Richest European Countries

The economic strength and viability of a country often get encapsulated in certain vital indicators, one of which is the Gross National Income (GNI) per capita. Distinct from Gross Domestic Product (GDP), GNI per capita represents the value brought into a nation through products, services, and international business transactions. While GDP measures domestic production's economic impact, GNI nuances this image by providing insight into international income flows and offers a less distorted view by accounting for tax sheltering activity.

Analyzing European nations through the lens of GNI per capita, the data points to significant economic disparities, shaping the economic panorama of the continent. From the affluent corners of Switzerland to the comparatively humble economic landscapes of Moldova, the GNI per capita unveils Europe's diverse economic narrative.

Key findings from the data include:

• Switzerland tops the list as the richest European country with a GNI per capita of $80,000, playing a pivotal role in Europe's wealth distribution with substantial gaps with its followers. 
• Nations traditionally associated with high living standards and robust economies, such as Norway, Iceland, and Luxembourg, also feature in the top five, indicating a positive correlation between GNI and socio-economic wellbeing.
• Despite being part of the Eurozone, Southern and Eastern European countries such as Spain, Italy, and Poland, exhibit a considerably lower GNI per capita compared to their Western and Northern European counterparts. 
• Countries that have experienced significant economic transformations and growth, like Ireland (with a GNI per capita of $63,500), are exceptions to the North-South, East-West wealth divide that manifests in the data.
• The economic diversity throughout the European continent is cemented by the stark contrast between the highest GNI per capita (Switzerland at $88,000) and the lowest (Ukraine at $3,500).

To sort the data in the table, click on the column headers.

Year: 2022

Source: United Nations Statistics Division

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Year: 2023

Source: IMF: World Economic Outlook database: April 2023