An overview of the economies of the new Member States

European Commission Eurostat

Description

Economy and finance

Informations

• Publié par: EUROPEAN-COMMISSION-EUROSTAT
• Nombre de lectures: 11
• Langue: English

Extrait

Statistics

in focus

ECONOMY AND FINANCE

THEME 2  17/2004

C o n t e n t s

Economic growth ...2

Expenditure components of GDP ....3

Household consumption and consumer prices .....4

Employment .....5

Unemployment ....6

Gross value added by industry ..7

Productivity and unit labour cost .8

Public debt and deficit ..9

Exchange rates and long-term interest rates .....10

International trade in goods and services, foreign direct invest- ment .....11

 Manuscript completed on: 27.02.2004 ISSN 1024-4298 Catalogue number: KS-NJ-04-017-EN-C © European Communities, 2004

An Overview of the Economies of the New Member States z z z z z z z z z z z z z z z z z z z z z z z z z z z z z z z z z z z z z z z z z z z Ingo KUHNERT

With the accession of ten new Member States on 1 May 2004, the European Union will undergo the most important enlargement in its history. The Unions population will rise from 381 million to 455 million, which means that the population of the ten new members combined (ACC) will have a share of 16% in the whole of the enlarged European Union (EU-25 from 1 May 2004 2 onwards). With an area of 73.9 million km the ACC amount to 19% of the areaof the EU-25. In contrast, theGross Domestic Product (GDP) of the ACC represents a mere 5% of the EU-25 GDP. Per capita, GDP in the ACC  expressed in Purchasing Power Standards (PPS)  is less than 50% of the value of the current European Union (EU-15).

The largest country among the new Member States, in terms of area, population and GDP, is Poland, well ahead of Hungary and the Czech Republic. For GDP per capita, Cyprus, Slovenia and Malta show the highest values, while the Baltic countries and Poland show the lowest.

Table 1. Main indicators, 2002 Population Area

EU-25 EU-15 ACC

million  454.9  380.8  74.1

2 km 3 972 868 3 234 295 738 574

GDP GDP PPS per head billion Euro EU-15=100 9 612.7 91 9 168.5 100  444.1 47

GDP growth 2002/2001 in % 1.1 1.0 2.4

 10.2 78.2 62 2.0 CZ78 865  1.3 6.9 40 6.0 EE45 227 0.7 10.8 77 2.0 CY 9 251  2.3 8.9 35 6.1 LV64 589  3.4 14.7 39 6.8 LT65 300  10.1 68.9 53 3.5 HU93 034 0.4 4.4 69 1.7 MT 316  38.2 202.3 41 1.4 PL312 685  2.0 23.3 69 2.9 SI20 273  5.4 25.7 47 4.4 SK49 033 CZ:Czech Republic,EE:Estonia,CY:Cyprus,LV:Latvia,LT:Lithuania,HU:Hungary, MT:Malta,PL:Poland,SI:Slovenia,SK:Slovakia Figure 1. Relative sizes of old and new Member States in the EU-25 Population Area GDP ACC ACC ACC 5% 16% 19%

EU-15 84%

EU-15 81%

EU-15 95%