13, Feb 2012, CET. Welcome to the Econ Stats Beta from EconomyWatch.com.

Country: European Union
National or Regional Currency: US Dollar, US$
Year of data: 1980 › Change year
Date of Last Update: 1st August 2011
Area: total: 4,324,782 sq km
Natural Resources: iron ore, natural gas, petroleum, coal, copper, lead, zinc, bauxite, uranium, potash, salt, hydropower, arable land, timber, fish
Capital: name: Brussels (Belgium), Strasbourg (France), Luxembourg geographic coordinates: (Brussels) 50 50 N, 4 20 E time difference: UTC+1 (6 hours ahead of Washington, DC during Standard Time) daylight saving time: +1hr, begins last Sunday in March; ends last Sunday in October note: the Council of the European Union meets in Brussels, Belgium; the European Parliament meets in Brussels and Strasbourg, France; the Court of Justice of the European Union meets in Luxembourg
Data Source: All Sources (IMF, World Bank, UN, OECD, CIA World Factbook, Internet World Statistics, The Heritage Foundation and Transparency International)
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GDP Growth (Constant Prices, National Currency) for European Union in year 1980 is 0.49 %. Annual percentages of constant price GDP are year-on-year changes; the base year is country-specific.

GDP (Current Prices, US Dollars) for European Union in year 1980 is US$ 3,652.04 Billion. Values are based upon GDP in national currency and the exchange rate projections provided by country economists for the group of other emerging market and developing countries. Exchanges rates for advanced economies are established in the WEO assumptions.

GDP (PPP), US Dollars for European Union in year 1980 is US$ 3,541.70 Billion. Gross domestic product based on purchasing-power-parity (PPP) valuation of country GDP. These data form the basis for the country weights used to generate the World Economic Outlook country group composites for the domestic economy. Please note: The IMF is not a primary source for purchasing power parity (PPP) data. WEO weights have been created from primary sources and are used solely for purposes of generating country group composites.

GDP Per Capita (PPP), US Dollars for European Union in year 1980 is US$ 8,202.87 . Gross domestic product based on purchasing-power-parity (PPP) per capita GDP. These data form the basis for the country weights used to generate the World Economic Outlook country group composites for the domestic economy. Please note: The IMF is not a primary source for purchasing power parity (PPP) data. WEO weights have been created from primary sources and are used solely for purposes of generating country group composites.

GDP Share of World Total (PPP) for European Union in year 1980 is 31.306 %. Gross domestic product based on purchasing-power-parity (PPP) share of world total. These data form the basis for the country weights used to generate the World Economic Outlook country group composites for the domestic economy. Please note: The IMF is not a primary source for purchasing power parity (PPP) data. WEO weights have been created from primary sources and are used solely for purposes of generating country group composites.

Investment (% of GDP) for European Union in year 1980 is 24.003 %. Data are based on individual countries' national accounts statistics. For many countries, the estimates of national saving are built up from national accounts data on gross domestic investment and from balance of payments-based data on net foreign investment.

Gross National Savings (% of GDP) for European Union in year 1980 is 22.225 %. Data are based on individual countries' national accounts statistics. For many countries, the estimates of national saving are built up from national accounts data on gross domestic investment and from balance of payments-based data on net foreign investment.

Inflation (Average Consumer Price Change %) for European Union in year 1980 is 12.441 %. Data for inflation are averages for the year, not end-of-period data.

Inflation (End of Year Change %) for European Union in year 1980 is n/a %. Data for inflation are end of the period, not annual average data.

General government revenue (% of GDP) for European Union in year 1980 is n/a %. Revenue consists of taxes, social contributions, grants receivable, and other revenue. Revenue increases government?s net worth, which is the difference between its assets and liabilities (GFSM 2001, paragraph 4.20). Note: Transactions that merely change the composition of the balance sheet do not change the net worth position, for example, proceeds from sales of nonfinancial and financial assets or incurrence of liabilities.

General government total expenditure (% of GDP) for European Union in year 1980 is n/a %. Total expenditure consists of total expense and the net acquisition of nonfinancial assets. Note: Apart from being on an accrual basis, total expenditure differs from the GFSM 1986 definition of total expenditure in the sense that it also takes the disposals of nonfinancial assets into account.

Total Government Net Lending/ Borrowing (% of GDP) for European Union in year 1980 is n/a %.

General Government Balance (% of GDP) for European Union in year 1980 is n/a %. Primary net lending/borrowing is net lending (+)/borrowing (?) plus net interest payable/paid (interest expense minus interest revenue).

Total Government Net Debt (% of GDP) for European Union in year 1980 is n/a %. Net debt is calculated as gross debt minus financial assets corresponding to debt instruments. These financial assets are: monetary gold and SDRs, currency and deposits, debt securities, loans, insurance, pension, and standardized guarantee schemes, and other accounts receivable.

Total Government Gross Debt (% of GDP) for European Union in year 1980 is n/a %. Gross debt consists of all liabilities that require payment or payments of interest and/or principal by the debtor to the creditor at a date or dates in the future. This includes debt liabilities in the form of SDRs, currency and deposits, debt securities, loans, insurance, pensions and standardized guarantee schemes, and other accounts payable. Thus, all liabilities in the GFSM 2001 system are debt, except for equity and investment fund shares and financial derivatives and employee stock options. Debt can be valued at current market, nominal, or face values (GFSM 2001, paragraph 7.110).

Current Account Balance (US Dollars) for European Union in year 1980 is US$ -71.462 Billion. Current account is all transactions other than those in financial and capital items. The major classifications are goods and services, income and current transfers. The focus of the BOP is on transactions (between an economy and the rest of the world) in goods, services, and income.

Current Account Balance (% GDP) for European Union in year 1980 is -1.957 %. Current account is all transactions other than those in financial and capital items. The major classifications are goods and services, income and current transfers. The focus of the BOP is on transactions (between an economy and the rest of the world) in goods, services, and income.