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Europe 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 Russia $2.00 trillion 2012
5 Italy $1.99 trillion 2012
6 Spain $1.31 trillion 2012
7 Turkey $777.60 billion 2012
8 Netherlands $760.40 billion 2012
9 Switzerland $622.60 billion 2012
10 Sweden $516.70 billion 2012
11 Norway $492.90 billion 2012
12 Poland $483.20 billion 2012
13 Belgium $477.40 billion 2012
14 Denmark $310.60 billion 2012
15 Greece $245.80 billion 2012
16 Finland $244.30 billion 2012
17 Portugal $209.60 billion 2012
18 Ireland $208.00 billion 2012
19 Czech Republic $193.00 billion 2012
20 Ukraine $173.90 billion 2012
21 Romania $167.10 billion 2012
22 Hungary $124.00 billion 2012
23 Slovakia $90.67 billion 2012
24 Azerbaijan $67.87 billion 2012
25 Belarus $62.40 billion 2012
26 Luxembourg $56.37 billion 2012
27 Croatia $55.71 billion 2012
28 Bulgaria $50.33 billion 2012
29 Slovenia $44.81 billion 2012
30 Lithuania $41.57 billion 2012
31 Serbia $38.02 billion 2012
32 Latvia $28.00 billion 2012
33 Cyprus $22.69 billion 2012
34 Estonia $22.10 billion 2012
35 Bosnia and Herzegovina $17.09 billion 2012
36 Georgia $15.62 billion 2012
37 Iceland $13.47 billion 2012
38 Albania $12.38 billion 2012
39 Armenia $9.78 billion 2012
40 Republic of Macedonia $9.50 billion 2012
41 Malta $8.63 billion 2012
42 Moldova $7.15 billion 2012
43 Kosovo $6.36 billion 2012
44 Monaco $5.75 billion 2011
45 Liechtenstein $5.11 billion 2010
=46 Austria $4.80 billion 2012
=46 Andorra $4.80 billion 2012
48 Montenegro $4.16 billion 2012
49 San Marino $1.83 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/Europe/Economy/GDP/Official-exchange-rate

Europe Compared by Economy > GDP > Official exchange rate

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