$12.669 billion (nominal, 2018)
21.5% (2015)
$8.79 billion (31 December 2017 est.)
Economy of Armenia
The economy of Armenia grew by 7.5% in 2017 and reached a nominal GDP of $11.537 billion per annum, while per capita GDP grew by 10.1% and reached $3,880.
Economy of Bosnia and Herzegovina
This page discusses the economy of Bosnia and Herzegovina since Bosnia and Herzegovina's declaration of sovereignty in October 1991 and the declaration of independence from the former Yugoslavia on 3 March 1992.
Economy of Croatia
The economy of Croatia is a developed high-income service based economy with the tertiary sector accounting for 60% of total gross domestic product (GDP). After the collapse of socialism, Croatia went through a process of transition to a market-based economy in the 1990s, but its economy suffered badly during the Croatian War of Independence. After the war the economy began to improve, before the financial crisis of 2007–08 the Croatian economy grew at 4-5% annually, incomes doubled, and economic and social opportunities dramatically improved.
Economy of the Czech Republic
The Economy of the Czech Republic is a developed export-oriented social market economy based in services, manufacturing and innovation, that maintains a high-income welfare state and the "continental" type of the European social model. The Czech Republic participates in the European Single Market as a member of the European Union, and is therefore a part of the economy of the European Union, but uses its own currency, the Czech koruna, instead of the euro. It is a member of the OECD. The Czech Republic ranks 15th in inequality-adjusted human development and 14th in World Bank Human Capital Index ahead of countries such as the United States, the United Kingdom or France. It was described by The Guardian as "one of Europe’s most flourishing economies".
Economy of Estonia
The Estonian economy is an advanced economy and a member of the European Union and of the eurozone. The Estonian economy is heavily influenced by developments in the Finnish and Swedish economies.
Economy of Latvia
The economy of Latvia is an open economy in Northern Europe and is part of the European Union's (EU) single market. Latvia is a member of the World Trade Organization (WTO) since 1999, a member of the European Union since 2004, a member of the Eurozone since 2014 and a member of the OECD since 2016. Latvia is ranked the 14th in the world by the Ease of Doing Business Index prepared by the World Bank Group, According to the Human Development Report 2011, Latvia belongs to the group of very high human development countries. Due to its geographical location, transit services are highly developed, along with timber and wood-processing, agriculture and food products, and manufacturing of machinery and electronic devices.
Economy of Nicaragua
Nicaragua's economy is focused primarily on the agricultural sector. It is the least developed country in Central America, and the second poorest in the Americas by nominal GDP. In recent years, under the administrations of Daniel Ortega, the Nicaraguan economy has expanded somewhat, following the global recession of 2009, when the country's economy actually contracted by 1.5%, due to decreased export demand in the US and Central American markets, lower commodity prices for key agricultural exports, and low remittance growth. The economy saw 4.5% growth in 2010 thanks to a recovery in export demand and growth in its tourism industry. Nicaragua's economy continues to post growth, with preliminary indicators showing the Nicaraguan economy growing an additional 5% in 2011. Consumer Price inflation have also curtailed since 2008, when Nicaragua's inflation rate hovered at 19.82%. In 2009 and 2010, the country posted lower inflation rates, 3.68% and 5.45%, respectively. Remittances are a major source of income, equivalent to 15% of the country's GDP, which originate primarily from Costa Rica, the United States, and European Union member states. Approximately one million Nicaraguans contribute to the remittance sector of the economy.
Economy of Poland
The economy of Poland is the eighth largest economy in the European Union and the largest among the former Eastern Bloc members of the European Union. Since 1990 Poland has pursued a policy of economic liberalization and its economy was the only one in the EU to avoid a recession through the 2007-2008 economic downturn. In all, as of 2017 the Polish economy has been growing steadily for the past 26 years, a record high in the EU. Such growth has been exponential, with GDP per capita at purchasing power parity growing on average by 6% p.a. over the last 20 years, the most impressive performance in Central Europe resulting in the country doubling its GDP since 1990.
Economy of Romania
Romania is a fast developing, high income mixed economy with a very high Human Development Index and a skilled labour force, ranked 10th in the European Union by total nominal GDP and 8th largest when adjusted by purchasing power parity.
Economy of Slovakia
The economy of Slovakia is based upon Slovakia becoming an EU member state in 2004, and adopting the euro at the beginning of 2009. Its capital, Bratislava, is the largest financial centre in Slovakia. As of 2018 (1.Q.), the unemployment rate was 5.72%.
Economy of Slovenia
Slovenia today is a developed country that enjoys prosperity and stability as well as a GDP per capita by purchase power parity at 83% of the EU28 average in 2015, which is the same as in 2014 and 2 percentage points higher than in 2013. Nominal GDP in 2018 is 42.534 mio EUR, nominal GDP per capita (GDP/pc) in 2018 is EUR 21,267. The highest GDP/pc is in central Slovenia, where capital city Ljubljana is located, which is part of the Western Slovenia statistical region, which has a higher GDP/pc than eastern Slovenia.
Economy of Sri Lanka
With an economy worth $93.45 billion $298.310 billion PPP and a per capita GDP of about $4,310, $13,480 PPP as of 2018 Sri Lanka has mostly had strong growth rates in recent years. The Sri Lankan economy has seen robust annual growth at 6.4 percent over the course of the 2003-2012 period, well above its regional peers. In GDP per capita terms, it is ahead of other countries in the South Asian region. The main economic sectors of the country are tourism, tea export, apparel, textile, rice production and other agricultural products. In addition to these economic sectors, overseas employment contributes highly in foreign exchange: 90% of expatriate Sri Lankans reside in the Middle East.
Economy of Belgium
The modern, private enterprise economy of Belgium has capitalised on its central geographic location, highly developed transport network, and diversified industrial and commercial base. The first country to undergo an industrial revolution on the continent of Europe in the early 19th century, Belgium developed an excellent transportation infrastructure of ports, canals, railways, and highways to integrate its industry with that of its neighbors. Industry is concentrated mainly in the populous Flanders in the north, around Brussels and in the two biggest Walloon cities, Liège and Charleroi, along the sillon industriel. Belgium imports raw materials and semi-finished goods that are further processed and re-exported. Except for its coal, which is no longer economical to exploit, Belgium has few natural resources other than fertile soils. Nonetheless, most traditional industrial sectors are represented in the economy, including steel, textiles, refining, chemicals, food processing, pharmaceuticals, automobiles, electronics, and machinery fabrication. Despite the heavy industrial component, services account for 74.9% of GDP, while agriculture accounts for only 1% of GDP.
Economic history of Turkey
The economic history of Republic of Turkey may be studied according to sub-periods signified with major changes in economic policy: i) 1923-1929, when development policy emphasised private accumulation; ii) 1929-1945 when development policy emphasised state accumulation in a period of global crises; iii) 1950-1980, a period of state guided industrialisation based on import substituting protectionism; iv) 1980 onwards, opening of the Turkish economy to liberal trade in goods, services and financial market transactions. However one distinct characteristic between 1923–1985, in large part as a result of government policies, a backward economy developed into a complex economic system producing a wide range of agricultural, industrial, and service products for both domestic and export markets the economy grew at an average annual rate of six percent.
Economy of Kosovo
The Economy of Kosovo is a transition economy. Kosovo was the poorest province of the former Yugoslavia with a modern economy established only after a series of federal development subsidies in 1960s and 1970s. During the 1990s abolition of province's autonomous institutions followed by poor economic policies, international sanctions, little access to external trade and finance, and ethnic conflict severely damaged the already-weak economy. Since the declaration of independence in 2008 Kosovo's economy has grown each year, with relatively low effects from the global financial crisis; while there are many weaknesses for its potential in the future, many of them related to its internationally disputed status, there are also potential strengths, including its very low level of government debt and future liabilities and the strength of its banking system. Kosovo remains one of the poorest areas of Europe, with as much as 45% of the population living below the official poverty line, and 17% being extremely poor according to the World Bank.
Greek government-debt crisis
The Greek government-debt crisis is the sovereign debt crisis faced by Greece in the aftermath of the financial crisis of 2007–08. Widely known in the country as The Crisis, it reached the populace as a series of sudden reforms and austerity measures that led to impoverishment and loss of income and property, as well as a small-scale humanitarian crisis. In all, the Greek economy suffered the longest recession of any advanced capitalist economy to date, overtaking the US Great Depression. As a result, the Greek political system has been upended, social exclusion increased, and hundreds of thousands of well-educated Greeks have left the country.