According to GDP data, Germany and the United Kingdom are the two largest economies in Europe in 2024. GDP is a crucial metric for evaluating a country’s economic strength. The conventional method for measuring GDP involves the expenditure method, which adds up expenditure on new consumer goods, investments, government spending, and the net value of exports. This report aims to provide insight into the largest economies in Europe in 2024, arranged by their GDP.
Which are the top 5 GDP countries in Europe? Germany, the United Kingdom, France, Italy, and Russia, respectively, hold those positions in 2024. Now, let’s take a look at the largest economies/ richest countries in Europe in 2024.
Germany ($4.42 trillion): Germany maintains its position as the largest economy in Europe due to its strong focus on exports. The German economy is well-known for its precision in the engineering, automotive, chemical, and pharmaceutical sectors. It benefits from a skilled labor force, robust research and development initiatives, and a strong commitment to fostering innovation.
United Kingdom ($3.33 trillion): The economy of the United Kingdom is a combination of services, manufacturing, finance, and creative sectors. London is a global financial center that attracts foreign investments. Its trade partnerships and globalization also influence the UK’s economic growth.
Largest Economies In Europe In 2024
| Rank | Country | GDP (Billions, US$) | GDP Per Capita (Nominal, US$) |
|---|---|---|---|
| 1 | Germany | 4429.83 | 52,824 |
| 2 | United Kingdom | 3332.05 | 48,912 |
| 3 | France | 3049.01 | 46,315 |
| 4 | Italy | 2186.08 | 37,146 |
| 5 | Russia | 1862.47 | 13,006 |
| 6 | Spain | 1582.05 | 33,090 |
| 7 | Netherlands | 1092.74 | 61,770 |
| 8 | Switzerland | 905.68 | 102,865 |
| 9 | Poland | 842.17 | 22,393 |
| 10 | Belgium | 627.51 | 53,657 |
| 11 | Sweden | 597.11 | 55,216 |
| 12 | Ireland | 589.56 | 112,248 |
| 13 | Norway | 546.76 | 99,266 |
| 14 | Austria | 526.18 | 58,013 |
| 15 | Denmark | 420.8 | 71,402 |
| 16 | Romania | 350.41 | 18,413 |
| 17 | Czech Republic | 335.24 | 30,475 |
| 18 | Finland | 305.68 | 54,507 |
| 19 | Portugal | 276.43 | 26,879 |
| 20 | Greece | 242.38 | 23,173 |
| 21 | Hungary | 203.82 | 21,075 |
| 22 | Ukraine | 173.41 | 5,225 |
| 23 | Slovakia | 133.04 | 24,471 |
| 24 | Bulgaria | 103.09 | 16,087 |
| 25 | Luxembourg | 89.09 | 135,605 |
| 26 | Croatia | 80.18 | 20,877 |
| 27 | Lithuania | 79.42 | 28,482 |
| 28 | Serbia | 75.01 | 11,301 |
| 29 | Belarus | 68.86 | 7,477 |
| 30 | Slovenia | 68.39 | 32,350 |
| 31 | Latvia | 46.66 | 24,929 |
| 32 | Estonia | 41.79 | 30,998 |
| 33 | Iceland | 30.57 | 78,837 |
| 34 | Bosnia and Herzegovina | 26.94 | 7,778 |
| 35 | Albania | 23.03 | 8,057 |
| 36 | Malta | 20.31 | 38,715 |
| 37 | Moldova | 16 | 6,411 |
| 38 | North Macedonia | 15.8 | 7,672 |
| 39 | Kosovo | 10.46 | 5,912 |
| 40 | Monaco | 8.59 | 234,317 |
| 41 | Liechtenstein | 7.71 | 184,083 |
| 42 | Montenegro | 7.05 | 11,338 |
| 43 | Andorra | 3.69 | 44,107 |
| 44 | San Marino | 1.99 | 58,541 |
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