The most powerful economy in Europe, Germany boasts a GDP of $3.82 trillion and a per capita GDP of $44,741. In terms of the total value of all goods and services produced, EU gross domestic product (GDP) in 2019, when the UK was still part of the EU, was €16.4 trillion. The country is trying to build-up better financial relations with its neighboring small nations like Bosnia and Herzegovina, France, and other European economies. It is the second-largest economy in Europe (behind its main economic partner Germany). The Indian economy is expected to grow by 6.7 percent for the year 2017-18. In 2018, GDP saw growth on previous years and now sits at $51,936, By sector, this breaks down to 1.3% from agriculture, 28.4 % from … Countries by GDP Growth 2020. Located in central-western Europe, Germany is a well-developed nation with a high standard of living. 1 EUR= 1.11 USD. Answer Save. Source: International Monetary Fund World Economic Outlook (October-2019) Date: 24 Feb 2020: Top Statistics Coronavirus : 63,719,213 cases and 1,482,084 deaths. As of 2020, the following 15 countries or collectives have reached an economy of at least US$2 trillion by GDP in nominal or PPP terms: India, Brazil, France, Germany, China, Indonesia, Italy, Japan, South Korea, Mexico, Russia, Turkey, the United Kingdom, the United States and the … However, the external environment has become much less supportive and uncertainty is running high. List of European countries by GDP. By sector of origin, the services sector makes up about 71.2% of GDP. The World Economic Forum’s Global Competitiveness Report 2015-2016 named Switzerland as Europe’s – and the world’s – most competitive economy for the seventh consecutive year. Two North American countries are in nominal list and one in ppp list. The country’s most important industries include mining, industrial and transportation equipment, food processing, chemicals, and steel. Although the order on the list of the top countries with the strongest economy globally shifts from time to time, the key players on the list tend to be the same. Visitors hardly travel across Europe without stopping in Germany. 0 0. 11 Answers. You have 4 contenders here, if we want to consider Russian as a European country (mainly Asian looking at its territory): Germany France The UK Russia Germany has the largest economy and no public deficit. Are you looking for Telenor my app quiz answers? See Also: » European countries by GDP per capita » European Union countries by GDP » Asian … The economy of the European Union is the joint economy of the member states of the European Union (EU). Great Britain has the strongest economy within the EU. The currency used in Euro is known as the European Euro. Germany has one of the strongest economies in the world – but it's not because of Angela Merkel . Ireland has the highest rate of growth. Favourite answer. Four economically largest countries are located in Europe. Just open your Telenor my app and then open the menu “Test your skill” here you will find these questions. The nominal GDP of the top 10 economies adds up to about 66% of the world's gdp. the uk or germany. Germany’s economy has consistently had the largest economy in Europe since 1980, even before the reunification of West and East Germany. The country has an estimated $21.8 trillion in natural resources, which includes vast amounts of timber, uranium, gold, and iron. Switzerland. It is one of the largest exporters and has a very strong … France has the second largest economy in Europe, however, but has a medium-growing economy due to the European Economic Crisis. From 1980 until 2020, Europe's five largest economies have consistently been France, Germany, Italy, Spain and the United Kingdom. 1 0. mac. Germany is the fourth-largest economy in the world as well as the strongest Economy in Europe aside from being the largest in Europe. By his calculations, Japan's response has been among the most aggressive, with a spending package estimated at roughly 20% of the country's economy. The IMF sees U.S. GDP at 2% in 2020, and will decline further to 1.7% in 2021. Waves of Industrial Revolution in Western Europe and Northern America shifted the shares to the Western Hemisphere. Going back in history, according to Investopedia, since 1871 the number 1 on the list is occupied by the United States of America.Not much has changed ever since. The country that is spread across Europe and Asia has one of the strongest armies in the region. In the absence of reliable economic data, it would be foolish to even try to undertake a comparison. 1 decade ago. Reuters. Question: … Every time the country has been ravaged by war and internal conflict in the past, the economy has been able to recover. It is the second largest economy in the world in nominal terms, after the United States, and the third one in purchasing power parity (PPP) terms, after China and the United States. Answering these questions will help you to win Telenor Free Internet MBs. The economy of this country is transformed from socialist planned economy to a capitalist mixed economy. Labour markets remain strong and unemployment continues to fall. The country has emerged to be the world’s fastest economy according to the CSO and the IMF. Meanwhile, the industry sector is responsible for 25.3%, … US Coronavirus : 13,563,731 cases and 268,482 deaths . As a result, the European economy looks to be heading towards a protracted period of more subdued … The economy of a country is its backbone. However, since joining the EU, the country has developed its trading links with other member states, and simultaneously drawn a growing number of foreign investors attracted to its access to the single European market and its close ties to other growing EU economies. Africa has a pool of some of the fastest-growing economies in the world. The exporting sectors of industry play an especially important role in this. When supranational entities are included, the European Union is the second largest economy in the world. Private and Government play significant roles in the economy, and according to WTO, Indonesia was the 27 th biggest exporting country in the world. While Japan has never operated aircraft carriers since World War 2, it does have 4 helicopter carriers in its Navy. The country defends the airspace with 290 fighter jets and 84 attack helicopters. I daily upload answers to all Telenor questions so stay tuned. As per the estimation, Indonesia will be the 4 th strongest country in the economy by 2050. Brazil, however, has one of the most unequal economies in the world. Which country has the best economy by GDP in the EU. In Asia, there are three economies in nominal and four in ppp basis. I have answered all questions and won the quiz. By the end of 2018, the figure is expected to rise to 7.2 percent. … Over 64 % of EU countries' total trade is done with other countries in the bloc. From 2000 to 2012, Brazil was one of the fastest-growing major economies in the world. 9. Especially the automotive industries play an important role. The European economy is now in its seventh consecutive year of growth and is forecast to continue expanding in 2020 and 2021. Indonesia imports products to many major countries and has extensive natural resources. Trade. The manufacturing industry is among strong pillars. How big is the EU economy? Relevance. Which Country Has The Strongest Economy in Europe? The European Union's GDP was estimated to be $18.8 trillion (nominal) in 2018, representing about 22% of the global economy. The industry reported contractions of 2.4% and 1.8% in 2012 and 2013, but the economy has strengthened in the past few years. Turkey. Germany has the highest ratio of exports to GDP (Gross Domestic Product) and the third in the world. A good share of the German budget comes from tourism. wileyc23. Europe. Germany and the Netherlands complete the top three European economies. On PPP basis, top 10 share 61.06% of total. In the following paragraphs, the list based on the GDP growth of the countries all around … Now, Beck argues, German reunification is being used as the template for German crisis management in Europe. Countries by Area. It was the largest from 2004, when ten countries joined the union, to 2014, after which it … 7. READ: African Countries with the most Powerful Military Strength 2020. The German economy consistently ranks in the top 10, thanks to its extremely skilled and highly educated population. "We consider Turkey a strategic partner, not only for Hungary, but also for the EU, as Turkey is a country with the strongest economy in Europe's neighborhood," Szijjarto said. In 2017, 37.5 million visitors entered the country. Brazil is a developing free-market economy. The world’s seventh largest economy is expected to be among the three top economies in the next two decades. It is the official world currency in European countries. Finally, Australia is the world’s 10th strongest economy, according to per capita GDP, with an official value of USD 54,907.1 in 2019. Anonymous. However, the size of its GDP in terms of purchasing power parity is $4.17 trillion while its GDP per capita is $44,549.69. One of the strongest economies in the world has a very strong tourism industry as well. 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