Some of the smaller countries within the Euro-area have been in the news recently, especially Slovakia given their initial ‘no’ vote on the expansion of the EFSF.
Everyone knows how big Germany, France and Italy are within the Euro-area, but how big is Slovakia (other than saying it is small). Using the updated IMF data released last month, the table below and graphs attached provide a breakdown of GDP by the 17 countries that comprise the Euro-area (data is for 2011).
In total, the Euro-area represents 19.1% of world GDP (2011), having peaked at 23.2% in 2004. That means that a country like Slovakia is a whole 0.1% of world GDP and Greece is 0.4% of World GDP. Together, Germany, France, Italy and Spain represent 76.5% of Euro-area GDP and a significant 14.6% of world GDP. (This year, the US will fall to 21.5% of world GDP, China rises to 10% and Japan falls to 8.4%).
Percentage of Euro-area GDP (2011)
| Malta |
0.1 |
| Estonia |
0.2 |
| Cyprus |
0.2 |
| Slovenia |
0.4 |
| Luxembourg |
0.5 |
| Slovakia |
0.7 |
| Ireland |
1.7 |
| Portugal |
1.8 |
| Finland |
2.0 |
| Greece |
2.3 |
| Austria |
3.2 |
| Belgium |
4.0 |
| Netherlands |
6.4 |
| Spain |
11.5 |
| Italy |
16.8 |
| France |
21.0 |
| Germany |
27.2 |
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