Economic Profiles
Belarus
Economic System:
HDI Ranking: 0.
GDP (national): $167.7 billion (purchasing power parity)
Per Capita Income: $17,700
Level of Development: MDC
Levels of Economic Activities:
Major Imports: Mineral Products, Machinery and Equipment, Chemicals, Foodstuffs, Metals
Major Exports: Machinery and Equipment, Mineral Products, Chemicals, Metals, Textiles, Foodstuffs
Bulgaria
Economic System:
HDI Ranking:
GDP (national): $133.9 billion (purchasing power parity)
Per Capita Income: $19,100
Level of Development:
Levels of Economic Activities:
Major Imports: Machinery and Equipment; Metals and Ores; Chemicals and Plastics; Fuels, Minerals, and Raw Materials
Major Exports: Clothing, Footwear, Iron and Steel, Machinery and Equipment, Fuels
Czech Republic
Economic System:
HDI Ranking:
GDP (national): $332.5 billion (purchasing power parity)
Per Capita Income: $31,600
Level of Development:
Levels of Economic Activities:
Major Imports: Machinery and Transport Equipment, Raw Materials and Fuels, Chemicals
Major Exports: Machinery and Transport Equipment, Raw Materials, Fuel, Chemicals
Hungary
Economic System:
HDI Ranking:
GDP (national): $258.4 billion (purchasing power parity)
Per Capita Income: $26,200
Level of Development:
Levels of Economic Activities:
Major Imports: Machinery and Equipment, Other Manufactures, Fuels and Electricity, Food Products, Raw Materials
Major Exports: Machinery and Equipment, Other Manufactures, Food Products, Raw Materials, Fuels and Electricity
Poland
Economic System:
HDI Ranking:
GDP (national): $1.005 trillion (purchasing power parity)
Per Capita Income: $26,500
Level of Development:
Levels of Economic Activities: Primary:
Secondary:
Tertiary:
Major Imports: Machinery and Transport Equipment, Intermediate Manufactured Goods, Chemicals, Minerals, Fuels, Lubricants, and Related Materials
Major Exports: Machinery and Transport Equipment, Intermediate Manufactured Goods, Miscellaneous Manufactured Goods, Food and Live Animals
Republic of Moldova
Economic System:
HDI Ranking:
GDP (national): $17.79 billion (purchasing power parity)
Per Capita Income: $5,000
Level of Development:
Levels of Economic Activities: Primary: 14.1%
Secondary: 21.1%
Tertiary: 64.7%
Major Imports: mineral products and fuel, machinery and equipment, chemicals, textiles
Major Exports: foodstuffs, textiles, machinery
Romania
Economic System:
HDI Ranking:
GDP (national): $413.8 billion (purchasing power parity)
Per Capita Income: $20,800
Level of Development:
Levels of Economic Activities: Primary: 4.8%
Secondary: 41.3%
Tertiary: 53.9%
Major Imports: machinery and equipment, other manufactured goods, chemicals, agricultural products and foodstuffs, fuels and minerals, metals and metal products, raw materials
Major Exports: machinery and equipment, other manufactured goods, agricultural products and foodstuffs, metals and metal products, chemicals, minerals and fuels, raw materials
Russian Federation
Economic System:
HDI Ranking:
GDP (national): $3.718 trillion (purchasing power parity)
Per Capita Income: $25,400
Level of Development:
Levels of Economic Activities: Primary: 4.6%
Secondary: 32.6%
Tertiary: 62.1%
Major Imports: machinery, vehicles, pharmaceutical products, plastic, semi-finished metal products, meat, fruits and nuts, optical and medical instruments, iron, steel
Major Exports: petroleum and petroleum products, natural gas, metals, wood and wood products, chemicals, and a wide variety of civilian and military manufactures
Slovakia
Economic System:
HDI Ranking:
GDP (national): $161 billion (purchasing power parity)
Per Capita Income: $29,700
Level of Development:
Levels of Economic Activities: Primary: 3.7%
Secondary: 31.1%
Tertiary: 65.3%
Major Imports: machinery and electrical equipment, vehicles and related parts, nuclear reactors and furnaces, fuel and mineral oils
Major Exports: vehicles and related parts, machinery and electrical equipment, nuclear reactors and furnaces, iron and steel, mineral oils and fuels
Ukraine
Economic System:
HDI Ranking:
GDP (national): $339.5 billion (purchasing power parity)
Per Capita Income: $7,500
Level of Development:
Levels of Economic Activities: Primary: 25%
Secondary: 20%
Tertiary: 55%
Major Imports: energy, machinery and equipment, chemicals
Major Exports: ferrous and nonferrous metals, fuel and petroleum products, chemicals, machinery and transport equipment, foodstuffs
Economic System:
HDI Ranking: 0.
GDP (national): $167.7 billion (purchasing power parity)
Per Capita Income: $17,700
Level of Development: MDC
Levels of Economic Activities:
Major Imports: Mineral Products, Machinery and Equipment, Chemicals, Foodstuffs, Metals
Major Exports: Machinery and Equipment, Mineral Products, Chemicals, Metals, Textiles, Foodstuffs
Bulgaria
Economic System:
HDI Ranking:
GDP (national): $133.9 billion (purchasing power parity)
Per Capita Income: $19,100
Level of Development:
Levels of Economic Activities:
Major Imports: Machinery and Equipment; Metals and Ores; Chemicals and Plastics; Fuels, Minerals, and Raw Materials
Major Exports: Clothing, Footwear, Iron and Steel, Machinery and Equipment, Fuels
Czech Republic
Economic System:
HDI Ranking:
GDP (national): $332.5 billion (purchasing power parity)
Per Capita Income: $31,600
Level of Development:
Levels of Economic Activities:
Major Imports: Machinery and Transport Equipment, Raw Materials and Fuels, Chemicals
Major Exports: Machinery and Transport Equipment, Raw Materials, Fuel, Chemicals
Hungary
Economic System:
HDI Ranking:
GDP (national): $258.4 billion (purchasing power parity)
Per Capita Income: $26,200
Level of Development:
Levels of Economic Activities:
Major Imports: Machinery and Equipment, Other Manufactures, Fuels and Electricity, Food Products, Raw Materials
Major Exports: Machinery and Equipment, Other Manufactures, Food Products, Raw Materials, Fuels and Electricity
Poland
Economic System:
HDI Ranking:
GDP (national): $1.005 trillion (purchasing power parity)
Per Capita Income: $26,500
Level of Development:
Levels of Economic Activities: Primary:
Secondary:
Tertiary:
Major Imports: Machinery and Transport Equipment, Intermediate Manufactured Goods, Chemicals, Minerals, Fuels, Lubricants, and Related Materials
Major Exports: Machinery and Transport Equipment, Intermediate Manufactured Goods, Miscellaneous Manufactured Goods, Food and Live Animals
Republic of Moldova
Economic System:
HDI Ranking:
GDP (national): $17.79 billion (purchasing power parity)
Per Capita Income: $5,000
Level of Development:
Levels of Economic Activities: Primary: 14.1%
Secondary: 21.1%
Tertiary: 64.7%
Major Imports: mineral products and fuel, machinery and equipment, chemicals, textiles
Major Exports: foodstuffs, textiles, machinery
Romania
Economic System:
HDI Ranking:
GDP (national): $413.8 billion (purchasing power parity)
Per Capita Income: $20,800
Level of Development:
Levels of Economic Activities: Primary: 4.8%
Secondary: 41.3%
Tertiary: 53.9%
Major Imports: machinery and equipment, other manufactured goods, chemicals, agricultural products and foodstuffs, fuels and minerals, metals and metal products, raw materials
Major Exports: machinery and equipment, other manufactured goods, agricultural products and foodstuffs, metals and metal products, chemicals, minerals and fuels, raw materials
Russian Federation
Economic System:
HDI Ranking:
GDP (national): $3.718 trillion (purchasing power parity)
Per Capita Income: $25,400
Level of Development:
Levels of Economic Activities: Primary: 4.6%
Secondary: 32.6%
Tertiary: 62.1%
Major Imports: machinery, vehicles, pharmaceutical products, plastic, semi-finished metal products, meat, fruits and nuts, optical and medical instruments, iron, steel
Major Exports: petroleum and petroleum products, natural gas, metals, wood and wood products, chemicals, and a wide variety of civilian and military manufactures
Slovakia
Economic System:
HDI Ranking:
GDP (national): $161 billion (purchasing power parity)
Per Capita Income: $29,700
Level of Development:
Levels of Economic Activities: Primary: 3.7%
Secondary: 31.1%
Tertiary: 65.3%
Major Imports: machinery and electrical equipment, vehicles and related parts, nuclear reactors and furnaces, fuel and mineral oils
Major Exports: vehicles and related parts, machinery and electrical equipment, nuclear reactors and furnaces, iron and steel, mineral oils and fuels
Ukraine
Economic System:
HDI Ranking:
GDP (national): $339.5 billion (purchasing power parity)
Per Capita Income: $7,500
Level of Development:
Levels of Economic Activities: Primary: 25%
Secondary: 20%
Tertiary: 55%
Major Imports: energy, machinery and equipment, chemicals
Major Exports: ferrous and nonferrous metals, fuel and petroleum products, chemicals, machinery and transport equipment, foodstuffs
The economic state of Eastern Europe is starting to decline. GDPs are dropping from year to year in general, and political tensions between nations only exaserbates this. Another factor that may play into this is also the high primary job percentage in comparison to the other economic sectors, which causes there to be fewer services provided. However, not all is negative for Eastern Europe's economy. Many countries are major exporters of metals and mechanized goods, as well as oil, which are widely used around the world and the increase in income from the exporting of them greatly helps keep the GDP from dropping further. Another aspect assisting Eastern Europe is it's slow movement towards even more services and mechanization, as it is striving to increase mechanization in farms and increase services.
European Union Pros and Cons
Pros: Open borders to Western Europe Economic aid from the European Union A promise of long term prosperity Cons: Short term job losses from a flooding of cheap subsidized food products Small farms may disappear as larger companies move in and overshadow small farms Meeting environmental costs will cost the countries billions in dollars |