Belarus Economic system - Belarus had a relatively well developed industrial base; it retained this industrial base following the breakup of the USSR. The country also has a broad agricultural base and a high education level. HDI ranking - index 0.798- rank 50- GDP- 26.2% of GDP (2015 est.), 28.7% of GDP (2014 est.) , 28.9% of GDP (2013 est.) Per capita income -$17,700 (2015 est.) , $18,400 (2014 est.) , $18,100 (2013 est.) Level of development - Most developed country Economic activity and percentages- household consumption: 50.3%, government consumption: 14.9% , investment in fixed capital: 28.6% , investment in inventories: 6% Major imports and exports -exports of goods and services: 60% , imports of goods and services: -59.8% (2015 est.)
2.Bulgaria Economic system - The economy of Bulgaria functions on the principles of the free market, having a large private sector and a smaller public one. Bulgaria is an industrialised upper-middle-income country according to the World Bank. HDI ranking - index 0.782- rank 59- GDP -22.7% of GDP (2015 est.) , 22.3% of GDP (2014 est.) , 22.7% of GDP (2013 est.) Per capita income -$19,100 (2015 est.) , $18,500 (2014 est.) , $18,100 (2013 est.) Level of development - Newly industrialized country Economic activity and percentages-household consumption: 60.9% , government consumption: 16.3% , investment in fixed capital: 21.2% , investment in inventories: 0.2% Major imports and exports - Exports - Germany 12.5%, Italy 9.2%, Turkey 8.5%, Romania 8.2%, Greece 6.5%, France 4.2% (2015) - Imports - Germany 12.9%, Russia 12%, Italy 7.6%, Romania 6.8%, Turkey 5.7%, Greece 4.8%, Spain 4.8% (2015)
3. Czech Republic (or Czechia) Economic system - The Czech Republic is a stable and prosperous market economy closely integrated with the EU, especially since the country's EU accession in 2004. The auto industry is the largest single industry, and, together with its upstream suppliers, accounts for nearly 24% of Czech manufacturing. HDI ranking - index 0.87 - rank 28 GDP -28.2% of GDP (2015 est.) , 25.9% of GDP (2014 est.) , 24% of GDP (2013 est.) Per capita income -$31,600 (2015 est.) , $30,300 (2014 est.) , $29,700 (2013 est.) Level of development - More developed country Economic activity and percentages-household consumption: 47% , government consumption: 19.5% , investment in fixed capital: 26.3% , investment in inventories: 1% Major imports and exports - Exports - Germany 32.4%, Slovakia 9%, Poland 5.8%, UK 5.3%, France 5.1%, Austria 4.1% (2015) - Imports - Germany 30%, Poland 9%, China 8.3%, Slovakia 6.6%, Netherlands 5%, Austria 4.1% (2015)
4. Hungary Economic system - The economy of Hungary is a medium-sized, high-income, structurally, politically and institutionally open economy in Central Europe, and is part of the European Union's (EU) single market. HDI ranking - index 0.828- rank 44 GDP -26.1% of GDP (2015 est.) , 24.2% of GDP (2014 est.) ,24.6% of GDP (2013 est.) Per capita income -$26,200 (2015 est.) , $25,400 (2014 est.) , $24,400 (2013 est.) Level of development - Less developed country Economic activity and percentages-household consumption: 49.5% , government consumption: 19.9% , investment in fixed capital: 21.3% , investment in inventories: 0.6% Major imports and exports - Exports - Germany 28%, Romania 5.4%, Slovakia 5.1%, Austria 5%, Italy 4.8%, France 4.7%, UK 4%, Czech Republic 4% (2015) - Imports- Germany 25.8%, China 6.7%, Austria 6.6%, Poland 5.5%, Slovakia 5.3%, France 5%, Czech Republic 4.8%, Netherlands 4.6%, Italy 4.5% (2015)
5. Poland Economic system - The country of Poland uses a 'market' economic system and represents the sixth-largest economy in Europe. Countries are generally categorized into one of four economic systems: traditional, command, market or mixed. HDI ranking - index - 0.843 - rank - 36 GDP -20.3% of GDP (2015 est.) , 18.3% of GDP (2014 est.) , 17.7% of GDP (2013 est.) Per capita income -$26,500 (2015 est.) , $25,500 (2014 est.) , $24,700 (2013 est.) Level of development - Less developed country Economic activity and percentages-household consumption: 58.7% , government consumption: 18% , investment in fixed capital: 20.1% , investment in inventories: 0.4% Major imports and exports - Exports - Germany 27.1%, UK 6.8%, Czech Republic 6.6%, France 5.5%, Italy 4.8%, Netherlands 4.4% (2015) - Imports - Germany 27.6%, China 7.5%, Russia 7.2%, Netherlands 5.9%, Italy 5.2%, France 4.1% (2015)
6.Moldova Economic System: Market HDI ranking: 39 (Europe) 100 (World) GDP: 6.55 Per Capita Income: 1971.05 Level of Development: NIC Levels of economic activities: household consumption: 89.7% government consumption: 20.7% investment in fixed capital: 23.6% investment in inventories: 1.3% exports of goods and services: 43.2% imports of goods and services: -78.5% Major imports: Petroleum, natural gas, textile yarn, pharmaceutical products, electrical machinery and road vehicles. Major exports: Vegetables and fruit, beverages, electrical machinery, oil seeds and cereals
7. Romania: Economic System: Market HDI ranking: 30 (Europe) 49 ( world) GDP: 177.95 Per Capita Income: 9526.59 Level of Development: NIC Levels of economic activities: household consumption: 67.9% government consumption: 7% investment in fixed capital: 24.7% investment in inventories: 0.9% exports of goods and services: 41.1% imports of goods and services: -41.6% Major imports: Transport equipment, raw materials, chemicals and fuels. Major exports: Machinery and transport equipment, raw materials, and miscellaneous manufactured articles like textiles and footwear.
8.Russia: Economic System: Mixed HDI ranking: 0.798 GDP:1326.02 Per Capita Income: 11038.82 Level of Development:NIC Levels of economic activities:household consumption: 54.1% government consumption: 19.1% investment in fixed capital: 21.7% investment in inventories: -3.4% exports of goods and services: 29.8% imports of goods and services: -21.2% Major imports: Machinery, equipment and transport (45 percent of total imports), chemical products (19 percent) and foodstuffs and agricultural products (14.5 percent) Major exports: Fuels and energy products (63 percent of total shipments, of which crude oil and natural gas accounted for 26 percent and 12 percent respectively); metals (10 percent); machinery and equipment (7.4 percent); chemical products (7.4 percent) and foodstuffs and agricultural products (5 percent)
9. Slovakia: Economic System: Market HDI ranking: 0.844 GDP: 86.58 Per Capita Income: 18507.83 Level of Development:NIC Levels of economic activities:household consumption: 56% government consumption: 19% investment in fixed capital: 23% investment in inventories: -0.4% exports of goods and services: 93.8% imports of goods and services: -91.4% Major imports:Machinery and transport equipment, intermediate manufactured goods, fuels and chemicals. Major exports: Vehicles, machinery and electrical equipment, base metals and chemicals and minerals
10. Ukraine: Economic System: Market HDI ranking: 37 (Europe) 70 ( World) GDP:90.62 Per Capita Income: 2824.44 Level of Development: NIC Levels of economic activities: household consumption: 67.6% government consumption: 19% investment in fixed capital: 13.3% investment in inventories: 2% exports of goods and services: 52.8% imports of goods and services: -54.8% Major imports: Oil and natural gas, and equipment, chemicals. Major exports: Mainly steel, coal, fuel and petroleum products, chemicals, machinery and transport equipment and grains like barley, corn and wheat.
Summary - The economy of Europe comprises more than 731 million people in 48 different countries. The difference in wealth across Europe can be seen roughly in former Cold War divide, with some countries breaching the divide.Some European economies, despite their position over the world's average are still catching up with European leading countries.Europe in 2010 had a nominal GDP of $19.920 trillion.Many developed European countries were quick to develop economic ties with fellow European states, where democracy was reintroduced.
The European Union has had a major impact on Eastern Europe, in a good way. Recently, it has been known to have an “enlargement” to Eastern Europe and in all of Europe in general. It has had an effect of “re-unification of the European continent. To express the benefit of the European Union on Eastern Europe, a quote from the European Council President Herman Van Rompuy claimed that “finally Europe had become ‘Europe’ again.” It has had an impact of enlargement on democracy in new members and candidate countries. Although pushing the success in the majority of Europe, in Eastern Europe, Hungary, the European Union has had a failure to success. In Romania on the other hand, the European Union has been thriving.