Doesn't Monaco have a huge economy? I thought there were a ridiculous amount of casinos there. You would think that you bring in a lot of money, especially from tourists.
That's because what you mostly see in such comparisons is GDP per capita, which for Poland is relatively low. We have a population of almost 40 million people!
Austria is a wealthy country and has a robust economy (per capita). But it's population is only about 9 million. So its economy is not going to be nearly as large as much more highly populated countries like Germany, Italy and the UK.
However, the asian part is richer: Based on 2008 data about 33% of the Russian economy has been generated in the asian part. With "West Siberian economic region" generating already 21%.
Interesting to note how all 10 of these aren't equal to number 1 on the Asia list. The top 2 combined don't even equal number 2 on the Asia list. How the times have changed.
Well, these are total GDP, so the population disparity alone makes a huge difference. No single country in Europe has anywhere near the population of China and India, so it makes sense they don't compare that way. Per capita though, a very different story.
Not really. US dollars seem to be the international standard for measuring GDPs, even in countries that don't use this currency. And Euros aren't even used in all European countries.
I swear there's more comments making fun of people complaining that quizzes are too US centric than there are comments complaining that quizzes are too US centric.
With Russia post the collapse of the ruble being among the cheapest countries in Europe now, and the UK being among the most expensive, this might be an effect of using PPP, but I don't know.
Russia has a smaller nominal GDP than the UK, but when adjusted for purchasing power parity (PPP) – a way of measuring what an amount of money will buy in different countries – Russia is larger.
My guess is that you are not looking at PPP numbers. Switzerland's nominal GDP is inflated by its strong currency. For example, that $8 Guiness in Switzerland isn't really worth more than a $4 Guiness in France. PPP takes this into account.
Which the Swiss can then use to purchase goods and services abroad, or convert to other currencies at those strong rates to do the same. PPP tries to correct for costs, but it does so in ways that massively underestimate real disparities in wealth between countries. So much so, that the increasingly widespread adoption of the measurement by World Bank-types seems like an intentional effort to pretend the world is much more equal than it is. If citizens of Pakistan and Switzerland want to buy a Hyundai, travel to Turkey, or go to university in Australia, PPP is hardly going to matter at all.
Not to mention that extra $4 for the Swiss Guinness doesn't merely vanish into thin air. I'm sure, for instance, that Swiss bar tenders end up better compensated than French ones, and are better able to travel and buy Hyundais as a result. A big part of the cost of the products that you buy is going to pay for the labor of those creating and delivering those products. Table service in a 1st world country with extremely high HDI and standards of living is going to be more expensive than a product packaged by slave laborers in Bangladesh living in abject poverty. The Swiss bar is likely cleaner and better maintained as well, paid for through higher taxes.
The Swiss bar owner is probably making better profits, too, inflating prices in his bar because he knows that his affluent customers will be able to afford it. Profit margins for stores and restaurants in 3rd world countries can sometimes be extremely slim as products are priced for the market they are sold in.
I am not a fan of these per capita questions. Worse yet, when you have to read the fine print to find it is per capita. But it ends up just thinking of the smallest countries and not the as much like in this case, the GDP countries.
The population of the above countries is 450 million, while China has a population of 1.4 billion.
These European countries have a combined GDP (PPP) of almost 22 trillion compared to China's 27 trillion.
The Swiss bar owner is probably making better profits, too, inflating prices in his bar because he knows that his affluent customers will be able to afford it. Profit margins for stores and restaurants in 3rd world countries can sometimes be extremely slim as products are priced for the market they are sold in.
uld turkey count
In november 2022, it had a gdp of 1,328 trillion dollars