Austria
Type of economy- Well developed Market Economy
HDI Ranking- 23
GDP Per Capita- 50,546.70 USD
Level of Development-MDC
Major Imports- cars, crude petroleum, refined petroleum, vehicle parts, and packaged medicaments
Major Exports- packaged medicaments, vehicle parts, cars, human or animal blood, and combustion engines
HDI Ranking- 23
GDP Per Capita- 50,546.70 USD
Level of Development-MDC
Major Imports- cars, crude petroleum, refined petroleum, vehicle parts, and packaged medicaments
Major Exports- packaged medicaments, vehicle parts, cars, human or animal blood, and combustion engines
Belgium
Type of economy- private enterprise
HDI Ranking- 21
GDP Per Capita- 46,877.99
Level of Development- MDC
Major Imports- machinery and equipment, raw diamonds, pharmaceuticals, foodstuffs, transportation equipment, and oil products
Major Exports- equipment, finished diamonds, metals and metal products, and foodstuffs
HDI Ranking- 21
GDP Per Capita- 46,877.99
Level of Development- MDC
Major Imports- machinery and equipment, raw diamonds, pharmaceuticals, foodstuffs, transportation equipment, and oil products
Major Exports- equipment, finished diamonds, metals and metal products, and foodstuffs
France
Type of economy- mixed economy
HDI Ranking- 22
GDP Per Capita- 42,503.30
Level of Development- MDC
Major Imports- machinery and equipment, vehicles, crude oil, aircraft, plastics, chemicals
Major Exports- machinery and transportation equipment, aircraft, plastics, chemicals, pharmaceutical products, iron and steel, beverages
HDI Ranking- 22
GDP Per Capita- 42,503.30
Level of Development- MDC
Major Imports- machinery and equipment, vehicles, crude oil, aircraft, plastics, chemicals
Major Exports- machinery and transportation equipment, aircraft, plastics, chemicals, pharmaceutical products, iron and steel, beverages
Germany
Type of economy- social market economy
HDI Ranking- 6
GDP Per Capita- 46,268.64
Level of Development- MDC
Major Imports- machinery, data processing equipment, vehicles, chemicals, oil and gas, metals, electric equipment, pharmaceuticals, foodstuffs, and agricultural products
Major Exports- motor vehicles, machinery, chemicals, computer and electronic products, electrical equipment, pharmaceuticals, metals transport equipment, foodstuffs, textiles, rubber, and plastic products
HDI Ranking- 6
GDP Per Capita- 46,268.64
Level of Development- MDC
Major Imports- machinery, data processing equipment, vehicles, chemicals, oil and gas, metals, electric equipment, pharmaceuticals, foodstuffs, and agricultural products
Major Exports- motor vehicles, machinery, chemicals, computer and electronic products, electrical equipment, pharmaceuticals, metals transport equipment, foodstuffs, textiles, rubber, and plastic products
Liechtenstein
Type of economy- market economy
HDI Ranking- .908
GDP Per Capita- 134,617.38
Level of Development- MDC
Major Imports- agricultural products, raw materials, energy products, machinery, metal goods, textiles, foodstuffs, and motor vehicles
Major Exports- small special machinery, parts for motor vehicles, dental products, hardware, prepared foodstuffs, electronic equipment, and optical products
HDI Ranking- .908
GDP Per Capita- 134,617.38
Level of Development- MDC
Major Imports- agricultural products, raw materials, energy products, machinery, metal goods, textiles, foodstuffs, and motor vehicles
Major Exports- small special machinery, parts for motor vehicles, dental products, hardware, prepared foodstuffs, electronic equipment, and optical products
Luxembourg
Type of economy- open market
HDI Ranking- 22
GDP Per Capita- 110,697.03
Level of Development- MDC
Major Imports- minerals, metals, and foodstuffs
Major Exports- machinery and equipment, steel products, chemicals, rubber products, glass
HDI Ranking- 22
GDP Per Capita- 110,697.03
Level of Development- MDC
Major Imports- minerals, metals, and foodstuffs
Major Exports- machinery and equipment, steel products, chemicals, rubber products, glass
Monaco
Type of economy- free market
HDI Ranking- .946
GDP Per Capita- 163,025.86
Level of Development- MDC
Major Imports- foods, chemicals, and transportation products
Major Exports- textiles, manufactured products, art products
HDI Ranking- .946
GDP Per Capita- 163,025.86
Level of Development- MDC
Major Imports- foods, chemicals, and transportation products
Major Exports- textiles, manufactured products, art products
The Netherlands
Type of economy- private free market
HDI Ranking- 5
GDP Per Capita- 50,793.14
Level of Development- MDC
Major Imports- machinery and transport equipment, chemicals, foodstuffs
Major Exports- machinery and equipment, chemicals, fuels, and foodstuffs
HDI Ranking- 5
GDP Per Capita- 50,793.14
Level of Development- MDC
Major Imports- machinery and transport equipment, chemicals, foodstuffs
Major Exports- machinery and equipment, chemicals, fuels, and foodstuffs
Switzerland
Type of economy- market
HDI Ranking- 3
GDP Per Capita- 84,815.41
Level of Development- MDC
Major Imports- machinery, chemicals, vehicles, metals, agricultural products
Major Exports- machinery, chemicals, metals, watches, agricultural products
HDI Ranking- 3
GDP Per Capita- 84,815.41
Level of Development- MDC
Major Imports- machinery, chemicals, vehicles, metals, agricultural products
Major Exports- machinery, chemicals, metals, watches, agricultural products
Summary
Western Europe has very successful economies. All these countries are MDC’s. They have good rankings for HDI and GDP. Their trading/ imports and exports are good, stable with other countries. Western Europe is one of the most developed regions in the world.
European Union
The European Union (EU) has been around since 1951 and five of the original members were the Netherlands, France, Belgium, Germany, and Luxembourg, all Western European countries. The EU has provided both many advantages and disadvantages, but the disadvantages have come to the attention of many after Brexit in the summer of 2016. The EU has provided trading between other EU countries, which lowers the cost of goods. Also, the same currency, the euro, is helpful and a result of the EU because business and traveling are made easier. One of the largest benefits of the EU is the lack of conflict between EU nations. However, the EU forces shared wealth, and countries such as Germany are forced to share their fortune, which can prevent a country from being a world leader. Finally, the EU serves the interest of all of the European Union, and smaller countries’ voices can be left behind.