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
202020,932.7515,167.8220,932.7519,686.8363,41634,04763,41644,191-3.505-6.122
202122,675.2717,127.5422,675.2720,918.0668,30938,39168,30946,8886.3864.364
202224,003.7018,283.8924,003.7022,233.0871,89640,92671,89649,7653.5153.938
202324,892.6119,032.7824,892.6123,250.4874,13042,54774,13051,9751.4102.271
202425,790.1219,757.6225,790.1224,188.4976,36244,11776,36254,0101.4811.907
202526,719.6320,462.3426,719.6325,068.6578,66045,64178,66055,9151.6071.646
202627,659.1521,183.9527,659.1525,938.5980,95947,20680,95957,8011.6101.569

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-
1966815.00503.75--4,1461,340--6.500-
1967861.70547.48--4,3361,445--2.500-
1968942.50586.43--4,6961,537--4.800-
19691,019.90653.70--5,0321,701--3.100-
19701,073.30726.18--5,2341,880---0.323-
19711,164.85821.09--5,6092,114--3.2933.661
19721,279.11990.76--6,0942,534--5.2594.786
19731,425.381,282.45--6,7263,259--5.6466.034
19741,545.241,452.25--7,2263,668---0.5413.097
19751,684.901,691.44--7,8014,246---0.205-0.647
19761,873.411,770.65--8,5924,421--5.3884.898
19772,081.832,005.57--9,4534,984--4.6242.877
19782,351.602,443.52--10,5656,044--5.5353.058
19792,627.332,953.82--11,6747,274--3.1663.845
19802,857.313,304.28--12,5758,101---0.2572.071
19813,207.042,880.94--13,9767,034--2.5380.502
19823,343.792,778.29--14,4346,762---1.8030.816
19833,634.042,702.96--15,5446,561--4.5841.441
19844,037.612,604.25--17,1216,307--7.2372.485
19854,338.982,678.54--18,2376,471--4.1702.351
19864,579.633,745.28--19,0719,023--3.4632.586
19874,855.224,632.79--20,03911,128--3.4602.527
19885,236.445,085.99--21,41712,178--4.1774.169
19895,641.585,195.42--22,85712,397--3.6733.924
19905,963.146,500.675,963.146,219.8723,88915,46023,88914,7921.8863.370
19916,158.136,732.666,158.136,520.6924,34215,96424,34215,462-0.1081.808
19926,520.337,401.126,520.336,736.4125,41917,49825,41915,9273.5221.146
19936,858.566,757.766,858.566,861.4426,38715,92526,38716,1702.753-0.565
19947,287.247,159.247,287.247,195.5127,69516,82927,69516,9154.0292.652
19957,639.758,296.657,639.757,551.4628,69119,46628,69117,7182.6842.673
19968,073.128,432.258,073.127,815.6229,96819,75229,96818,3083.7731.893
19978,577.557,733.668,577.558,150.0531,45918,08931,45919,0634.4472.664
19989,062.827,969.489,062.828,548.4632,85418,61632,85419,9684.4813.019
19999,630.667,923.329,630.668,896.2834,51418,47734,51420,7464.7532.959
200010,252.307,259.8910,252.309,480.5236,33516,91036,33522,0824.1273.903
200110,581.807,387.7310,581.809,963.2737,13317,18537,13323,1760.9982.184
200210,936.408,049.7910,936.4010,421.2038,02318,68238,02324,1861.7421.124
200311,458.209,912.1611,458.2010,672.1039,49622,92339,49624,6802.8610.931
200412,213.7011,399.5012,213.7011,215.6041,71326,26441,71325,8403.7992.595
200513,036.6011,905.8013,036.6011,678.7044,11527,33344,11526,8123.5131.934
200613,814.6012,703.6013,814.6012,709.6046,29929,07046,29929,0842.8553.494
200714,451.9014,711.3014,451.9013,589.0047,97633,55247,97630,9921.8763.152
200814,712.8016,237.8014,712.8014,290.1048,38336,91448,38332,487-0.1370.645
200914,448.9014,710.3014,448.9014,035.9047,10033,36347,10031,833-2.537-4.326
201014,992.1014,544.1014,992.1014,520.6048,46832,94048,46832,8872.5642.210
201115,542.6015,744.2015,542.6015,193.6049,88735,72249,88734,4721.5511.832
201216,197.0014,636.3016,197.0015,420.5051,61133,15951,61134,9362.250-0.752
201316,784.8015,293.4016,784.8015,966.4053,11834,56453,11836,0851.842-0.055
201417,527.2015,632.6017,527.2016,445.0055,06535,24255,06537,0742.5261.573
201518,224.7013,545.1018,224.7016,989.0056,83930,47056,83938,2172.9082.301
201618,715.0013,886.8018,715.0018,080.1057,95231,17257,95240,5851.6382.045
201719,519.4014,758.4019,519.4019,094.1060,06233,08160,06242,7992.3702.789
201820,580.2015,965.0020,580.2020,572.4062,99635,73462,99646,0462.9272.118
201921,433.2015,626.4021,433.2021,406.7065,29834,91365,29847,8282.1611.554