Comparing United States and European Union by Economy

Source World Bank : Nominal, PPP, Nominal per capita, PPP per capita
International Monetary Fund: EU, US
Date22 May 2021

The United States and European Union are the two largest economies globally in nominal terms. As of 2021, both together share 42.4% and 30.7% of the entire global GDP in nominal and PPP terms, respectively.

As per projections by IMF for 2021, United States is leading by $5,548 bn or 1.32 times on an exchange rate basis. On purchasing power parity basis, the margin is less with the United States ahead by Int. $ 1,757 or 1.08 times. According to estimates by World Bank from 1966 to 2019, the US has higher gdp for 41 years, and European Union has higher gdp for 12 years. 2011 was the latest year when European Union had higher gdp than the United States. The ratio between these two was highest 1.62x in 1985 in favor of the US. With 1.16x of the US's gdp in 1980, the ratio was highest in favor of the EU. In ppp terms, the EU had been closely following the US since 1994.

As of 2021, The per capita income of the United States is 1.86 and 1.44 times higher than that of the European Union in nominal and PPP terms, respectively. The US had greater gdp per capita than the EU for data available since 1966.

European Union attains a maximum gdp growth rate of 6.03% in 1973 and a minimum of -4.33% in 2009. During the period 1966 to 2019, European Union grew by more than 5% only once. The United States reached an all-time high of 7.24% in 1984 and a record low of -2.54% in 2009. The United States grew by more than 5% during nine years. GDP growth rate was negative in eight years for the US. European Union showed negative growth in five years.

  • GDP
  • GDP per capita
  • GDP growth

Projections by IMF

Year Nominal GDP (billions $) PPP GDP (billions Int. $) Nominal GDP capita ($) PPP GDP capita (Int. $) Growth (%)
USEUUSEU USEUUSEUUSEU
202020,932.7514926.53820,932.7519397.26763,41633,56363,41643,616-3.505-7.598
202122,675.2717046.36722,675.2720822.66868,30938,30568,30946,7906.3865.038
202224,003.7018022.50224,003.7021893.11671,89640,45871,89649,1473.5153.31
202324,892.6118839.34624,892.6122840.38174,13042,25274,13051,2251.4102.476
202425,790.1219578.29125,790.1223730.67176,36243,87276,36253,1771.4811.954
202526,719.6320300.91126,719.6324591.18578,66045,45378,66055,0591.6071.641
202627,659.1527,659.1580,95980,9591.610

Estimates by World Bank

Year Nominal GDP (billions $) PPP GDP (billions Int. $) Nominal GDP capita ($) PPP GDP capita (Int. $) Growth (%)
USEUUSEU USEUUSEUUSEU
1960543.30---3,007-----
1961563.30---3,067---2.300-
1962605.10---3,244---6.100-
1963638.60---3,375---4.400-
1964685.80---3,574---5.800-
1965743.70---3,828---6.400-
1966815.00503.61--4,1461,339--6.500-
1967861.70547.33--4,3361,444--2.500-
1968942.50586.27--4,6961,536--4.800-
19691,019.90653.52--5,0321,701--3.100-
19701,073.30725.97--5,2341,879---0.410-
19711,164.85820.85--5,6092,113--3.2933.660
19721,279.11990.47--6,0942,533--5.2594.785
19731,425.381,282.08--6,7263,258--5.6466.033
19741,545.241,451.83--7,2263,667---0.5413.099
19751,684.901,690.95--7,8014,245---0.205-0.648
19761,873.411,770.14--8,5924,420--5.3884.898
19772,081.832,004.99--9,4534,982--4.6242.877
19782,351.602,442.81--10,5656,042--5.5353.057
19792,627.332,952.97--11,6747,272--3.1663.845
19802,857.313,303.32--12,5758,099---0.2572.071
19813,207.042,880.10--13,9767,032--2.5380.502
19823,343.792,777.48--14,4346,760---1.8030.816
19833,634.042,702.17--15,5446,559--4.5841.441
19844,037.612,603.49--17,1216,305--7.2372.485
19854,338.982,677.76--18,2376,469--4.1702.351
19864,579.633,744.19--19,0719,020--3.4632.587
19874,855.224,631.44--20,03911,125--3.4602.528
19885,236.445,084.51--21,41712,174--4.1774.168
19895,641.585,193.91--22,85712,394--3.6733.924
19905,963.146,498.785,963.146,216.7423,88915,45623,88914,7851.8863.371
19916,158.136,736.366,158.136,520.1124,34215,97324,34215,460-0.1081.841
19926,520.337,406.676,520.336,737.3625,41917,51125,41915,9293.5221.164
19936,858.566,761.536,858.566,861.6026,38715,93426,38716,1702.753-0.574
19947,287.247,162.347,287.247,195.4027,69516,83727,69516,9144.0292.649
19957,639.758,296.587,639.757,550.8228,69119,46628,69117,7162.6842.667
19968,073.128,432.158,073.127,814.9229,96819,75229,96818,3063.7731.892
19978,577.557,733.668,577.558,149.4031,45918,08931,45919,0614.4472.665
19989,062.827,969.529,062.828,547.8232,85418,61632,85419,9664.4813.019
19999,630.667,923.369,630.668,895.6134,51418,47734,51420,7454.7532.959
200010,252.307,259.9110,252.309,480.5436,33516,91036,33522,0824.1273.909
200110,581.807,387.7810,581.809,963.3237,13317,18537,13323,1760.9982.184
200210,936.408,049.7910,936.4010,421.2038,02318,68238,02324,1861.7421.123
200311,458.209,912.1411,458.2010,672.1039,49622,92339,49624,6802.8610.929
200412,213.7011,399.6012,213.7011,215.7041,71326,26441,71325,8403.7992.595
200513,036.6011,905.8013,036.6011,678.8044,11527,33344,11526,8123.5131.935
200613,814.6012,703.5013,814.6012,709.5046,29929,07046,29929,0842.8553.493
200714,451.9014,711.2014,451.9013,589.0047,97633,55147,97630,9921.8763.152
200814,712.8016,237.5014,712.8014,290.0048,38336,91448,38332,486-0.1370.646
200914,448.9014,709.8014,448.9014,035.5047,10033,36247,10031,833-2.537-4.326
201014,992.1014,541.4014,992.1014,517.9048,46732,93448,46732,8812.5642.211
201115,542.6015,738.9015,542.6015,188.6049,88335,71049,88334,4611.5511.817
201216,197.0014,632.6016,197.0015,416.4051,60333,15151,60334,9262.250-0.747
201316,784.8015,292.0016,784.8015,964.7053,10734,56153,10736,0811.842-0.048
201417,527.2015,631.3017,527.2016,443.2055,05035,23955,05037,0702.5261.574
201518,238.3013,543.8018,238.3016,987.1056,86330,46756,86338,2123.0762.302
201618,745.1013,883.4018,745.1018,075.2058,02131,16558,02140,5741.7112.007
201719,543.0014,727.9019,543.0019,032.6060,11033,00960,11042,6562.3332.803
201820,611.9015,956.5020,611.9019,938.6063,06435,70463,06444,6142.9962.114
201921,433.2015,634.0021,433.2020,793.2065,28034,96065,28046,4972.1611.560
202020,936.6015,192.7020,936.6019,923.0063,54433,92863,54444,491-3.486-6.202