GDP in USD PPP terms reached 19,397 USD bil in 2020 in European Union, according to the National Statistical Office. This is 6.38 % less than in the previous year.
Historically, GDP in USD PPP terms in European Union reached an all time high of 20,720 USD bil in 2019 and an all time low of 3,473 USD bil in 1980. When compared to European Union's main peers, GDP in USD PPP terms in China amounted to 24,162 USD bil, 5,236 USD bil in Japan, 4,022 USD bil in Russia and 20,807 USD bil in USA in 2020.
European Union has been ranked 5th within the group of 175 countries we follow in terms of GDP in USD PPP terms, 2 places behind the position seen 10 years ago.
GDP based on purchasing power parity is the gross domestic product converted to international dollars using purchasing power parity rates.