Countries With the Most Financial Power in the EU

The European Union has been an economic and political powerhouse among nations and continents, now controlling one-sixth of global trade. As of 2024, the combined gross domestic product of the countries under the body stood at $19.35 trillion. These numbers are a result of the might of certain countries like Germany, Italy, and others. Here are the top 10 countries contributing to the E.U.’s economic positioning.

Germany

Germany has the largest economy in the European Union and the second largest in the world after the United States, so it should come as no surprise that we have it first on this list. It is a major financial and trade center, with investments like stocks, commodities, and currency trades being a huge part of its finance market, driving EUR/USD pairs up among investors. 

France 

France is the world’s seventh-largest economy by GDP ($3.13 trillion) and constitutes about 4% of the world’s global domestic product. It is one of the most influential in the European Union and was listed among the most innovative countries in the world in the Bloomberg Innovative Index in 2020. 

Italy

Services like finance, tourism, and retail dominate Italy’s main economic sector. These activities constitute about 70% of the country’s GDP. It boasts of the third largest economy in the E.U., with $2.26 trillion GDP in 2024.

Spain

Spain is famous for its culture, hospitality, delicious delicacies, and iconic landmarks. Tourism is pivotal to Spain’s economic sector, as it is the second most popular destination for expats worldwide. 

Netherlands

The Netherlands is one of the world’s largest exporters of agricultural produce, especially plants, dairy products, flowers, and vegetables. In addition to its proficiency in agriculture, the economy is also seen as leading in petroleum processing and the chemical industry.

Switzerland 

The World Bank reveals that Switzerland’s major economic contributor is the export of goods and services, and over the years, the country’s figures have been increasing steadily. Recent statistics reveal that in 2023, Switzerland’s GDP amounted to around $885.14 billion. 

Turkey

Turkey is another country that stands out in the European Union with a staggering growth of 157% in wealth despite global inflation. It is one of the world’s largest economies and presently ranks 19th position among others. Its 2024 GDP is $1.114 trillion.

Belgium

Belgium’s wealth stems from its high investments in heavy industrial innovations, services, and agriculture. Its GDP is $655 billion, and these numbers are projected to increase by a total of $104.1 billion by 2029.

Sweden

Sweden is one of the most developed export-oriented countries in the E.U., supported by its exposure to materials like timber, hydropower, and iron ore. The resources have influenced the country’s foreign trade significantly over the years. Today, Sweden accounts for $623 billion in GDP.

Austria

Like many other E.U. giants, Austria’s economy is fueled by the services sector. The leading industries here are food and luxury commodities, vehicle manufacturing, chemicals, and steel construction. Austria’s GDP today is $541 billion. 

Despite their geographical size, the E.U.’s financial stature leads the global market. If you’re looking to invest in the global market, industries in these top 10 countries will serve you well.