Since 1980, Europe's largest economies have consistently been France, Germany, Italy, Spain, and the United Kingdom, although the former Soviet Union's economy was the largest in the 1980s, and Russia's economy has been larger than Spain's since 2010. Since Soviet dissolution, Germany has always had the largest economy in Europe, while either France or the UK has had the second largest economy depending on the year. Italy's economy was of a relatively similar size to that of the UK and France until the mid 2000s when it started to diverge, resulting in a difference of approximately 800 billion U.S dollars by 2018. Russia's economy had overtaken both Italy and Spain's in 2012, but has fallen since 2014 due to the drop in international oil prices and the economic sanctions imposed for its annexation of Crimea - economic growth is expected to be comparatively low in Russia in the coming years due to the economic fallout of its invasion of Ukraine in 2022.
Gross domestic product (GDP) at current prices of Europe's largest economies from 1980 to 2029
(in billion U.S dollars)
Characteristic
Germany**
United Kingdom
France
Italy
Russia
Spain
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IMF. (April 22, 2024). Gross domestic product (GDP) at current prices of Europe's largest economies from 1980 to 2029 (in billion U.S dollars) [Graph]. In Statista. Retrieved August 24, 2024, from https://www.statista.com/statistics/959301/gdp-of-europes-biggest-economies/
IMF. "Gross domestic product (GDP) at current prices of Europe's largest economies from 1980 to 2029 (in billion U.S dollars)." Chart. April 22, 2024. Statista. Accessed August 24, 2024. https://www.statista.com/statistics/959301/gdp-of-europes-biggest-economies/
IMF. (2024). Gross domestic product (GDP) at current prices of Europe's largest economies from 1980 to 2029 (in billion U.S dollars). Statista. Statista Inc.. Accessed: August 24, 2024. https://www.statista.com/statistics/959301/gdp-of-europes-biggest-economies/
IMF. "Gross Domestic Product (Gdp) at Current Prices of Europe's Largest Economies from 1980 to 2029 (in Billion U.S Dollars)." Statista, Statista Inc., 22 Apr 2024, https://www.statista.com/statistics/959301/gdp-of-europes-biggest-economies/
IMF, Gross domestic product (GDP) at current prices of Europe's largest economies from 1980 to 2029 (in billion U.S dollars) Statista, https://www.statista.com/statistics/959301/gdp-of-europes-biggest-economies/ (last visited August 24, 2024)
Gross domestic product (GDP) at current prices of Europe's largest economies from 1980 to 2029 (in billion U.S dollars) [Graph], IMF, April 22, 2024. [Online]. Available: https://www.statista.com/statistics/959301/gdp-of-europes-biggest-economies/