Which of these economies are bigger? EU or U.S.A.?

Question

Hey beloved british. Here a proud cousin is asking from merry ol´ germany :).

Answer 1

The EU economy is larger by about €1trillion. This is according to the IMF. These figures are before the addition of Romania and Bulgaria and the resurgent Germany in the last two quaters of last year.

EU €10,212,972 - USA €9,421,082

I recognise Kenneth C's figures from the CIA, slightly biased wouldn't you say.

The EU has a massive internal market, a larger population by about 150million, and the EU is the strongest member of the WTO.

Answer 2

Contrary to what the previous two respondants say, the International Herald Tribune, a mouthpiece of the New York Times, reports weekly on the overall size of the worlds largest economies and the US economy is almost a third larger than the EU. I don't remember the exact figures but it is usually found in the Monday edition of the paper, business section, towards the back.

Answer 3

The EU of 28 states is, as every international agency from the UN to the OECD testifies bigger together than than the US is in terms of GDP.

But calling it one economy when there are still barriers to the free movement of labour; more than 10 currencies in use; and 28 VERY DIVERGENT sets of law & legislation is something that not all will support. Just as nobody sees the British Commonwealth as one big economy anymore, so should they not, in my view regard the US as one either. Sure, there are federal regulators, but there are also state laws, making the rules of the game vary from state to state (which is a good thing - true democracy gives regions the power to do things differently than the rest of the federation).

Answer 4

Eu is a much bigger Economy

Answer 5

Obviously EU is the bigger economy from its community made up of all its powerful countires. This is portrayed by weaker dollar value against Euro currency.

Bigger economy, means higher GDP.

Exchange rate falls (depreciate) for the following reasons;
- relative investment prospects improving in Europe, so more inflow of direct investment in EU,contributing to higher GDP. Hence demand for $U.S falls (depreciated) to induce demand.
-U.S goods are becoming less competitive eg; taste for European goods increases, so again demand for $U.S falls, depreciation of dollars against Euro to influence demand for U.S currency

I've mentioned a few causes for the economic difference.

Answer 6

As of 2006, the EU Gdp is 12.82 trillion us dollars and the US GDP is $12.98 trillion us dollars. The US has the larger economy.

Answer 7

Same as yesterday. The EU.

Answer 8

the EU