billion euros larger than the Italian capital Rome, and was the largest non-capital city in terms of GDP in Europe. The engine of Europe Among European countries, Germany had by far the largest economy, with a gross domestic product of over 4.18 trillion Euros. The United Kingdom or France have been Europe's second largest economy since the 1980s, depending on the year, with forecasts suggesting France will overtake the UK going into the 2020s. Germany however, has been the biggest European economy for some time, with five cities (Munich, Berlin, Hamburg, Stuttgart and Frankfurt) among the 15 largest European cities by GDP. Europe's largest cities In 2023, Moscow was the largest european city, with a population of nearly 12.7 million. Paris was the largest city in western Europe, with a population of over 11 million, while London was Europe's third-largest city at 9.6 million inhabitants.

Hong Kong GDP: IS: Western Europe data was reported at 81,478.000 HKD mn in 2016. This records a decrease from the previous number of 81,510.000 HKD mn for 2015. Hong Kong GDP: IS: Western Europe data is updated yearly, averaging 81,684.000 HKD mn from Dec 2009 (Median) to 2016, with 8 observations. The data reached an all-time high of 84,761.000 HKD mn in 2013 and a record low of 62,068.000 HKD mn in 2009. Hong Kong GDP: IS: Western Europe data remains active status in CEIC and is reported by Census and Statistics Department. The data is categorized under Global Database’s Hong Kong – Table HK.A172: SNA 2008: GDP: Trade in Services: MSITS 2010: Current Price: by Major Service Component and Region (Annual).

Hong Kong GDP: ES: IP: Western Europe data was reported at 730.000 HKD mn in 2014. This records an increase from the previous number of 679.000 HKD mn for 2013. Hong Kong GDP: ES: IP: Western Europe data is updated yearly, averaging 571.500 HKD mn from Dec 2009 (Median) to 2014, with 6 observations. The data reached an all-time high of 730.000 HKD mn in 2014 and a record low of 364.000 HKD mn in 2011. Hong Kong GDP: ES: IP: Western Europe data remains active status in CEIC and is reported by Census and Statistics Department. The data is categorized under Global Database’s Hong Kong – Table HK.A172: GDP: Trade in Services: MSITS 2010: Current Price: by Major Service Component and Region (Annual).

Hong Kong GDP: ES: INS: Western Europe data was reported at 840.000 HKD mn in 2014. This records an increase from the previous number of 668.000 HKD mn for 2013. Hong Kong GDP: ES: INS: Western Europe data is updated yearly, averaging 536.500 HKD mn from Dec 2009 (Median) to 2014, with 6 observations. The data reached an all-time high of 840.000 HKD mn in 2014 and a record low of 395.000 HKD mn in 2011. Hong Kong GDP: ES: INS: Western Europe data remains active status in CEIC and is reported by Census and Statistics Department. The data is categorized under Global Database’s Hong Kong – Table HK.A172: SNA 2008: GDP: Trade in Services: MSITS 2010: Current Price: by Major Service Component and Region (Annual).

In 1973, GDP per capita in Ireland was approximately 60 percent of the rate across Western Europe, but over the next quarter of a century it had grown to exceed Western Europe's rate by two percent. The given countries were considered peripheral economies in Western Europe for most of the late twentieth century, as their growth did not reflect the advances made in the major industrial powers of Germany, France, or the United Kingdom, however their growth in the final decades of the century surpassed these countries, bringing their economies more in line with the rest of the continent (although a difference remained between the Mediterranean countries and the rest of Western Europe). Between the given years, Ireland's GDP per capita saw the largest growth, increasing by 165 percent of its previous level. GDP per capita in the other countries also grew above the Western European average.

For Western Europe's economies in the late twentieth century, there were regional differences in the development of GDP per capita in many of the northern, industrialized nations and those in the south and on the northern periphery. In 1950, GDP per capita was lower than the regional average in these countries due to the lower levels of industrialization. The south then managed to make up a lot of ground by 1973. During Western Europe's "Golden Age of Capitalism," however, Ireland actually lost ground on the rest of the region due to its isolationist policies and inability to industrialize at the same pace. The last quarter-century of the decade saw this trend reverse, with Ireland's GDP per capita eventually growing above the regional average due to the influx of U.S. investment and its increased integration with European markets. Finland, which had a fairly unique position as being a West Bloc country within the Soviet sphere of influence, did experience some economic success during the Cold War through its exports into the East Bloc. The dissolution of the Soviet Union saw Finland rapidly restructure its economy to compete with the west, which caused GDP to fall by 14 percent between 1989 and 1993. By the end of the decade, however, this transition saw Finland emerge as a global leader in the export of high-tech goods, and income surpassed Swedish figures. By 2004, Ireland and Finland were respectively ranked as the top two leading nations in high-tech manufacturing by the OECD.

Hong Kong GDP: IS: Transport: Western Europe data was reported at 29,325.000 HKD mn in 2014. This records a decrease from the previous number of 29,859.000 HKD mn for 2013. Hong Kong GDP: IS: Transport: Western Europe data is updated yearly, averaging 29,592.000 HKD mn from Dec 2009 (Median) to 2014, with 6 observations. The data reached an all-time high of 30,974.000 HKD mn in 2012 and a record low of 23,061.000 HKD mn in 2009. Hong Kong GDP: IS: Transport: Western Europe data remains active status in CEIC and is reported by Census and Statistics Department. The data is categorized under Global Database’s Hong Kong – Table HK.A172: GDP: Trade in Services: MSITS 2010: Current Price: by Major Service Component and Region (Annual).