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Russia is the largest transcontinental European economy and will remain so until at least 2030. San Marino is Europe's smallest economy, and is also the third weakest growing economy in Europe. United Kingdom is the largest non-eurozone economy in Europe.
Europe's population growth is low, and its median age high. Most of Europe is in a mode of sub-replacement fertility , which means that each new(-born) generation is less populous than the one before. [ 3 ]
The primary resource for funding the European Union is the contributions sought from member states. Each member state contributes to the EU budget, and receives funding back from the EU, depending on the relative wealth of the states, i.e. their ability to pay.
The economy of Europe comprises about 748 million people in 50 countries. Throughout this article "Europe" and derivatives of the word are taken to include selected states whose territory is only partly in Europe, such as Turkey, Azerbaijan and Georgia, and states that are geographically in Asia, bordering Europe and culturally adherent to the continent, such as Armenia and Cyprus.
Gross domestic product (GDP) is the market value of all final goods and services from a nation in a given year. [1] Countries are sorted by nominal GDP estimates from financial and statistical institutions, which are calculated at market or government official exchange rates.
The dynamic is reflected in the chart below, which shows low-income inflation increases outpacing those for the other four quintiles since 2006, and over a nearer-term timeframe.
The EU has a long-term budget, named Multiannual Financial Framework (MFF), of €1,082.5 billion for the period 2014–2020, representing 1.02% of the EU-28's GNI. [48]The overall budget for the period 2021-2027 is of €1.8 trillion combining the MFF of €1,074.3 billion with an extraordinary recovery fund of €750 billion, known as Next Generation EU, to support member states hit by the ...
European car sales fell 7.8% in May compared with a year earlier. [3] Retail sales fell by 0.6% in June from the May level and by 3.1% from June in the previous year. Germany was the only country out of the four biggest economies in the eurozone to register an increase of activity in July though the increase was sharply down.