Western Europe Analysis

REGIONAL ANALYSIS CHECKLIST

WESTERN EUROPE

1. Name all the countries in the region

a. Give a brief economic history (past 50 years) of each country

France:

- One of the members who helped the creation of the European Economic Community (EEC) in 1957.

- In January 2002, the Euro replaced the Franc, currency that had been in circulation since 1360.

- Past two decades France has gone through a period of privatization.

- 4th largest exporter of services in the world.

- 5th largest exporter of good to the world.

- The majority of its exports go to Germany.

http://www.economist.com/countries/France/profile.cfm?folder=Profile-FactSheet

http://news.bbc.co.uk/2/hi/europe/country_profiles/999717.stm

Germany:

- Germany, along with six other nations helped create the original European Economic Community (EEC) in 1957.

- Germany has become one of the strongest political and economic powers after suffering two World Wars.

- After reconstruction, Germany has solidified with a very stable economy and achieving trade surplus and currently holding the spot of the world’s leading exporter.

- In 2006, the number of unemployed in Germany fell below 4 million. First time the number of unemployed is reached in 4 years.

http://www.economist.com/countries/Germany/profile.cfm?folder=Profile-FactSheet

http://news.bbc.co.uk/2/hi/europe/country_profiles/1053880.stm

Italy:

- Italy is another of the six nations to have signed the initial document that would pave the way for European integration.

- Italy is the 4th largest economy of the European Union.

- The country suffered in the manufacturing industry in the mid 90’s but has recovered from the fall.

- In 2002, the Euro replaces the Italian Lira.

http://www.economist.com/countries/Italy/profile.cfm?folder=Profile-FactSheet

http://news.bbc.co.uk/2/hi/europe/country_profiles/1065897.stm

Spain:

- In 1986, Spain joined the EEC

- In 2002, the Euro replaced the Peseta

- 16th exporter in the world

- 12th importer of the world

http://www.economist.com/countries/Spain/profile.cfm?folder=Profile-FactSheet

http://news.bbc.co.uk/2/hi/europe/country_profiles/992004.stm

http://www.answers.com/topic/economy-of-spain?cat=travel

United Kingdom

- Britain joined the European Community (now the EU) in 1973

- Has the 5th largest economy in the world

- 2nd largest economy in Europe after Germany

- London is one of three major financial centers in the world

http://www.economist.com/countries/Britain/profile.cfm?folder=Profile-FactSheet

http://news.bbc.co.uk/2/hi/europe/country_profiles/1038820.stm

http://www.answers.com/topic/economy-of-the-united-kingdom?cat=biz-fin

b. Describe the natural resources of the region.

France:

- Rich agricultural land

- Tourism from beaches, rivers, forests, and mountains

- Hydroelectric production, but inadequate for its needs

- Other: Coal, iron ore, bauxite, zinc, uranium, antimony, arsenic, potash, feldspar, fluorspar, gypsum, timber, fish

http://lcweb2.loc.gov/frd/cs/profiles/France.pdf

Germany:

- Coal is the major natural resource that Germany possesses

- Other: Lignite, natural gas, iron ore, copper, nickel, uranium, potash, salt, construction materials, timber, arable land

http://lcweb2.loc.gov/frd/cs/profiles/Germany.pdf

Italy:

- Italy’s major natural resource is natural gas

- Other: Coal, mercury, zinc, potash, marble, barite, asbestos, pumice, fluorspar, feldspar, pyrite (sulfur), crude oil reserves, fish, arable land

http://www.answers.com/Economy+of+Italy?cat=travel

Spain:

- Coal, lignite, iron ore, copper, lead, zinc, uranium, tungsten, mercury, pyrites, magnesite, fluorspar, gypsum, sepiolite, kaolin, potash, hydropower, arable land

United Kingdom:

- Coal, petroleum, natural gas, iron ore, lead, zinc, gold, tin, limestone, salt, clay, chalk, gypsum, potash, silica sand, slate, arable land

https://www.cia.gov/library/publications/the-world-factbook/fields/2111.html

c. List GDPs by country.

GDP (PPP) GDP (Real Growth Rate)

France: $ 2,067,000,000,000 1.8% (2007 est.)

Germany: $ 2,833,000,000,000 2.6% (2007 est.)

Italy: