More
10

I was aimlessly surfing wikipedia and stumbled upon a list of European GDP numbers over the last few years.

https://en.wikipedia.org/wiki/List_of_sovereign_states_in_Europe_by_GDP_(nominal)#List_of_nominal_GDP_for_European_countries_.28in_billion_USD.29

What caused the decline between 2014 and 2015 numbers. You can see a clear decline all across the board between those years while the markets where slowly climbing over all.

Did I miss a crisis, am I overlooking a reason or does wikipedia have it's head up it's ass and fucked up the numbers?

I'd also like to point out you can clearly see the economic impact of the embargoes on Russia:

2013 - 2,230.624

2016 - 1,267.754

So yeah it's hurting.
I was aimlessly surfing wikipedia and stumbled upon a list of European GDP numbers over the last few years. https://en.wikipedia.org/wiki/List_of_sovereign_states_in_Europe_by_GDP_(nominal)#List_of_nominal_GDP_for_European_countries_.28in_billion_USD.29 What caused the decline between 2014 and 2015 numbers. You can see a clear decline all across the board between those years while the markets where slowly climbing over all. Did I miss a crisis, am I overlooking a reason or does wikipedia have it's head up it's ass and fucked up the numbers? ------------------- I'd also like to point out you can clearly see the economic impact of the embargoes on Russia: 2013 - 2,230.624 2016 - 1,267.754 So yeah it's hurting.

6 comments

[–] xyzzy 6 points (+6|-0)

Wasn't that about the time of the Euro crisis? The list is in Dollars after all and European countries measure their GDP in Euros.So a tanking Euro would explain it.
[–] Boukert [OP] 4 points (+4|-0)

How silly of me, this explains it.

The GDP stayed the same in Euros so it wasn't covered as a decline in Europe just a "falling of the Euro" and a stronger dollar.
[–] Justintoxicated 3 points (+3|-0)

There was an EU crisis with Greece potentially defaulting and worries that the other EU members would have to foot the bill. Also high unemployment in Italy, Greece, and a few others (low GDP if there is lower production).

However the larger concern is that outside of Germany and Switzerland (and possibly France) many of the western European countries aren't actually producing anything and their main industries are really just becoming tourism related. Also in the case of Britain which was once the banking center of the world the financial centers have become more decentralized around the globe (especially in the wake of LIBOR).

[–] Boukert [OP] 0 points (+0|-0)

You're right it was the Euro crisis. Thing is locally GDP didnt go down (measured in EURO), just the value of the EURO compared to the dollar.

However the larger concern is that outside of Germany and Switzerland (and possibly France) many of the western European countries aren't actually producing anything and their main industries are really just becoming tourism related.

You're not thinking about Western EU here, more about Southern EU. Benelux, Scandinavia, Ger, Fra are big producing countries/regions, (Swi isnt in EU) Malta, Por, Spa, Ita, Greece, Cyprus a lot less.
[–] Greenseats 3 points (+3|-0)

I don't have a researched answer for you, but by looking at the numbers on wikipedia, it is done in USD. I believe the dollar has been strengthening a lot against other currencies over the past few years so they might account for some of the change.

[–] Boukert [OP] 2 points (+2|-0)

That's a bingo! silly of me to have overlooked.

The GDP stayed the same in Euros so it wasn't covered as a decline in Europe just a "falling of the Euro" and a stronger dollar.
©2016-2022 Phuks LLC. All Rights Reserved.
ToS | Privacy | Changelog | Canary | Donate | Bugs | License
Served by c7693d2284ae