2014-10 Richest countries in Europe

EuCham – European Chamber lists the richest countries in Europe measured on GDP per capita based on PPP (purchasing power parity). PPP GDP is gross domestic product converted to international dollars using purchasing power parity rates, where an international dollar has the same purchasing power over GDP as the USD has in the United States.

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EuCham Research October 2014 Richest countries in Europe 1 Luxembourg 90,790 2 Norway 65,461 3 Switzerland 53,672 4 Austria 44,149 5 Sweden 43,533 …     45 Moldova 4,669 Ranking based on GDP per capita in USD, using PPP exchange rates, 2013. 45  European countries were considered

Bosnia & Herzegovina is ranked as the top country in Europe with the highest unemployment rate of 44% Following Bosnia & Herzegovina in the rankings are Kosovo, Macedonia and Greece with the highest unemployment rates in Europe (excluding city states) Belarus has the lowest unemployment rate of 0.5% in Europe (data to be considered carefully) Source: eucham.eu/research

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EuCham – European Chamber lists the richest countries in Europe measured on GDP per capita based on PPP (purchasing power parity). PPP GDP is gross domestic product converted to international dollars using purchasing power parity rates, where an international dollar has the same purchasing power over GDP as the USD has in the United States.

GDP at purchaser’s prices is the sum of gross value added by all resident producers in the economy, plus product taxes, minus subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources.

According to the EuCham ranking the richest European country is Luxembourg with USD 90,790 per capita. The richest countries following are Norway, Switzerland, Austria and Sweden. At the bottom of the list, the poorest country in terms of GDP per capita is Moldova with only USD 4,669 per capita.

However, EuCham reminds that excessively focusing on economic indicators such as GDP or stock market indices takes the attention away from entire measurement of countries’ and their people’s progress – their overall well being.

Besides, even EuCham itself argues that GDP is an imperfect measure of social progress because it does not take into account harm to the environment.

Table 1: Richest countries in Europe, PPP GDP per capita in USD, 2013 data

Sources: World Bank (2013)
EuCham Research Department – Compiled by Luca Nazzicone and Dimal Nathwani 2014-10-27