Top 10 Countries in Europe and Central Asia (ECA) by Gross Domestic Product (RGDP) 1960-2018

This video features the top 10 countries in Europe and Central Asia (ECA) by gross domestic product (RGDP) from 1960 to 2018.

The GDP figures in this video represent the GDP at purchaser’s prices, which takes into account the total gross value added by all domestic producers in the economy and all relevant product taxes before deducting any subsidies not included in the product prices. Nevertheless, these figures do not factor in the depreciation of fabricated assets and the gradual degradation and depletion of precious natural resources over time.

Moreover, these data are expressed in constant 2010 U.S dollars to adjust for changing cost of living as a result of inflation, meaning the real GDP allows us to make meaningful comparison of quantity of output over the years. Last but not least, #GDP figures expressed in domestic currencies are converted to their USD equivalent using 2010 official exchange rate.

Note that these countries/economies/territories are classified by World Bank based on their macro-geographical location and other important criteria for the purpose of statistical analysis. Therefore, the resulting classification by no means implies political independence nor represents the political or any other affiliation of the countries or entities in question.

Objectives of This Video:

1) To find out the 10 largest economies in Europe and Central Asia from 1960 to 2018.
2) To visually compare the economic performance of European and Central Asian countries from the perspective of real gross domestic product (RGDP) over the years.

Key Takeaways from This Video:

1) Germany, the largest country in Europe and Central Asia (ECA) by real GDP in 2018, makes up as much as 4.81% of the world real GDP that year.
2) The total GDP of the 10 largest ECA economies has climbed by 560% from 1960 to 2018 while the World GDP has increased by more than eightfold (828%) over the same period.
3) As of 2018, the 10 biggest ECA economies together constitute 77.35% of the ECA’s total real economic output or a jaw-dropping 22.73% of the world economy in terms of real GDP.
4) For the past 10 years, the top 10 largest economies in the ECA region have, on average, grown by 1.140% annually, which is about 2.21 times slower than the global average of 2.518%.

Some of the largest ECA economies covered: Germany, France, United Kingdom, Italy, Russian Federation, Spain Turkey, Netherlands, Switzerland, Poland, Sweden, Belgium, Norway, Austria and Ireland.

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This video is part of the video series called “Economic Performance Indicators Rankings: Gross Domestic Product (GDP)” created to examine and compare the economic condition of all countries in the world with the help of various appropriate macroeconomic indicators, particularly the Gross Domestic Product (GDP) data.

Link to the video playlist: https://www.youtube.com/playlist?list=PLRA_U4Pw2yqkygM2hVBKT4qU9-ZPYsC80

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Questions Worth Asking:

1) Why do you think these #countries are being featured as the 10 largest economies in Europe and Central Asia (#ECA) by real GDP?
2) Should countries place their highest priorities on enhancing and improving their real gross domestic product (RGDP) when it comes to designing the most appropriate socioeconomic policy?
3) What should policymakers do to ensure sustainable development in both their economy, environment and social structure?

Let me know what your thoughts are for each of the questions mentioned above.

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We have created the following playlists to organize our videos by theme:

Greatest Battle of the 21st Century https://bit.ly/2Rzd93P
Economic Performance Indicators Rankings https://bit.ly/37dfmZf
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Demographic and Social Statistics: Population https://bit.ly/2uhALSM

Do check out similar videos on other global economic trends and news:

Top 10 Countries in Europe and Central Asia by Population 1960-2018 https://youtu.be/x3o2sQb5rjg
Top 15 Countries by Army Size 1816-2018 https://youtu.be/NDjimnQ-GgU

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Data Source:
World Bank https://data.worldbank.org/

Music Source: Youtube Audio Library
Music Title: Animal (Sting) & Lonely Nights & Underdog & Battle Ground
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