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Friday, 10 May, 2002, 06:20 GMT 07:20 UK
London tops economic league
London
London: A bigger economy than Sweden
London has a bigger economy than any other European city, a new report has shown.

The UK capital's gross domestic product is estimated at 159bn a year, ahead of second-ranked Paris with 89bn, the report from Barclays Private Clients said.

The figures mean that London would come ninth in a league table of national European economies, ahead of Sweden, Poland, Norway, Austria and Denmark.

Barclays said the report reflected a growing concentration of economic activity in major cities.

"Some cities are already bigger than fairly large nation states, and it would seen their importance in terms of wealth generation can only grow," said Gordon Rankin, marketing director of Barclays Private Clients.

Wealth effect

Paris accounts for more than a fifth of France's GDP, while Dublin generates about a third of Ireland's economic output, the report suggests.

However, London came a lowly 23rd in terms of economic output per head of population, with an average figure of 21,815.

The UK capital, with one eighth of the country's population, accounts for one sixth of its GDP.

Frankfurt-am-Main was deemed Europe's wealthiest city, with average output per head amounting to 43,317, ahead of Karlsruhe.

Paris, with average output per head of 41,799, was ranked third.

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