The economy of the European Union is the joint economy of the member states of the European Union (EU). It is the third largest economy in the world in nominal terms, after the United States and China, and the third one in purchasing power parity (PPP) terms, after China and the United States. The European Union's GDP estimated to be around 16.6trillion(nominal)in2022representingaroundonesixthoftheglobaleconomy.GermanyhasbyfarthebiggestnationalGDPofallEUcountries,followedbyFranceandItaly.TheeuroisthesecondlargestreservecurrencyandthesecondmosttradedcurrencyintheworldaftertheUnitedStatesdollar.Theeuroisusedby20ofitsmembers,overall,itistheofficialcurrencyin26countries,intheeurozoneandinsixotherEuropeancountries,officiallyordefacto.TheEuropeanUnioneconomyconsistsofaninternalmarketofmixedeconomiesbasedonfreemarketandadvancedsocialmodels.Forinstance,itincludesaninternalsinglemarketwithfreemovementofgoods,services,capital,andlabor.TheGDPpercapita(PPP)was43,188 in 2018, compared to 62,869intheUnitedStates,44,246 in Japan and 18,116inChina.TherearesignificantdisparitiesinGDPpercapita(PPP)betweenmemberstatesrangingfrom106,372 in Luxembourg to 23,169inBulgaria.WithalowGinicoefficientof31,theEuropeanUnionhasamoreegalitariandistributionofincomethantheworldaverage.EUinvestmentsinforeigncountriestotal9.1 trillion, while the foreign investments made in the union total $5.1 trillion in 2012, by far the highest foreign and domestic investments in the world. Euronext is the main stock exchange of the Eurozone and the world's sixth largest by market capitalisation. The European Union's largest trading partners are the United States, China, the United Kingdom, Switzerland, Russia, Turkey, Japan, Norway, South Korea, India, and Canada. In 2018, public debt in the union was 80% of GDP, with disparities between the lowest rate, Estonia with 8.
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Explores residential energy demand analysis, modeling, and forecasting, emphasizing the importance of understanding consumption patterns and forecasting future demand.
Following a Finnish initiative the European Commission is preparing a communication on logistics in 2006. To support the preparations Finland arranged the so called EULOC-process in which logistics experts from different countries were invited to participa ...
Ministry of Transport and Communications of Finland2006
A de-trending technique was developed for short-term and annual variations to identify long-term trends in primary and secondary pollutants. With this approach, seasonal and annual variations are removed using a mean year; the residual meteorol. short-term ...
The European Union (EU) is a political and economic union of 27 member states that are party to the EU's founding treaties, and thereby subject to the privileges and obligations of membership. They have agreed by the treaties to share their own sovereignty through the institutions of the European Union in certain aspects of government. State governments must agree unanimously in the Council for the union to adopt some policies; for others, collective decisions are made by qualified majority voting.
The economy of Poland is an industrialized, mixed economy with a developed market that serves as the sixth-largest in the European Union by nominal GDP and fifth-largest by GDP (PPP). Poland boasts the extensive public services characteristic of most developed economies. Since 1988, Poland has pursued a policy of economic liberalization but retained an advanced public welfare system. This includes universal free public healthcare and education (including tertiary), extensive provisions of free public childcare and parental leave.
In economics, a luxury good (or upmarket good) is a good for which demand increases more than what is proportional as income rises, so that expenditures on the good become a greater proportion of overall spending. Luxury goods are in contrast to necessity goods, where demand increases proportionally less than income. Luxury goods is often used synonymously with superior goods. The word "luxury" derives from the Latin verb luxor meaning to overextend or strain.