In 2023, Italy remained a leading contributor to Europe's Total Gross Value Added, although its share grew marginally. The Netherlands, Finland, and Slovakia showcased significant growth, notably with the Netherlands increasing by 2.77% and Slovakia by 2.52%. Luxembourg experienced the highest growth at 5.5%, followed by Malta and Estonia. Eastern European countries like Latvia, Estonia, and Slovenia also demonstrated robust increases, signaling shifting dynamics.
Looking forward, expect continued growth in smaller economies such as Luxembourg, facilitated by advancements in technology and finance sectors. Meanwhile, Western Europe's stable markets like Italy may experience slower growth due to market saturation.
Top countries in Total Gross Value Added Share by Country (Million Euros)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Italy | 48.53 | 2023 | +0.74% | +0.14% | View data |
| 2 | 2 Netherlands | 24.07 | 2023 | +1.99% | +2.77% | View data |
| 3 | 3 Finland | 6.87 | 2023 | +1.62% | +2.39% | View data |
| 4 | 4 Portugal | 5.73 | 2023 | +1.77% | +1.26% | View data |
| 5 | 5 Greece | 5.24 | 2023 | +3.54% | +1.89% | View data |
| 6 | 6 Slovakia | 2.75 | 2023 | +2.37% | +2.52% | View data |
| 7 | 7 Luxembourg | 2.17 | 2023 | +4.18% | +5.5% | View data |
| 8 | 8 Slovenia | 1.46 | 2023 | +2.7% | +3.84% | View data |
| 9 | 9 Latvia | 0.91 | 2023 | +2.27% | +3.52% | View data |
| 10 | 10 Estonia | 0.87 | 2023 | +3.31% | +4.97% | View data |
