The European Total Gross Value Added analysis for 2024 indicates that Italy remains the largest contributor with 1.601 trillion Euros, reflecting a modest 0.14% year-on-year increase in 2023. Noteworthy growth was observed in Luxembourg at 5.5%, Malta at 4.15%, and Estonia at 4.97%. Smaller economies such as Kosovo and Latvia also showed robust increases of 3.9% and 3.52%, respectively. The Netherlands, despite a significant base, experienced a healthy increase of 2.77%.
Future trends to watch include the potential acceleration of growth in Eastern European countries as they continue to integrate with broader EU initiatives. Additionally, advancements in technology and sustainability may drive growth, especially in smaller, adaptable economies that are rapidly modernizing their industries.
Top countries in Total Gross Value Added by Country
| # | 10 Countries | Million Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Italy | 1,601,000 | 2023 | +0.74% | +0.14% | View data |
| 2 | 2 Netherlands | 794,130 | 2023 | +1.99% | +2.77% | View data |
| 3 | 3 Finland | 226,580 | 2023 | +1.62% | +2.39% | View data |
| 4 | 4 Portugal | 188,960 | 2023 | +1.77% | +1.26% | View data |
| 5 | 5 Greece | 172,950 | 2023 | +3.54% | +1.89% | View data |
| 6 | 6 Slovakia | 90,690 | 2023 | +2.37% | +2.52% | View data |
| 7 | 7 Luxembourg | 71,670 | 2023 | +4.18% | +5.5% | View data |
| 8 | 8 Slovenia | 48,240 | 2023 | +2.7% | +3.84% | View data |
| 9 | 9 Latvia | 30,090 | 2023 | +2.27% | +3.52% | View data |
| 10 | 10 Estonia | 28,600 | 2023 | +3.31% | +4.97% | View data |
