The European Union remains the second largest contributor to global gross domestic product (GDP) immediately after the United States, according to the Eurostat data. The comparison, which looks at a number of areas such as population numbers, living conditions, health care, labor market, economy and finance, international trade and others, the G20 countries generated 86% of global GDP in 2016.
The EU share in 2016 was 22%, down from 30% ten years earlier. At the same time, the US share also fell to 26%.
Unlike the EU and US economies, however, China increased its share almost three times from 5% to 15% within the same period, ahead of Japan (9% in 2006 and 7% in 2016). Growth is also noted by India – from the tenth largest economy in 2006, it becomes 5th. India and China are the two countries with the highest gross domestic product growth between 2006 and 2016.
The data also shows that the European Union ranks fifth among the G20 in terms of electricity from renewable sources and waste. With its share of 14%, the EU is ahead of China, with 9%, and the United States (7%). Leader is Brazil, where 40% of the electricity is produced by renewable energy sources and waste, followed by Indonesia (33%), India (25%) and Canada (18%).
The smallest share is in South Korea and Russia (3%) and Saudi Arabia (0%).
In terms of population, the picture is not as good for the European Union. According to the Eurostat survey for 50 years, the EU’s share of the world’s population (7.4 billion in 2015) has fallen by almost half – from 13% in 1965 to 7% in 2015.
The world’s most populous countries are China and India, which together account for 37% of the world’s population and 57% of the G20’s population. In 2015, 1.4 billion people live in China, and 1.3 billion people in India.
The G20 group brings together the twenty most advanced economies, including four EU members (Germany, France, Italy and the UK), as well as 15 other countries – Argentina, Australia, Brazil, Canada, China, India, Indonesia, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey and the United States.