The highest ratios of government debt to GDP at the end of the first quarter of 2025 were recorded in Greece (152.5%), Italy (137.9%), France (114.1%), Belgium (106.8%) and Spain (103.5%), and the lowest were recorded in Bulgaria (23.9%), Estonia (24.1%), Luxembourg (26.1%) and Denmark (29.9%).
With a Gross Domestic Product of over 4.3 trillion Euros, the German economy was by far the largest in Europe in 2024. The similarly sized economies of the United Kingdom and France were the second and third largest economies in Europe during this year, followed by Italy and Spain.
Official projections from the US Congressional Budget Office (link) and the European Commission (link) suggest that the US will continue to accumulate significantly more debt than Europe in the coming years.
Which country in the European Union has the lowest GDP?
Overview. In 2024, Luxembourg and Ireland recorded the highest levels of GDP per capita in the EU, at 142% and 111% above the EU average. Bulgaria was the EU country with the lowest GDP per capita, at 34% below the EU average.
Countries With Lowest Debt % To GDP In Europe 1980 - 2028
Which is the poorest country in the EU?
According to Eurostat, Hungary is now the poorest country in the European Union based on real income per capita—not GDP, but how much citizens can actually afford. Once more prosperous, it now trails behind Romania and Bulgaria.
Important point of clarity for the question. If you are asking about total GDP then population is a major factor. While Germany may have the 3rd largest economy in the world and Britain the 6th, Germany has 12 million more people than the UK.
At the end of 2024, the government debt to GDP ratio ranged from 23.6% in Estonia to 153.6% in Greece. This article examines how key government finance statistics have developed in the European Union (EU) and the euro area (EA).
Which country is best to live in Europe financially?
The most affordable places to retire in Europe are countries like Portugal, Malta, and Greece. They offer affordable living costs while maintaining a good quality of life. That's why they have become a popular budget-friendly retirement option.
The economy of Ireland is a highly developed knowledge economy, focused on services in high-tech, life sciences, financial services and agribusiness, including agrifood. Ireland is an open economy (3rd on the Index of Economic Freedom), and ranks first for high-value foreign direct investment (FDI) flows.
Greece achieved a significant budgetary surplus in 2024, which is set to be sustained over the forecast horizon. Helped by robust nominal GDP growth, the debt-to-GDP ratio continues to fall and is expected to reach 140.6% in 2026.
Causes of the euro area crisis included a weak economy of the European Union after the 2008 financial crisis and the Great Recession, the sudden stop of the flow of foreign capital into countries that had substantial current account deficits and were dependent on foreign lending.
Food scientist Abbey Thiel agrees that Europe doesn't have superior food quality to the U.S. In fact, the U.S. was ranked third for food quality and safety in the 2022 Global Food Security Index, behind Canada and Denmark.
Of all G20 countries, the United States has the highest gross domestic product (GDP) per capita. After adjusting for purchasing power the United States GDP per inhabitant totaled 63,400 international US dollar (int. US$) in 2020. According to IMF estimates, Germany was the second highest ranked G20 country (54,100 int.
Germany is the largest economy in Europe, followed by the United Kingdom, France, Italy, and Russia. These five together hold a 58.5% share of the European economy.
The European Union budget for Ireland. From 1973 up to 2018 Ireland was a net recipient, in nominal terms, of over €40 billion in EU funds. The country is now a net contributor due to its significant economic growth.
Europe is one of the world's largest trading entities, with Germany, France and the United Kingdom serving as the primary economic powerhouses in terms of both exports and imports.
