![]() Thanks to improvements including substantial banking reforms, a reduction in corruption, and heavy governmental investment in education, Georgia's economy and its score on the Human Development Index (HDI) are both on the rise. Geographically situated between Russia, Turkey, Armenia, and the Black Sea, this former member of the USSR is enduring some difficult times. Georgia posted a GNI per capita of $4,290 in 2020, lower than any European country except Ukraine. Some of Ukraine's continuing issues contributing to its poverty are government corruption, Russian aggression (specifically Russia's illegal seizure of Crimea in 2014 and the ongoing invasion started in 2022), and weak infrastructure. However, when the USSR collapsed, Ukraine had difficulty transitioning into a market economy, which sent much of the population into poverty. Ukraine once had the second-largest economy in the USSR. With a per capita GNI of $3,540, Ukraine is the poorest country in Europe as of 2020. **If counted as European countries rather than Asian countries, the transcontinental countries Azerbaijan ($4,214) and Armenia ($4,268) would also appear on the above list. Top 10 Poorest Countries in Europe (by 2020 GDP per capita, Atlas method, current US$)** *If counted as European countries rather than Asian countries, the transcontinental countries Armenia ($4,220) and Azerbaijan ($4,450) would also appear on the above list. Top 10 Poorest Countries in Europe (by 2020 GNI per capita, Atlas method, current US$)* It is often complemented by Gross National Income (GNI) per capita, which gives a better indication of how that nation's individual citizens are faring. Gross Domestic Product (GDP) is one of the most important metrics used to measure the economic wealth of an entire nation. ![]() ![]() Eastern European countries, particularly those that were significantly affected by the Soviet Union's downfall, tend to be the poorest today. ![]() However, economic prosperity in Europe varies significantly between countries. ![]() For example, Germany has the fourth-largest economy in the world. Several European countries are individually very wealthy and are among some of the wealthiest globally. The European Union's collective economy ranks as one of the top three in the world alongside the United States and China (the exact order switches depending upon the specific statistic being compared). ![]()
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