Visualized: How Canada Would Rank in the EU by Five Metrics

Pallavi Rao
2025-05-09 11:41:00
www.visualcapitalist.com

Visualized: How Canada Would Rank in the EU on Five Metrics

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In January, The Economist ran a headline stating: Why Canada Should Join the EU.

“Europe needs space and resources, Canada needs people. Let’s deal.” — The Economist.

It is an opinion piece looking at the pros and cons of a thought experiment.

While impossible under generally-understood EU membership criteria (i.e., actually being a part of the continent), we pulled some relevant data to see how Canada would rank amidst other EU countries.

Figures from this graphic are sourced from a variety of organizations: the International Monetary Fund (GDP and GDP per capita), Eurostat and Statistics Canada (university education, home ownership rate) and NATO (military spending).

All figures in percentages or U.S. dollars where applicable. Years vary per metric and are listed in the table in the next section. Average currency exchange rates for 2023 were used for military spending comparisons.

Canada in the EU: Where it Shines and Where it Doesn’t

Canada would rank 4th by GDP ($2.2T) and 10th by GDP per capita ($54,000) amongst 27 EU countries.

EU Country / Canada	GDP ($ Billions, 2025)	GDP Per Capita (USD, 2025)	Military Spending ($ Millions, 2023)
Austria	$534	$58,192	$3,117
Belgium	$685	$57,772	$6,110
Bulgaria	$117	$18,522	$1,502
Canada	$2,225	$53,558	$29,146
Croatia	$99	$25,674	$1,108
Cyprus	$39	$41,132	$647
Czech Republic	$360	$33,039	$4,113
Denmark	$450	$74,969	$7,365
Estonia	$45	$32,760	$1,135
Finland	$304	$54,163	$4,250
France	$3,211	$46,792	$55,830
Germany	$4,745	$55,911	$50,188
Greece	$267	$25,756	$5,454
Hungary	$237	$24,809	$3,999
Ireland	$599	$108,919	$1,344
Italy	$2,423	$41,091	$27,711
Latvia	$46	$24,374	$1,331
Lithuania	$89	$30,835	$2,020
Luxembourg	$97	$140,941	$474
Malta	$26	$45,735	$96
Netherlands	$1,272	$70,480	$15,538
Poland	$980	$26,805	$16,632
Portugal	$321	$30,002	$2,235
Romania	$403	$21,421	$5,964
Slovakia	$147	$27,130	$1,627
Slovenia	$75	$35,332	$850
Spain	$1,800	$36,192	$15,140
Sweden	$620	$58,100	$10,354

In fact, Canada’s performance is mostly par for course with its economy size and comparisons are best suited with similar large economies.

For example, Canada is behind EU leaders—Germany and France—when it comes to military spending.

When it comes to GDP per capita, it only lags one peer economy: Germany, outperforming both France and Italy.

Notably, it has the highest share of university-educated adults.

EU Country / Canada	College Degrees (%, 2024)	Home Ownership Rate (%, 2023)
Austria	37	54
Belgium	45	72
Bulgaria	34	86
Canada	58	67
Croatia	30	91
Cyprus	51	69
Czech Republic	28	76
Denmark	45	60
Estonia	42	81
Finland	43	69
France	43	63
Germany	35	48
Greece	35	70
Hungary	31	91
Ireland	57	69
Italy	22	75
Latvia	40	83
Lithuania	48	89
Luxembourg	55	68
Malta	36	75
Netherlands	45	69
Poland	40	87
Portugal	31	76
Romania	19	96
Slovakia	29	94
Slovenia	35	75
Spain	42	75
Sweden	51	65

Note: Canada’s college degree figure is from 2021, and its home ownership rate is from 2022. College degrees measure the share of the population aged 25–64 with a university degree or higher.

The one metric where Canada is in the bottom 10 is home ownership rates. It would be sixth-lowest in the EU.

Worth mentioning here is that Eurostat measures this metric a little differently than Statistics Canada, which may result in some variations in direct comparison.

Is a EU Trade Deal Expected for Canada?

In the wake of Trump Administration tariffs and “Canada as the 51st state” rhetoric, commenters of both sides of the Atlantic are saying Canada should form closer ties with the EU.

Mark Carney, the newly elected Canadian prime minister, is pro-Europe. Ideologically he’s been compared to France’s Emmanuel Macron. Carney holds both British and EU citizenship and previously voiced deep concerns about Brexit during his tenure at the Bank of England.

The benefits of some sort of alliance are obvious: Canada and the EU have similar social welfare systems, approaches to governance, and tradable resources.

Is Canada-EU a pipe dream? Or a new era of geopolitical alliances?

Learn More on the Voronoi App

Want some more EU information? Check out: The $19 Trillion EU Economy in One Chart for quick insights.

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