Talking solely about the European countries leads to pondering on the attributes associated with these countries. Thinking out of the box has welcomes many areas by which we can rank top ten powerful European countries. This article is exploring the Top Ten Powerful European countries according to a powerful economy.
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List of Top Ten Powerful European Countries
Given below is a complete list of Top 10 Powerful European countries in the world
France is located in the Western side of Europe. Owing to its shape of the area it has covered, it is often referred as “Hexagon”. The population is approaching 67 million. During 19 and 20 century, it has become dominant globally. Its great powers lie with several industries like cultural, political, military and economic. Hence, it is one of the wealthiest nations within Europe.
It is the active member of “Organization for Economic Co-operation and Development| and “World Trade Organization”.
Moving towards the economy, it grows in the mixed economy of private enterprise, government and state enterprises. The fields of railway, infrastructure, nuclear power, aircraft, telecommunication and electricity are influenced by the government. The insurance sector, banking sector and financial services are considered to be the significant segments of the France economy. Its companies have retained its position in the banking and insurance industries. Historically, France was a large manufacturer of agricultural products. It is due to the application of leading technologies that made it capture the substantial place in the industry.
2. United Kingdom
As concerned to its economy, UK is the world\s largest industrialized country. Its powers are eminent in science, military, culture, economy and at international level. It has fallen behind the France for the first time in the history. It is dealing with the currency of UK £.
Its service sector builds 73% of GDP. Its creative industries are kept on growing at an average of 6% annually. Its industry revolution was started with the textile venture that led to the construction of steel making, coal mining and ship building. Its automotive, transport, energy and air industry is as its peak with fewer turnovers, high employments and increased exports.
Fully pronounced as the Federal Republic of Germany, it is placed in the Western Central Europe covering the area of 357, 021 square kilometers with 80.6 inhabitants. In Europe, Germany possesses the major political as well as economic power. It has been a major historic leader in the areas of cultural, technical and theoretical fields.
By nominal GDP, it has ranked on the third in the economy list. It offers the high standard of living, social security and technological advances. It is operating with social market economy comprising of highly skilled labor and high innovation status backed by low corruption level. The services sector contributes 71% of GDP; industry contributes 28% and 1% of agriculture. The unemployment rate has decreased to 5.3%.
Its economy growth can be detected with the fact that within 500 largest stock market companies that are listed in Fortune Global, 37 are operating in the Germany. Hence, making the economy strong while dealing in Euro currency.
Italian Republic is situated in Southern Europe, spreading on the area of 301, 338 square kilometers having 61 million folks. Consisting of high per capita GDP, Italy is operating in the market economy with low unemployment rates. The economy is transferring rapidly from agricultural towards industrial. The perception of a strongest economy can be apprehended with the reality of global economic crisis held recently. Despite of crisis, Italy sustained its growth on above EU average.
It is performing in innovative business sectors making the economy competitive. Its economy is well recognized for its industrious sectors including automobiles, fashion design and appliances. It has done partnerships with France, Spain and Germany with the ratio of 11.4%, 7.4% and 12.9% respectively.
Russian Federation is covering the area of 17, 075, 400 square kilometers with 143 million masses. This country has a developed economy with numerous resources, specifically natural and oil gas. The salary is estimated to be $967 per month. The nominal wages per month have reached 30, 000. However, the unemployment rate is 5.4%.
Russia exports 80% natural resources abroad. These resources contribute to 5.7% of GDP. Certain problems encountered by this country are uneven development, modernization of infrastructure due to the neglected government. In 2011, it joined WTO that brought high ups to this industry amounted to 3% annually. In 2013, the ruble started to decline but in 2014 central bank took over the situation to strengthen the currency of Russia.
In Northern Europe, Kingdom of Sweden is located in 450, 295 kilometer square having population of 9.7 million. The citizens are enjoying high living standard and richest GDP. It is an export-oriented economy. The basic resources of this country are iron, hydro-power and timber. They are emphasizing their interest in foreign trade. The industries of automotive, telecommunication and pharmaceutical show great importance for the economy.
The Swedish economy is attributed with knowledge extensive, large and export-oriented manufacturing sector with small business service sector and a large public service sector. The dominant areas of this economy are large manufacturing as well as services organizations with the state of the art technology contributing 9.9% of GDP.
South Western Europe is meant for Spain to be situated in 505, 992 square kilometer areas. Spanish economy began to rise since 1997. The economy has a big role in generating half of all the new jobs of entire Europe. Later because of the crisis, the unemployment reached 18.7% in 2009.
The Republic of Austria is the country of Europe having coverage of 83,855 square kilometers. In terms of GDP, it is very rich country. The introduction of privatization has assisted to reduce the government hard influence. Labor movements and international tourism are the significant areas of the national economy. Austrian companies are performing actively in pursuing of making the economy strong.
Hellenic Republic, Greece, constitutes the population of about 11 million. Having developed, its economy constitutes 12% industry and 85% service sector. This contributes 3% of the economic output. The pre-eminent industries are tourism, and merchant shipping. It is also producing agricultural products. Hence, it serves as the largest economy with Balkan. It is now categorized in the list of high income and advanced one.
Its economy has some specialized features like in this country; the health care is free, and the parents are offered with 46 weeks paid parental leave. The industrial sectors are petroleum, hydroelectric energy, aluminum production, Norwegian Bank and telecommunication. The abundant natural resources in the county are petroleum, natural gas, fish, minerals, forests and hydro power. These all contributes well to provide a boom to the economy. In future, it is identified to be the richest economy in the years to come.