Saturday, December 22nd, 2018
European countries still play a dominant role in the overall rankings in the Global Competitiveness Index. Are you a merchant interested in top European economies? Maybe you want to obtain the best merchant account in the UK? No problem at all! Just read below and you’ll know.
World Economy: European Economy
As of 2017, the European continent included 48 countries. The total population in these countries made up over 731 million people. Moreover, some of the biggest economies in the world are found in Europe.
Let’s first look at the world economy or global economy. This is the economy of the world, and is regarded as the international exchange of goods/services that’s expressed in monetary units of account. By the way, the European Union (EU) includes 28 European states, which account for 30% of the world’s GDP.
There’re also smaller blocs such as the European Economic Area (EEA) and the European Free Trade Association (EFTA), which are comprised of non-EU countries, e.g., Albania, Armenia, Iceland, Liechtenstein, Norway, and Switzerland.
When it comes to the economy of Europe, over 740 million people in 50 different countries are included in the European economy. European countries have a long history of trade. The previous century’s free market system and high level of development were generally found in the north and west of the continent.
Top European Economies: Best Merchant Account in the UK
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Business Chief Europe, using data from the World Bank, examines the European countries’ gross domestic product (GDP) and explores their major industries. As of 2107, the overall image was the following:
1. Germany (a GDP of $3.67trn)
2. United Kingdom (a GDP of $2.62trn)
3. France(a GDP of $2.57trn)
4. Italy (a GDP of $1.93trn)
5. Spain (a GDP of $1.3trn)
6. Netherlands (a GDP of $826.2bn)
7. Switzerland (a GDP of $678.8bn)
8. Sweden (a GDP of US$493.68bn)
9. Poland (a GDP of $524bn)
10. Belgium (a GDP of US$493.68bn)
According to NIESR calculations, the big rebound in Europe and the world economy has played a crucial role in the growth of Britain’s economy. Without it, Britain’s economy would have grown about 1.2% percent in 2017, but the country managed to grow 1.7%, which itself was the slowest increase since 2012.
Topics discussed in this article:
- best merchant account