The difference in economies, however, is huge. If the European economy has big players such as Germany, it also has small economies such as Kosova, which has a GDP per capita as low as $2,300. Geographically, the economies in the west perform better than economies in the east.
Europe was the first continent to go through the industrial revolution and therefore all of the heavy machinery industries are located in Europe and dominate the world. Germany is a prime example, with its automobile industry having dominated the world markets for long.
The most beneficial move for the continent was the formation of the European Union, which collectively is the world’s largest economy. Europe is the richest region in the world, with over $32.7 trillion as compared to $27.1 trillion in North America.