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Top 20 Richest Countries In Europe 2022 (Updated GDP)

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Top 20 Richest Countries In Europe 2022 (Updated GDP). Europe’s history features many innovations and civilizations, and it continues to dominate in areas such as technology, exports, industrialization, engineering, and services.

Richest Countries In Europe

The most common fundamental measure of national wealth is Gross Domestic Product (GDP), which measures the value of all the goods and services produced by that country during a given time period (typically a year).

Have you been asking questions like; What are the richest countries in Europe? The European economy can be divided into two large blocks: on the one hand, the most developed countries of the continent, located in the western and northern areas, and on the other hand, the less developed countries but with high growth, located further to the east.

In terms of nominal GDP, in Europe countries such as Germany, the United Kingdom, France, Italy, Russia, and Spain stand out. In terms of GDP per capita, however, the leaders are others such as Luxembourg, Switzerland, Ireland, or Norway.

As we said before, as a general rule, the richest countries in Europe are in the western part of the continent, while the least economically developed are in Eastern Europe. Regarding the latter group, many were part of the former Yugoslavia and the Soviet Union, and their economies suffered significant stagnation after both dissolutions. Despite this, states such as Slovenia or Estonia have experienced great growth in recent years.

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In fact, in terms of Gross Domestic Product, countries such as Hungary, Estonia, Romania, Serbia or Moldova have experienced annual growth of over 4% in recent years.

Top 20 Richest Countries In Europe By Their GDP Per Capita

S/N Country GDP per capita (in USD)
1. Luxembourg 137,950
2. Ireland 108,160
3. Switzerland 98,770
4. Norway 84,120
5. Iceland 72,320
6. Denmark 70,770
7. Sweden 61,680
8. Netherlands 61,160
9. Austria 57,880
10. Finland 56,830
11. Germany 54,650
12. San Marino 53,800
13. Belgium 53,450
14. United Kingdom 50,880
15. France 47,950
16. Andorra 42,710
17. Italy 38,170
18. Malta 34,550
19. Spain 33,170

It is important to remember that nominal GDP represents the monetary value of the goods and services that are produced in a country during a given period of time. Therefore, this metric provides us with a wealth of the country as a whole, that is, in a more generalized way than, for example, GDP per capita.

See Also: Top 10 Richest Countries In Africa

Top 20 Richest Countries In Europe By Their Nominal GDP

S/N Country Nominal GDP (in millions of USD)
1. Germany 4,560,000
2. United Kingdom 3,440,000
3. France 3,140,000
4. Italy 2,270,000
5. Russia 1,700,000
6. Spain 1,570,000
7. Netherlands 1,070,000
8. Switzerland 862,820
9. Turkey 844,530
10. Poland 720,350
11. Sweden 660,920
12. Belgium 619,160
13. Ireland 550,520
14. Austria 520,340
15. Norway 458,400
16. Denmark 414,550
17. Romania 314,880
18. Finland 314,540
19. Czech Republic 302,060
20. Portugal 271,190

Additional information and clarifications

  • Turkey is officially located geographically in Europe.
  • Since last year the data for Andorra has been added, currently the 16th with the highest GDP per capita in Europe.

See Also: Top 20 Countries With The Best Educational System In The World

Conclusion

Europe is formed of many developed countries. It is the world’s sixth-largest continent by total land area, home to 47 countries, and accounts for 6.8 percent of the Earth’s surface area. Europe has contributed much to the invention, technology, and architecture. Over 500 years of progress in engineering, technology, literature, and medicine have resulted in the most developed continent on the planet. The nations of Europe have a fair Human Development Index (HDI).


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