Top 20 Richest Countries In Europe 2022 (Updated GDP)
Top 20 Richest Countries In Europe 2023 (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.
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.
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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.
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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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