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Facts and figures on the European Union economy

How big is the EU economy?

The European Union operates as a single market made up of 27 countries.

The total value of all goods and services produced (gross domestic product or GDP) in the EU in 2019, when the UK was still part of the EU, was € 16.4 trillion.

Trade

The EU accounts for around 15% of the world’s trade in goods. The EU, China and the United States are the three largest global players in international trade.

Source: Eurostat

 

In 2019, the EU accounted for € 4 071 billion in total global trade. Intra-EU trade was valued at € 3 061 billion in 2019.

Read more about intra-EU trade

Employment and equality

The employment rate is the proportion of the working-age population in employment.

Source: Eurostat

 

The unemployment rate is the number of out-of-work people expressed as a percentage of the total labour force. Both the unemployment rate and the size of the labour force are key indicators of labour-market trends.

Source: Eurostat

 

The unadjusted gender pay gap is the difference between the average, gross, hourly earnings of male employees and female employees. It is expressed as a percentage of the average, gross, hourly earnings of male employees. It is based on all employees working in firms with 10 or more employees.

Source: Eurostat