Austria
Economic System: Market
HDI Ranking: 23
GDP (national): $374.1 billion (2015 est.)
Per capita income: $47,300 (2015 est.)
Level of Development: MDC
Levels of Economic Activities & Percentage: Primary 5.5%, Secondary 27.5%, Tertiary 67%
Major Imports: machinery and equipment, Manufactured goods including cars, machinery, and equipment and oil, natural gas, and food
Major Exports: paper, manufactured metal goods, metals, textiles, food, and chemicals
Belgium
Economic System: Market
HDI Ranking: 21
GDP (national): $454.7 billion (2015 est.)
Per capita income: $43,600 (2015 est.)
Level of Development: MDC
Levels of Economic Activities & Percentage: Primary 1.3%, Secondary 18.6%, Tertiary 80.1%
Major Imports: chemicals, raw diamonds, oil, transportation related machinery
Major Exports: machinery, chemicals, metals, completed diamonds, food, machinery
France
Economic System: Mixed
HDI Ranking: 22
GDP (national): $2.422 trillion
Per capita income: $41,200
Level of Development: MDC
Levels of Economic Activities & Percentage: Primary 3.8%, Secondary 24.3%, Tertiary 71.8%
Major Imports: chemicals, oil, cars, planes, machinery
Major Exports: pharmaceutical products, chemicals, wine, transportation related machinery
Germany
Economic System: Mixed
HDI Ranking: 6
GDP (national): $3.358 trillion (2015 est.)
Per capita income: $46,900 (2015 est.)
Level of Development: MDC
Levels of Economic Activities & Percentage: Primary 1.6%, Secondary 24.6%, Tertiary 73.8%
Major Imports: agricultural products, cars, machinery, oil, metal, food, pharmaceuticals
Major Exports: chemicals, electronics, machinery, textiles, rubber, computers, food, plastic, cars
Ireland
Economic System: Mixed
HDI Ranking: 6
GDP (national): $238 billion (2015 est.)
Per capita income: $55,500 (2015 est.)
Level of Development: MDC
Levels of Economic Activities & Percentage: Primary 5%, Secondary 19%, Tertiary 78%
Major Imports: machinery, chemicals, clothing, oil, textiles, computers
Major Exports: machinery, chemicals, electronics, food, medical items and medicine, animal goods, chemicals
Liechtenstein
Economic System: Capitalist
HDI Ranking: 13
GDP (national): $5.113 billion (2010 est.)
Per capita income: $89,400 (2009 est.)
Level of Development: MDC
Levels of Economic Activities & Percentage: Primary 0.8%, Secondary 39.4% Tertiary 59.95%
Major Imports: agricultural products, textile, raw materials, cars, machinery, food
Major Exports: medical field related products, machinery, electronics, food
Luxembourg
Economic System: Market
HDI Ranking: 19
GDP (national): $57.42 billion (2015 est.)
Per capita income: $99,000 (2015 est.)
Level of Development: MDC
Levels of Economic Activities & Percentage: Primary 2.2%, Secondary 17.2%, Tertiary 80.6%
Major Imports: metals, planes, chemicals, luxury goods, food
Major Exports: machinery, glass, chemicals, rubber, metals
Monaco
Economic System: mixed
HDI Ranking: N/A
GDP (national): $6.063 billion (2013 est.)
Per capita income: $78,700 (2013 est.)
Level of Development: Very High Human Development/MDC
Levels of Economic Activities & Percentage: Primary 0%, Secondary 16.1%, Tertiary 83.9%
Major Imports: food, cars, jewelry, metals
Major Exports: tourism, machinery, facial products
Netherlands
Economic System: mixed
HDI Ranking: 5
GDP (national): $738.4 billion (2015 est.)
Per capita income: $49,200 (2015 est.)
Level of Development: MDC
Levels of Economic Activities & Percentage: Primary 2%, Secondary 18%, Tertiary 80%
Major Imports: chemicals, machinery, food, clothing, transportation equipment
Major Exports: chemicals, machinery, food
Switzerland
Economic System: Market
HDI Ranking: 3
GDP (national): $664.6 billion (2015 est.)
Per capita income: $58,600 (2015 est.)
Level of Development: MDC
Levels of Economic Activities & Percentage: Primary 3.4%, Secondary 23.4%, Tertiary 73.2%
Major Imports: agricultural products, cars, chemicals, machinery, textiles
Major Exports: agricultural products, machinery, chemicals, accessories, metals
United Kingdom
Economic System: Mixed
HDI Ranking: 14
GDP (national): $2.849 trillion (2015 est.)
Per capita income: $41,200 (2015 est.)
Level of Development: MDC
Levels of Economic Activities & Percentage: Primary 1.5%, Secondary 18.8%, Tertiary 79.7%
Major Imports: machinery, chemicals, food, fuel, manufactured goods
Major Exports: tobacco, drinks, food, chemicals, manufactured goods
Economic System: Market
HDI Ranking: 23
GDP (national): $374.1 billion (2015 est.)
Per capita income: $47,300 (2015 est.)
Level of Development: MDC
Levels of Economic Activities & Percentage: Primary 5.5%, Secondary 27.5%, Tertiary 67%
Major Imports: machinery and equipment, Manufactured goods including cars, machinery, and equipment and oil, natural gas, and food
Major Exports: paper, manufactured metal goods, metals, textiles, food, and chemicals
Belgium
Economic System: Market
HDI Ranking: 21
GDP (national): $454.7 billion (2015 est.)
Per capita income: $43,600 (2015 est.)
Level of Development: MDC
Levels of Economic Activities & Percentage: Primary 1.3%, Secondary 18.6%, Tertiary 80.1%
Major Imports: chemicals, raw diamonds, oil, transportation related machinery
Major Exports: machinery, chemicals, metals, completed diamonds, food, machinery
France
Economic System: Mixed
HDI Ranking: 22
GDP (national): $2.422 trillion
Per capita income: $41,200
Level of Development: MDC
Levels of Economic Activities & Percentage: Primary 3.8%, Secondary 24.3%, Tertiary 71.8%
Major Imports: chemicals, oil, cars, planes, machinery
Major Exports: pharmaceutical products, chemicals, wine, transportation related machinery
Germany
Economic System: Mixed
HDI Ranking: 6
GDP (national): $3.358 trillion (2015 est.)
Per capita income: $46,900 (2015 est.)
Level of Development: MDC
Levels of Economic Activities & Percentage: Primary 1.6%, Secondary 24.6%, Tertiary 73.8%
Major Imports: agricultural products, cars, machinery, oil, metal, food, pharmaceuticals
Major Exports: chemicals, electronics, machinery, textiles, rubber, computers, food, plastic, cars
Ireland
Economic System: Mixed
HDI Ranking: 6
GDP (national): $238 billion (2015 est.)
Per capita income: $55,500 (2015 est.)
Level of Development: MDC
Levels of Economic Activities & Percentage: Primary 5%, Secondary 19%, Tertiary 78%
Major Imports: machinery, chemicals, clothing, oil, textiles, computers
Major Exports: machinery, chemicals, electronics, food, medical items and medicine, animal goods, chemicals
Liechtenstein
Economic System: Capitalist
HDI Ranking: 13
GDP (national): $5.113 billion (2010 est.)
Per capita income: $89,400 (2009 est.)
Level of Development: MDC
Levels of Economic Activities & Percentage: Primary 0.8%, Secondary 39.4% Tertiary 59.95%
Major Imports: agricultural products, textile, raw materials, cars, machinery, food
Major Exports: medical field related products, machinery, electronics, food
Luxembourg
Economic System: Market
HDI Ranking: 19
GDP (national): $57.42 billion (2015 est.)
Per capita income: $99,000 (2015 est.)
Level of Development: MDC
Levels of Economic Activities & Percentage: Primary 2.2%, Secondary 17.2%, Tertiary 80.6%
Major Imports: metals, planes, chemicals, luxury goods, food
Major Exports: machinery, glass, chemicals, rubber, metals
Monaco
Economic System: mixed
HDI Ranking: N/A
GDP (national): $6.063 billion (2013 est.)
Per capita income: $78,700 (2013 est.)
Level of Development: Very High Human Development/MDC
Levels of Economic Activities & Percentage: Primary 0%, Secondary 16.1%, Tertiary 83.9%
Major Imports: food, cars, jewelry, metals
Major Exports: tourism, machinery, facial products
Netherlands
Economic System: mixed
HDI Ranking: 5
GDP (national): $738.4 billion (2015 est.)
Per capita income: $49,200 (2015 est.)
Level of Development: MDC
Levels of Economic Activities & Percentage: Primary 2%, Secondary 18%, Tertiary 80%
Major Imports: chemicals, machinery, food, clothing, transportation equipment
Major Exports: chemicals, machinery, food
Switzerland
Economic System: Market
HDI Ranking: 3
GDP (national): $664.6 billion (2015 est.)
Per capita income: $58,600 (2015 est.)
Level of Development: MDC
Levels of Economic Activities & Percentage: Primary 3.4%, Secondary 23.4%, Tertiary 73.2%
Major Imports: agricultural products, cars, chemicals, machinery, textiles
Major Exports: agricultural products, machinery, chemicals, accessories, metals
United Kingdom
Economic System: Mixed
HDI Ranking: 14
GDP (national): $2.849 trillion (2015 est.)
Per capita income: $41,200 (2015 est.)
Level of Development: MDC
Levels of Economic Activities & Percentage: Primary 1.5%, Secondary 18.8%, Tertiary 79.7%
Major Imports: machinery, chemicals, food, fuel, manufactured goods
Major Exports: tobacco, drinks, food, chemicals, manufactured goods
Western Europe is the home to many thriving economies. The countries in Western Europe such as the United Kingdom, Germany, and France alone each have a gross of countries combined due to each country grossing over trillions domestically. Although not being like big countries such as these, smaller countries in Western Europe are also very developed. The economy of Europe focuses on manufacturing and machinery in both population and revenue. Countries can be found importing resources that are crucial to their specialty such as Belgium importing raw diamonds to export the then finished items. The countries take advantage of their highly industrialized development to make profit. The smaller countries with smaller economies also pay workers a higher average salary compared to bigger countries in the region. Western Europe also focuses on tourism for their stable economy with significantly greater service jobs to accommodate the tourist population.
The European Union is formed of various different groups of countries in Europe but form one single economy. The European Union formed by the idea of striving has many advantages and disadvantages. Countries that are in the European Union are allowed to trade without tax which is an advantage because this allows for more trading between countries in Western Europe due to low cost and also helps maintain low prices of goods in the countries. Since all the countries under the EU are also required to use the Euro currency, trading between countries in Western Europe under the EU is also made easier. Another advantage is that citizens of countries under the EU are allowed to move to another country within the area that they please without having to pay. This will prove to be an advantage because the world is industry based and countries like France or the United Kingdom will be able to provide more job opportunities compared to countries in Western Europe like Liechtenstein that is significantly more ruralized. However, even with advantages, the EU also has many disadvantages. For example, right now Brexit, or the United Kingdom trying to leave the EU is taking place. However, the United Kingdom is facing problems because even though a massive population of the United Kingdom support Brexit, the EU does not allow easy leave after joining the EU. Another disadvantage of the EU that the United Kingdom has also been angered about is that since the EU is formed of many countries, the EU makes decisions not on the current conditions of each individual country but rather in general. This could be a disadvantage because each country is at a different pace than others and a decision made as a whole could possibly not benefit the country. Additionally, once a country has joined the EU the EU strips the country of most of its power which makes it hard for the own country to make decisions due to the EU having the bigger say in their country.