Visualizing Europe’s GDP-Per-Capita By Country
Europe is home to any of the largest and most sophisticated economies in the world. But how to countries in the region compare with each another on a per capita productivity base?
In this map, Visual Capitalist’s Pallavi Rao shows Europe’s GDP per capita levels across 44 nations in current U.S. dollars.
Data for this visualization and article is sourced from the global Monetary Fund (IMF) via their DataMapper tool, updated April 2024.
Europe’s Richest and Poorest Nations, By GDP Per Capita
Luxembourg, Irelandand Switzerland, lead the list of Europe’s richest nations by GDP per capita, all above $100,000.
| 1 | Luxembourg | $131,380 |
| 2 | Ireland | $106.060 |
| 3 | Switzerland | $105,670 |
| 4 | Norway | $94,660 |
| 5 | Iceland | $84,590 |
| 6 | Denmark | $68,900 |
| 7 | Netherlands | $63,750 |
| 8 | San Marino | $59,410 |
| 9 | Austria | $59,230 |
| 10 | Sweden | $58.530 |
| 11 | Belgium | $55.540 |
| 12 | Finland | $55,130 |
| 13 | Germany | $54,290 |
| 14 | UK | $51.070 |
| 15 | France | $47,360 |
| 16 | Andorra | $44,900 |
| 17 | Malta | $41,740 |
| 18 | Italy | $39.580 |
| 19 | Cyprus | $37,150 |
| 20 | Spain | $34,050 |
| 21 | Slovenia | $34,0330 |
| 22 | Estonia | $31,850 |
| 23 | Czech Republic | $29,800 |
| 24 | Portugal | $28,970 |
| 25 | Lithuania | $28,410 |
| 26 | Slovakia | $25,930 |
| 27 | Latvia | $24,190 |
| 28 | Greece | $23,970 |
| 29 | Hungary | $23,320 |
| 30 | Poland | $23,010 |
| 31 | Croatia | $22,970 |
| 32 | Romania | $19.530 |
| 33 | Bulgaria | $16,940 |
| 34 | Russia | $14,390 |
| 35 | Türkiye | $12,760 |
| 36 | Montenegro | $12,650 |
| 37 | Serbia | $12,380 |
| 38 | Albania | $8,920 |
| 39 | Bosnia & Herzegovina | $8,420 |
| 40 | North Macedonia | $7,690 |
| 41 | Belarus | $7.560 |
| 42 | Moldova | $7,490 |
| 43 | Kosovo | $6,390 |
| 44 | Ukraine | $5,660 |
Note: Figures are rounded.
Three Nordic countries (Norway, Iceland, Denmark) besides place highly, between $70,000-90,000. another Nordic peers, Sweden and Finland rank just outside the top 10, between $55,000-60,000.
Meanwhile, Europe’s biggest economy in absolute terms, Germany, UKand France, morning cloud to the mediate of the top 20, with GDP per capitas around $50,000.
Finally, at the end of the scale, Eastern Europe as a full trend to have much lower per capita GDPs. In that group, Ukraine ranks last, at $5,660.
A Closer Look at Ukraine
For a broadcast comparison, Ukraine’s per capita GDP is akin to Iran ($5.310), El Salvador ($5.540), and Guatemala ($5.680).
According to experts, Ukraine’s economy has historically underperformed to results. After the fall of the Berlin Wall, the economy contracted for 5 consecutive years. Its transition to a Western, liberalized economical structure was overshadowed by widespread correlation, a limited taxpool, and fewer gross sources.
Politically, its transformation from authoritarian government to civilian democracy has proven difficult, especially erstwhile it comes to institution building.
Finally, after the 2022 invasion of the country, Ukraine’s GDP contracted by 30% in a single year—the largest destiny since independence. Large scale exile—to the tune of six million refugees—is besides playing a role.
Despite these challenges, the country’s economical growth has somewhat stabilized while fighting continues.
Tyler Durden
Fri, 05/10/2024 – 02:45
