The economy of Europe comprises more than 730 1 million people in 48 different countries like other continents the wealth of Europe States varies although the poorest are well above the poorest states of other continents in terms of GDP and living standards the difference in wealth across Europe can be seen roughly and former Cold War divided with some countries breaching the divide whilst most European states have GDP per capita higher than the world's average and are very highly developed some European economies despite their position over the world's average in the Human Development Index are still catching up with European leading countries throughout this article Europe and derivatives of the word are taken to include selected states whose territory is only partly in Europe euro such as Turkey Azerbaijan and the Russian Federation a euro and states that are geographically in Asia bordering Europe and culturally adherent to the continent a euro such as Armenia Georgia and Cyprus Europe in 2023 had a nominal GDP of 19.9 20 trillion dollars Europe's largest national economy is that of Germany which ranks fourth globally in nominal GDP and fifth in purchasing power parity GDP followed by the United Kingdom ranking fifth globally in nominal GDP followed by France ranking sixth globally in nominal GDP followed by Italy which ranks seventh globally in nominal GDP followed by Russia ranking tenth globally in nominal GDP then by Spain ranking thirteenth globally in nominal GDP these six countries all rank in the world's top 15 therefore European economies account for half of the 10 wealthiest ones the end of World War two brought European countries closer together culminating in the formation of the European Union and in 1999 the introduction of a unified currency euro the euro the EU as a whole...
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