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Austria benefits tremendously from EU single market

9. September 2014

With an average annual gain of EUR 280 per capita, Austria is the third greatest beneficiary. The top two places go to Denmark and Germany.

A study on the European single market commissioned by the Bertelsmann Foundation shows the extent to which members of the EU single market have benefited from European integration. With an average annual gain of EUR 280 per capita, Austria takes third place, ahead of Finland (EUR 220) and Sweden (EUR 180).

According to the study, greater European integration led Germany’s gross domestic product (GDP) to rise by EUR 37 bn on average every year between 1992 and 2012; an average annual gain of EUR 450 per capita. The only country to achieve even higher gains is Denmark (over EUR 500 per capita).

Southern Europe has experienced far more modest growth. The average annual gains attributable to the EU single market stand at EUR 80 per capita in Italy, EUR 70 in Spain and Greece and EUR 20 in Portugal. Great Britain brings up the rear with EUR 10 per capita.

The EU single market came into effect in 1993 and was founded on the free movement of goods, persons, services and capital. The study shows that this European integration has had a positive impact on every founding member state, albeit with highly pronounced differences. The EU single market has been of particular benefit to the countries which have extremely close economic ties to other EU countries.