21 Feb

Gross value added decreased in all regions but four (Eurostat figures)

In 2020, gross value added (GVA) decreased by 5.9% in the EU compared with 2019. The changes in the individual EU regions ranged from -22.2% in the South Aegean region in Greece to +10.7% in Southern Ireland. GVA decreased in all regions except four: the three Irish regions and Mayotte, an overseas region in France.

This information comes from data on regional national accounts published by Eurostat today (21 February 2022)

The regions with the largest falls in GVA after the South Aegean region in Greece were the Balearic Islands in Spain (-21.7%), the Ionian Islands in Greece (-20.5%), and the Canary Islands in Spain (-18.1%).

In contrast, the other three regions with increases in GVA after Southern Ireland were Eastern and Midland Ireland (+2.2%), Mayotte in France (+0.7%), and Northern and Western Ireland (+0.6%).

Regional GDP per capita ranged from 30% to 274% of the EU average in 2020

In 2020, regional GDP per capita expressed in terms of national purchasing power standards (PPS), ranged from 30% of the EU average in Mayotte, France, to 274% in Southern, Ireland.

The leading regions in the ranking of regional GDP per capita in 2020, expressed in terms of national PPS after Southern Ireland were the Grand Duchy of Luxembourg (263% of the EU average), Eastern and Midland Ireland (215%) and Brussels, Belgium (205%)

The high GDP per capita in these regions can be partly explained by a high inflow of commuting workers (Luxembourg and Brussels) or by the large number of assets owned by some multinationals domiciled in the regions (Southern, and Eastern and Midland Ireland).

In contrast, after Mayotte, the lowest regions in the ranking were all in Bulgaria: North-West (36% of the EU average), North-Central (37%), South-East (39%) and South-Central (40%). In the case of Mayotte, demographic factors mainly explain the low GDP per capita, since this was the region with the lowest median age in 2020 at 17.7 years.

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