1. Denmark
MDC
free market economic system
$258.7 billion GDP
$45,700 per capita
HDI Ranking: 4
agriculture: 1.1%
industry: 23.3%
services: 75.7%
Exports: machinery and instruments, meat and meat products, dairy products, fish, pharmaceuticals, furniture, windmills
Imports: machinery and equipment, raw materials and semimanufactures for industry, chemicals, grain and foodstuffs, consumer goods
2. Estonia
MDC
free market economic system
$37.55 billion GDP
$28,600 per capita
HDI Ranking: 31
agriculture: 3.5%
industry: 27.7%
services: 68.8%
Exports: machinery and electrical equipment 34%, food products and beverages 9%, mineral fuels 9%, wood and wood products 10%, metals 7%, furniture 9%, vehicles and parts 6%, chemicals 5%
Imports: machinery and electrical equipment 28 %, mineral fuels 11%, food and food products 10%, vehicles 9%, chemical products 8%, metals 8%
3. Finland
MDC
free market economic system
$225 billion GDP
$41,100 per capita
HDI Ranking: 23
agriculture: 2.5%
industry: 26.8%
services: 70.6%
Exports: electrical and optical equipment, machinery, transport equipment, paper and pulp, chemicals, basic metals; timber
Imports: foodstuffs, petroleum and petroleum products, chemicals, transport equipment, iron and steel, machinery, computers, electronic industry products, textile yarn and fabrics, grains
4. Iceland
MDC
free market economic system
$15.15 billion GDP
$46,100 per capita
HDI Ranking: 16
agriculture: 5.8%
industry: 20.7%
services: 73.5%
Exports: fish and fish products 40%, aluminum, animal products, ferrosilicon, diatomite (2010 est.)
Imports: machinery and equipment, petroleum products, foodstuffs, textiles
5. Ireland
MDC
free market economic system
$257.4 billion GDP
$55,500 per capita
HDI Ranking: 6
agriculture: 5%
industry: 11%
services: 84%
Exports: machinery and equipment, computers, chemicals, medical devices, pharmaceuticals; foodstuffs, animal products
Imports: data processing equipment, other machinery and equipment, chemicals, petroleum and petroleum products, textiles, clothing
6. Latvia
MDC
free market economic system
$49.08 billion GDP
$24,700 per capita
HDI Ranking: 46
agriculture: 8.8%
industry: 24%
services: 67.2%
Exports: foodstuffs, wood and wood products, metals, machinery and equipment, textiles
Imports: machinery and equipment, consumer goods, chemicals, fuels, vehicles
7. Lithuania
MDC
free market economic system
$82.36 billion GDP
$28,400 per capita
HDI Ranking: 37
agriculture: 7.9%
industry: 19.6%
services: 72.5%
Exports: refined fuel, machinery and equipment, chemicals, textiles, foodstuffs, plastics
Imports: oil, natural gas, machinery and equipment, transport equipment, chemicals, textiles and clothing, metals
8. Norway
MDC
free market economic system
$356.2 billion GDP
$68,400 per capita
HDI Ranking: 1
agriculture: 2.7%
industry: 18.3%
services: 79%
Exports: petroleum and petroleum products, machinery and equipment, metals, chemicals, ships, fish
Imports: machinery and equipment, chemicals, metals, foodstuffs
9. Sweden
MDC
free market economic system
$473.4 billion GDP
$47,900 per capita
HDI Ranking: 14
agriculture: 1.8%
industry: 33.8%
services: 64.4%
Exports: machinery 35%, motor vehicles, paper products, pulp and wood, iron and steel products, chemicals
Imports: machinery, petroleum and petroleum products, chemicals, motor vehicles, iron and steel; foodstuffs, clothing
10. United Kingdom of Great Britain and
Northern Ireland
MDC
free market economic system
$2.679 trillion GDP
$41,200 per capita
HDI Ranking: 14
agriculture: 0.7%
industry: 19.4%
services: 80%
Exports: manufactured goods, fuels, chemicals; food, beverages, tobacco
Imports: manufactured goods, machinery, fuels; foodstuffs
Effects of the European Union
One of the major effects that the European Union has on Northern European countries is through trade. One of the EU’s main goals is to remove trade barriers between other EU countries. This is a major advantage as it allows Northern European countries to freely trade with each other and benefit from it. Another major benefit of the EU is that the citizens of the countries in the EU are able to freely move between different countries, allowing for people to take their businesses to different countries relatively conveniently. One disadvantage of the European Union is that in some ways it takes the power away from the federal government. It also serves the interests of the entire region as a whole and not the interests of the individual countries themselves. Overall, the EU influences the nations in it in positive and negative ways.
MDC
free market economic system
$258.7 billion GDP
$45,700 per capita
HDI Ranking: 4
agriculture: 1.1%
industry: 23.3%
services: 75.7%
Exports: machinery and instruments, meat and meat products, dairy products, fish, pharmaceuticals, furniture, windmills
Imports: machinery and equipment, raw materials and semimanufactures for industry, chemicals, grain and foodstuffs, consumer goods
2. Estonia
MDC
free market economic system
$37.55 billion GDP
$28,600 per capita
HDI Ranking: 31
agriculture: 3.5%
industry: 27.7%
services: 68.8%
Exports: machinery and electrical equipment 34%, food products and beverages 9%, mineral fuels 9%, wood and wood products 10%, metals 7%, furniture 9%, vehicles and parts 6%, chemicals 5%
Imports: machinery and electrical equipment 28 %, mineral fuels 11%, food and food products 10%, vehicles 9%, chemical products 8%, metals 8%
3. Finland
MDC
free market economic system
$225 billion GDP
$41,100 per capita
HDI Ranking: 23
agriculture: 2.5%
industry: 26.8%
services: 70.6%
Exports: electrical and optical equipment, machinery, transport equipment, paper and pulp, chemicals, basic metals; timber
Imports: foodstuffs, petroleum and petroleum products, chemicals, transport equipment, iron and steel, machinery, computers, electronic industry products, textile yarn and fabrics, grains
4. Iceland
MDC
free market economic system
$15.15 billion GDP
$46,100 per capita
HDI Ranking: 16
agriculture: 5.8%
industry: 20.7%
services: 73.5%
Exports: fish and fish products 40%, aluminum, animal products, ferrosilicon, diatomite (2010 est.)
Imports: machinery and equipment, petroleum products, foodstuffs, textiles
5. Ireland
MDC
free market economic system
$257.4 billion GDP
$55,500 per capita
HDI Ranking: 6
agriculture: 5%
industry: 11%
services: 84%
Exports: machinery and equipment, computers, chemicals, medical devices, pharmaceuticals; foodstuffs, animal products
Imports: data processing equipment, other machinery and equipment, chemicals, petroleum and petroleum products, textiles, clothing
6. Latvia
MDC
free market economic system
$49.08 billion GDP
$24,700 per capita
HDI Ranking: 46
agriculture: 8.8%
industry: 24%
services: 67.2%
Exports: foodstuffs, wood and wood products, metals, machinery and equipment, textiles
Imports: machinery and equipment, consumer goods, chemicals, fuels, vehicles
7. Lithuania
MDC
free market economic system
$82.36 billion GDP
$28,400 per capita
HDI Ranking: 37
agriculture: 7.9%
industry: 19.6%
services: 72.5%
Exports: refined fuel, machinery and equipment, chemicals, textiles, foodstuffs, plastics
Imports: oil, natural gas, machinery and equipment, transport equipment, chemicals, textiles and clothing, metals
8. Norway
MDC
free market economic system
$356.2 billion GDP
$68,400 per capita
HDI Ranking: 1
agriculture: 2.7%
industry: 18.3%
services: 79%
Exports: petroleum and petroleum products, machinery and equipment, metals, chemicals, ships, fish
Imports: machinery and equipment, chemicals, metals, foodstuffs
9. Sweden
MDC
free market economic system
$473.4 billion GDP
$47,900 per capita
HDI Ranking: 14
agriculture: 1.8%
industry: 33.8%
services: 64.4%
Exports: machinery 35%, motor vehicles, paper products, pulp and wood, iron and steel products, chemicals
Imports: machinery, petroleum and petroleum products, chemicals, motor vehicles, iron and steel; foodstuffs, clothing
10. United Kingdom of Great Britain and
Northern Ireland
MDC
free market economic system
$2.679 trillion GDP
$41,200 per capita
HDI Ranking: 14
agriculture: 0.7%
industry: 19.4%
services: 80%
Exports: manufactured goods, fuels, chemicals; food, beverages, tobacco
Imports: manufactured goods, machinery, fuels; foodstuffs
Effects of the European Union
One of the major effects that the European Union has on Northern European countries is through trade. One of the EU’s main goals is to remove trade barriers between other EU countries. This is a major advantage as it allows Northern European countries to freely trade with each other and benefit from it. Another major benefit of the EU is that the citizens of the countries in the EU are able to freely move between different countries, allowing for people to take their businesses to different countries relatively conveniently. One disadvantage of the European Union is that in some ways it takes the power away from the federal government. It also serves the interests of the entire region as a whole and not the interests of the individual countries themselves. Overall, the EU influences the nations in it in positive and negative ways.