European Union economy graph showing purchasing power parity (PPP) growth from 1990 to today. Purchasing power parity adjusts the size of the economy to relevant price levels, i.e. measuring the price of specific goods in different countries and adjusting GDP accordingly.
The EU had a GDP per capita (PPP) of about $46,000 in 2023. Its economy is highly developed, driven by advanced manufacturing, financial services, trade, and agriculture.