THE HAGUE, Friday - The Randstad region is the fourth largest economic urban region in the European Union. Paris, London and Milan are bigger, the Central Bureau for Statistics (CBS) reports based on data from 2005.

Gross Domestic Product (GDP) of Paris and London was more than twice in 2005 as high as the Randstad's GDP. The Randstad, together with Milan, has a 'best of the rest' position, according to CBS. The Flemish Diamond region in Belgium completes the top 5.

In the GDP per capita rankings, the Randstad region is however outperformed by various smaller cities in Europe. Munich tops the list here, with per capita output exceeding 50,000 euros in 2005. Together with Vienna, the Flemish Diamond, Frankfurt, Hamburg, Lyon, Rome and Milan, the Randstad takes up a middle position with a GDP per capita of approximately 35,000 euros.

In urban regions with high GDP per capita, business and financial services play a prominent role. On average, 38 percent of the output in Munich, Copenhagen, Stockholm and Paris is generated by business and financial services providers.

The comparable share in the Randstad is 33 percent. The manufacturing industry and agriculture sectors are relatively big in the Randstad region.

In 2005, the Randstad region generated economic growth of 1.8 percent. The fastest economic growth was recorded in Dublin, Stockholm and Copenhagen (nearly 5 percent or more). Lisbon, Milan and Berlin, on the other hand, faced an economic downturn.

The Randstad region comprises Amsterdam, Rotterdam, The Hague and Utrecht.