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European Union Compared by Economy > GDP > Official exchange rate

DEFINITION: This entry gives the gross domestic product (GDP) or value of all final goods and services produced within a nation in a given year. A nation's GDP at offical exchange rates (OER) is the home-currency-denominated annual GDP figure divided by the bilateral average US exchange rate with that country in that year. The measure is simple to compute and gives a precise measure of the value of output. Many economists prefer this measure when gauging the economic power an economy maintains vis-a-vis its neighbors, judging that an exchange rate captures the purchasing power a nation enjoys in the international marketplace. Official exchange rates, however, can be artifically fixed and/or subject to manipulation - resulting in claims of the country having an under- or over-valued currency - and are not necessarily the equivalent of a market-determined exchange rate. Moreover, even if the official exchange rate is market-determined, market exchange rates are frequently established by a relatively small set of goods and services (the ones the country trades) and may not capture the value of the larger set of goods the country produces. Furthermore, OER-converted GDP is not well suited to comparing domestic GDP over time, since appreciation/depreciation from one year to the next will make the OER GDP value rise/fall regardless of whether home-currency-denominated GDP changed.

CONTENTS

# COUNTRY AMOUNT DATE GRAPH HISTORY
1 Germany $3.38 trillion 2012
2 France $2.58 trillion 2012
3 United Kingdom $2.44 trillion 2012
4 Italy $1.99 trillion 2012
5 Spain $1.31 trillion 2012
6 Netherlands $760.40 billion 2012
7 Sweden $516.70 billion 2012
8 Poland $483.20 billion 2012
9 Belgium $477.40 billion 2012
10 Austria $417.90 billion 2012
11 Denmark $310.60 billion 2012
12 Greece $245.80 billion 2012
13 Finland $244.30 billion 2012
14 Portugal $209.60 billion 2012
15 Ireland $208.00 billion 2012
16 Czech Republic $193.00 billion 2012
17 Romania $167.10 billion 2012
18 Hungary $124.00 billion 2012
19 Slovakia $90.67 billion 2012
20 Luxembourg $56.37 billion 2012
21 Croatia $55.71 billion 2012
22 Bulgaria $50.33 billion 2012
23 Slovenia $44.81 billion 2012
24 Lithuania $41.57 billion 2012
25 Latvia $28.00 billion 2012
26 Cyprus $22.69 billion 2012
27 Estonia $22.10 billion 2012
28 Malta $8.63 billion 2012

Citation

"Countries Compared by Economy > GDP > Official exchange rate. International Statistics at NationMaster.com", CIA World Factbooks 18 December 2003 to 28 March 2011. Aggregates compiled by NationMaster. Retrieved from http://www.nationmaster.com/country-info/group-stats/European-Union/Economy/GDP/Official-exchange-rate

European Union Compared by Economy > GDP > Official exchange rate

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