Financial_and_social_rankings_of_sovereign_states_in_Europe

Financial and social rankings of sovereign states in Europe

Financial and social rankings of sovereign states in Europe

Overview of financial and social rankings of the sovereign states in Europe


This page compares the sovereign states of Europe on economic, financial and social indicators.

Map of Europe according to the United Nations geoscheme for Europe

Definition of Europe

For the purposes of comparison the broader definition of Europe will be used. A sovereign state must meet at least one of the following criteria to be included:

Economic

Countries by GDP (nominal)

Volkswagen AG's headquarters in Wolfsburg is the base for Germany's largest company by revenue.
London is considered to be the leading financial capital in Europe.
European countries by share of total Europe's nominal GDP

Data provided is by the International Monetary Fund (2021)[1]

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GDP growth rate

Azerbaijan is among the fastest growing economies in Europe, in part due to the country's growing energy sector.
The economy of Cyprus continues to struggle as a result of the ongoing Eurozone crisis and the resulting Cypriot financial crisis.

The real GDP growth rates provided are the 2015 estimates (unless otherwise indicated) as recorded in the CIA World Factbook.[2]

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GDP (nominal) per capita of sovereign states in Europe

Data provided is by the World Bank (2021). Data for Monaco and Liechtenstein is from 2020 and 2019 respectively.[3]

Monaco is home to one of the world's wealthiest populations, and has the highest level of GDP per capita in Europe.
Like Monaco, the small size of Liechtenstein has led to it being among the highest ranked European states for GDP per capita.
Luxembourg is home to an established financial sector as well as one of Europe's richest populations.
Despite having the highest GDP growth rate in Europe, Moldova is among its poorest states, and also has Europe's smallest GDP per capita.
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GDP purchasing power parity (PPP)

Madrid is the financial capital of Spain, and one of the most important financial centres in Europe.

Data provided is by the International Monetary Fund (2018)[4]

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Net national wealth

European countries by total wealth

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Financial

Current account balance

The current account balance values provided are the 2013 figures (unless otherwise indicated) as recorded in the CIA World Factbook.[6] Figures for Andorra, Liechtenstein, Monaco and San Marino are unavailable.

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Public debt

The public debt values provided are the 2013 figures (unless otherwise indicated) as recorded in the CIA World Factbook.[7] Figures for Liechtenstein and Monaco are unavailable.

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Unemployment rate

The unemployment rate values provided are the most recent figures provided by varying sources, namely data released by governments.

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Average wage

The average wage values provided are 2018 figures (unless otherwise stated) as recorded by varying sources, namely releases by respective Governments. The values are for monthly average wage (annual wage divided by 12 months) for net income (after taxes) in Euro currency.

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Minimum wage

The minimum wage figures provided are the 2018 figures by The Federation of International Employers. Currency conversions from non-Euro currencies being based on the exchange rates of 2018.[8]

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Social

Human Development Index

The Human Development Index values provided are the 2018 estimates for 2017, as included in the United Nations Development Programme's Human Development Report.[9]

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Percentage living below poverty line

The percentage figures for citizens living below the poverty line are provided by either the CIA World Factbook (2007) or the World Bank (2012) [10][11][12] There is no data available for eleven European states.

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Social Progress Index

The Social Progress Index figures are provided by the nonprofit Social Progress Imperative and represent 2014. Eight European states are not represented as data is not available.[13]

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Opportunity

The Opportunity figures are included in the 2014 Social Progress Index by the nonprofit Social Progress Imperative. Eight European states are not represented as data is not available.[13]

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World Happiness Report

The World Happiness Report is a measure of happiness published by the United Nations Sustainable Development Solutions Network, with the figures provided being the 2013 edition for the 2010 to 2012 period.[14]

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Summary

Economic

  •  Azerbaijan is the second fastest growing economy in Europe, and the fastest growing transcontinental economy.
  •  Cyprus is the weakest growing economy in Europe, the European Union, the eurozone and the European members of the Commonwealth of Nations.
  •  France has the highest Net National Wealth of any European state.
  •  Germany is the current largest economy in Europe, the European Union and the Eurozone, with Germany remaining the eurozone's largest economy.
  •  Latvia is the fastest growing economy in both the eurozone and the European Union.
  •  Luxembourg is home to the highest GDP (nominal) per capita in both the European Union and eurozone.
  •  Malta is the smallest economy in the eurozone as well as the European Union, and is the fastest growing European economy in the Commonwealth of Nations.
  •  Moldova is the fastest growing economy in Europe, but is also one of Europe's poorest countries, with the lowest GDP (nominal) per capita of any European state.
  •  Monaco has the highest GDP (nominal) per capita of any European state.
  •  Russia is the largest transcontinental European economy and will remain so until at least 2030.
  •  San Marino is Europe's smallest economy, and is also the third weakest growing economy in Europe.
  •  United Kingdom is the largest non-eurozone economy in Europe.

Financial

  •  Austria has the lowest unemployment rate in the European Union and the eurozone.
  •  Belarus has the lowest unemployment rate in Europe, although this figure includes underemployment.
  •  Bulgaria has the smallest average wage and monthly minimum wage in the European Union.
  •  Estonia has the smallest public debt (as a percentage of GDP) of any state in Europe, as well as in the European Union and eurozone.
  •  France has the largest financial deficit of any state in the eurozone.
  •  Georgia has the lowest monthly minimum wage in Europe.
  •  Germany has the largest financial surplus of any country in Europe as well as the remainder of the world.
  •  Greece has the highest public debt (as a percentage of GDP) of any European state, as well as having the largest unemployment rate in the European Union and eurozone.
  •  North Macedonia has the highest unemployment rate of any European state.
  •  Liechtenstein has the highest average wage of any state in Europe.
  •  Lithuania has the smallest average wage and monthly minimum wage in the eurozone.
  •  Luxembourg has the highest average wage in the European Union and eurozone as well as the highest monthly minimum wage in the entirety of Europe.
  •  Russia has the largest surplus of those European countries not a member of either (or both) the EU or eurozone.
  •  Ukraine has the smallest average wage in Europe, mostly as a result of the ongoing war.
  •  United Kingdom has the largest deficit of any country in Europe and the European Union.

Social

  •  Albania has the largest percentage living under the poverty line of any state in Europe.
  •  Armenia has the highest Change in Happiness of any state in Europe.
  •  Azerbaijan has the smallest rating for Opportunity in Europe.
  •  Croatia has the smallest rating for Opportunity in the European Union.
  •  Denmark ranks highest on the World Happiness Report in Europe and the European Union.
  •  Greece has the largest percentage living under the poverty line in the eurozone, and is also ranked last on the Social Progress Index among eurozone members, including for Opportunity.
  •  Ireland has the highest rating for Opportunity in Europe, the European Union and the eurozone.
  •  Latvia has the weakest Human Development Index and World Happiness Index figures in the eurozone.
  •  Lithuania has the smallest percentage living below the poverty line in Europe.
  •  Moldova ranks lowest on the Human Development Index and Social Progress Index in Europe.
  •  Netherlands has highest Human Development Index figure in the European Union and the eurozone, and also ranks first in the EU and eurozone on the Social Progress Index, as well as being the highest ranked country in the eurozone on the World Happiness Index.
  •  San Marino has the highest Human Development Index figure in Europe.
  •   Switzerland ranks highest in Europe on the Social Progress Index.

Notes

  1. As data by the IMF is unavailable, the latest available data by the CIA World Factbook is used.
  2. Data for Belarusian unemployment does not take into account underemployment.
  3. Data for Austrian unemployment includes only those who were previously employed.

References

  1. "World Economic Outlook (October 2020)". Imf.org. Retrieved 4 November 2020.
  2. "GDP - Real Growth Rate, 2013". Archived from the original on 13 June 2007.
  3. World Bank, 2021
  4. International Monetary Fund, World Economic Outlook Database, October 2019
  5. Global wealth databook 2018 (PDF). Credit Suisse. 2018. pp. 19–22. Archived (PDF) from the original on 21 October 2021. Retrieved 22 October 2021. (from List of all Global wealth reports and Global wealth databooks - Credit Suisse (Archived 2021-10-21 at the Wayback Machine))
  6. "World Databank". Databank.worldbank.org. Retrieved 17 November 2012.
  7. "Social Progress Index: Measuring National Progress". Social Progress Imperitive. Archived from the original on 17 December 2015. Retrieved 2 August 2013.
  8. Helliwell, John; Layard, Richard; Sachs, Jeffrey (9 September 2013). "World Happiness Report 2013". United Nations Sustainable Development Solutions Network. Archived from the original (PDF) on 4 June 2011. Retrieved 29 June 2014. {{cite journal}}: Cite journal requires |journal= (help)

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