Serbia is an upper middle income service economy in Central Europe, with a tertiary sector that contributes over 70% of GDP (GDP). In a free market economy, goods and services are exchanged between buyers and sellers without interference from the …
Belarus was a poor and underdeveloped country that relied mainly on agriculture and had an overpopulation problem in the countryside prior to the October Revolution. A fifth of Belarus’s people were killed, and the country’s infrastructure was obliterated, during World …
Ukraine is a developing, diverse economy in Eastern Europe. From 2000 until the start of the global financial crisis in 2008, when the recession hit Ukraine, it expanded fast. In 2010, the economy began to improve again, and that trend …
You may be curious to know the richest European countries, to start with, there are various rankings to rate the richest countries in Europe, but based on GDP per Capita, Monaco is the richest country in Europe and by the …
In terms of both social market and market orientation, the British economy is advanced. By nominal GDP, it is sixth; by PPP, it ranks ninth; and by GDP per capita, it ranks twenty-fifth; it accounts for 3.3% of global nominal …
High-tech, life sciences, financial services, and agribusiness (including agrifood) services make up the backbone of the Irish economy, which is a highly developed knowledge economy. Foreign direct investment (FDI) flows of high value put Ireland first, and the country’s open …
Developed export markets for lumber, hydropower, and iron ore have contributed to Sweden’s advanced economy. These are the backbone of a globally-oriented economy’s resources. Automobiles, telephones, pharmaceuticals, industrial machinery, precision equipment, chemical goods, home goods and appliances, forestry, iron, and …
Iceland has a small economy and is highly unstable. From a nominal GDP of $12 billion in 2011, it has more than doubled to $27 billion in 2018. Based on population estimates of 350,000, this equates to $55,000 in purchasing …
There is a heavy reliance on foreign commerce and government services as well as a high standard of living in Denmark’s modern mixed economy. The service sector accounts for 80% of all jobs while manufacturing accounts for 11% and agricultural …
The neutrality of Norway was abandoned in 1949 when it joined NATO as one of its original charter members. The country is now a member of the European Free Trade Association. In October 2021, a minority center-left coalition led by …