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. Meanwhile, the industry sector is responsible for 25.3%, … In 2017, 37.5 million visitors entered the country. Brazil, however, has one of the most unequal economies in the world. List of European countries by GDP. Answer Save. Especially the automotive industries play an important role. France has the second largest economy in Europe, however, but has a medium-growing economy due to the European Economic Crisis. Four economically largest countries are located in Europe. While Japan has never operated aircraft carriers since World War 2, it does have 4 helicopter carriers in its Navy. Ireland has the highest rate of growth. Turkey. 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 … 7. The nominal GDP of the top 10 economies adds up to about 66% of the world's gdp. Europe. From 2000 to 2012, Brazil was one of the fastest-growing major economies in the world. 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 most powerful economy in Europe, Germany boasts a GDP of $3.82 trillion and a per capita GDP of $44,741. The country that is spread across Europe and Asia has one of the strongest armies in the region. In the following paragraphs, the list based on the GDP growth of the countries all around … Switzerland is one of the richest countries in the world with a very stable economy. However, the external environment has become much less supportive and uncertainty is running high. Every time the country has been ravaged by war and internal conflict in the past, the economy has been able to recover. Private and Government play significant roles in the economy, and according to WTO, Indonesia was the 27 th biggest exporting country in the world. By the end of 2018, the figure is expected to rise to 7.2 percent. The Indian economy is expected to grow by 6.7 percent for the year 2017-18. 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. Favourite answer. Waves of Industrial Revolution in Western Europe and Northern America shifted the shares to the Western Hemisphere. Switzerland. In Asia, there are three economies in nominal and four in ppp basis. the uk or germany. As per the estimation, Indonesia will be the 4 th strongest country in the economy by 2050. I have answered all questions and won the quiz. 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. It is the second-largest economy in Europe (behind its main economic partner Germany). 9. 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. A good share of the German budget comes from tourism. US Coronavirus : 13,563,731 cases and 268,482 deaths . Located in central-western Europe, Germany is a well-developed nation with a high standard of living. The economy of the European Union is the joint economy of the member states of the European Union (EU). The economy of this country is transformed from socialist planned economy to a capitalist mixed economy. 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 … The exporting sectors of industry play an especially important role in this. "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. Germany has the highest ratio of exports to GDP (Gross Domestic Product) and the third in the world. Indonesia imports products to many major countries and has extensive natural resources. Which country has the strongest economy in Europe? The German economy consistently ranks in the top 10, thanks to its extremely skilled and highly educated population. READ: African Countries with the most Powerful Military Strength 2020. The country has an estimated $21.8 trillion in natural resources, which includes vast amounts of timber, uranium, gold, and iron. Which country has the best economy by GDP in the EU. Relevance. Question: … The country defends the airspace with 290 fighter jets and 84 attack helicopters. Anonymous. 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. The currency used in Euro is known as the European Euro. From 1980 until 2020, Europe's five largest economies have consistently been France, Germany, Italy, Spain and the United Kingdom. 11 Answers. The industry reported contractions of 2.4% and 1.8% in 2012 and 2013, but the economy has strengthened in the past few years. 1 EUR= 1.11 USD. Also, it is the most powerful economy in the eurozone. Brazil is a developing free-market economy. 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. Labour markets remain strong and unemployment continues to fall. 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. 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. One of the strongest economies in the world has a very strong tourism industry as well. The country’s most important industries include mining, industrial and transportation equipment, food processing, chemicals, and steel. Are you looking for Telenor my app quiz answers? Germany’s economy has consistently had the largest economy in Europe since 1980, even before the reunification of West and East Germany. By sector of origin, the services sector makes up about 71.2% of GDP. The country is trying to build-up better financial relations with its neighboring small nations like Bosnia and Herzegovina, France, and other European economies. The European Union's GDP was estimated to be $18.8 trillion (nominal) in 2018, representing about 22% of the global economy. 8. 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. … Trade. The manufacturing industry is among strong pillars. On PPP basis, top 10 share 61.06% of total. The country has a $3.68 trillion GDP. The economy of a country is its backbone. Germany and the Netherlands complete the top three European economies. As a result, the European economy looks to be heading towards a protracted period of more subdued … Countries by GDP Growth 2020. Which Country Has The Strongest Economy in Europe? 0 0. It is the official world currency in European countries. Great Britain has the strongest economy within the EU. 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. Germany has one of the strongest economies in the world – but it's not because of Angela Merkel . Countries are sorted by nominal GDP estimates from financial and statistical institutions, ... India has also experienced a similar economic boom since the implementation of economic liberalisation in the early 1990s. wileyc23. Visitors hardly travel across Europe without stopping in Germany. It is one of the largest exporters and has a very strong … The IMF sees U.S. GDP at 2% in 2020, and will decline further to 1.7% in 2021. When supranational entities are included, the European Union is the second largest economy in the world. It was the largest from 2004, when ten countries joined the union, to 2014, after which it … Answering these questions will help you to win Telenor Free Internet MBs. The country has emerged to be the world’s fastest economy according to the CSO and the IMF. I daily upload answers to all Telenor questions so stay tuned. The European economy is now in its seventh consecutive year of growth and is forecast to continue expanding in 2020 and 2021. Just open your Telenor my app and then open the menu “Test your skill” here you will find these questions. The world’s seventh largest economy is expected to be among the three top economies in the next two decades. In the absence of reliable economic data, it would be foolish to even try to undertake a comparison. Germany has a mixed economy and It allows a free market economy in consumer goods and business services. 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