In this article, we will discuss the 16 largest countries in Europe by area. If you want to skip our analysis, you can proceed to the section highlighting the 5 Largest Countries in Europe by Area.
Economy of Europe: An Analysis
According to a report by the IMF, the European economy grew by 1.3% in 2023 and is expected to grow by 1.5% in 2024. Advanced economies are forecasted to grow from 0.7% to 1.2%, while emerging European economies are expected to experience a more pronounced growth, rising from around 1% to approximately 3%. Growth momentum slowed down in 2023, compared to 2.7% in 2022 as the region's potential is hindered by ongoing geopolitical conflicts such as Russia's war in Ukraine which has sparked energy crises, disrupted supply chains, raised production costs, fueled inflation, and reduced productivity. Energy-intensive and manufacturing-oriented economies, such as Germany and Hungary are the most affected. International trade restrictions are expected to reduce global economic output by up to 7% over the long term, which is about $7 trillion.
In Hungary, inflation reached 25% at the end of 2022, and prices increased by 41% cumulatively from end-2020 to August 2023. While inflation is decreasing now, it's anticipated to reach target levels only by 2025 in several countries, and possibly even later in some countries, extending to 2026. Meanwhile, nominal wages are experiencing rapid growth, surpassing inflation rates in certain economies, notably in Eastern Europe.
On January 30, Reuters reported that the Eurozone's economy stagnated in 2023, underperforming the rest of the world and narrowly avoiding a recession. Germany, a key player, faced industrial challenges which contributed significantly to the region's underperformance. Economic data revealed a 0.3% contraction in Germany during Q4 2023. This marked the sixth consecutive quarter with no or minimal growth. Germany's reliance on cheap Russian energy and extensive two-way trade with China suffered disruptions due to geopolitical events. Despite robust growth in the United States, the Eurozone's largest trading partner, the region struggled to match global economic momentum.
Major Players in the European Market
Some of the major players among the companies driving growth in Europe are LVMH Mo?t Hennessy - Louis Vuitton, Société Européenne (OTC:LVMUY), Mercedes-Benz Group AG (ETR:MBG), and Airbus SE (EPA:AIR).
LVMH Mo?t Hennessy - Louis Vuitton, Société Européenne (OTC:LVMUY) is a French multinational conglomerate, headquartered in Paris. It is one of the largest luxury goods retailers globally operating over 6,500 stores and has an extensive portfolio of luxury brands including Louis Vuitton, Christian Dior, Bvlgari, Tiffany & Co, Sephora, and Fendi. On January 25, LVMH Mo?t Hennessy - Louis Vuitton, Société Européenne (OTC:LVMUY) reported a revenue of $93.26 billion and a net profit of $16.45 billion for the year 2023, up 13% and 8% respectively from the previous year. LVMH Mo?t Hennessy - Louis Vuitton, Société Européenne (OTC:LVMUY) is a Creative Partner of the Olympic and Paralympic Games Paris 2024. On February 8, LVMH unveiled the design of the medals for the Olympic and Paralympic Games Paris 2024 with iconic symbols of Paris and France, made with iron from the Eiffel Tower. Bernard Arnault, Chairman and CEO of LVMH, commented:
“Our performance in 2023 illustrates the exceptional appeal of our Maisons and their ability to spark desire, despite a year affected by economic and geopolitical challenges. The Group once again recorded significant growth in revenue and profits. Our growth strategy, based on the complementary nature of our businesses, as well as their geographic diversity, encourages innovation, high-quality design and retail excellence, and adds a cultural and historical dimension thanks to the heritage of our Maisons. This was reflected in Louis Vuitton and Christian Dior’s spectacular fashion shows, Tiffany’s reopening of “The Landmark” in New York and the ever-growing popularity of Sephora’s store concept worldwide. 2023 also saw us make progress in several key areas that are essential components of our long-term vision: protecting the environment, developing our talent, and preserving and passing on our expertise. While remaining vigilant in the current context, we enter 2024 with confidence, backed by our highly desirable brands and our agile teams. It promises to be an inspiring, exceptional year for us all, featuring our partnership with the Paris 2024 Olympic and Paralympic Games, whose core values of passion, inclusion and surpassing oneself are shared by our Group. For LVMH, it provides a new opportunity to reinforce our global leadership position in luxury goods and promote France’s reputation for excellence around the world.”
Mercedes-Benz Group AG (ETR:MBG), formerly known as Daimler AG, is a premier luxury automotive brand known for its innovative craftsmanship and iconic design. On February 22, 2024, Mercedes-Benz Group AG (ETR:MBG) reported that it sold 2.49 million units and generated a revenue of $165.72 billion for the year 2023, up from $162.26 billion in 2022. Electric vehicles were a booster for Mercedes-Benz Group AG (ETR:MBG), with a 73% increase in fully electric cars in 2023. Mercedes-Benz has expanded its electric vehicle lineup to include the eCitan, EQT, eVito, eVito Tourer, EQV, and eSprinter, offering all models in electric versions. Looking ahead, the company plans to introduce the VAN.EA, an all-electric van in 2026 for both private and commercial needs. Mercedes-Benz Group AG (ETR:MBG) is building its own charging network and plans to install more than 10,000 charging points in core markets by the end of 2030. Commenting on the annual results Mercedes-Benz Group AG’s Chief Executive Officer Ola Kaellenius said:
“Mercedes-Benz continued its transformation in 2023, developing new cutting-edge electric and digital innovations, while scaling electric vehicles and delivering solid financial results. In other words, the team once again came through to execute our strategy in challenging times, delivering the eSprinter and the new E-Class. At the same time, we prepared the ground for next-generation products and platforms like VAN.EA and MB.OS. to keep Mercedes-Benz at the forefront of the industry.”
Airbus SE (EPA:AIR) is one of the world's largest manufacturers of airliners and also one of the leading helicopter manufacturers. On February 15, Airbus SE (EPA:AIR) reported that it delivered 735 commercial aircraft in 2023, up from 661 in 2022. These deliveries include 68 A220s, 571 A320 Family, 32 A330s, and 64 A350s aircraft. Helicopter deliveries remained stable at 346 units from 344 units in 2022. Revenue for the year 2023 increased 11% year on year to $71.04 billion as aircraft activities increased 15%, representing higher deliveries. In 2024 Airbus SE (EPA:AIR) expects to deliver around 800 aircraft. On March 8, Airbus SE (EPA:AIR) announced a collaboration with SKYCO International Financial Leasing Co. Ltd., a state-owned enterprise in China for support services and setting up industrial cooperation to develop general aviation. Moreover, Airbus SE (EPA:AIR) signed an agreement to sell six H175 helicopters to SKYCO International Financial Leasing Co. Ltd. The H175 helicopter, manufactured by Airbus SE (EPA:AIR), falls within the super-medium category, it has an extended range and payload capacity with smooth flight characteristics. This makes it an ideal choice for various onshore and offshore missions such as disaster relief, search and rescue missions, public services, crew transport, and private and business aviation needs.
The economic landscape in Europe remains challenging, with projections indicating slower growth amidst geopolitical tensions. However, there are also signs of resilience, with nominal wages outpacing inflation rates in certain Eastern European economies, indicating a more stable and prosperous future. With that said, here is the list of the 16 largest countries in Europe by area.
To make our list of the top 16 largest countries in Europe by area, we utilized the latest data from The World Factbook by the Central Intelligence Agency (CIA). We then compiled a list of the countries that are the largest in Europe by area. Here are the top 16 largest countries in Europe by area ranked in ascending order.
Note: We added Russia to our rankings because its area in Europe is one of the largest compared to other European countries.
16 Largest Countries In Europe By Area
16. Iceland
Total Area (sq. km): 103,000
Iceland is situated in the North Atlantic Ocean and has 2,750 square kilometers of water area. Iceland is known for its volcanic terrain, geothermal hot springs, glaciers, and scenic coastlines. Despite its small population, its economy is modern, and the standard of living is comparable to that of other European nations.
15. Bulgaria
Total Area (sq. km): 110,879
Bulgaria is located in Southeast Europe and has 2,390 square kilometers of water area, including the Danube River. Bulgaria has diverse landscapes ranging from mountainous terrain to fertile plains and sandy beaches. Bulgaria is known for its rich history and ancient civilizations.
14. Greece
Total Area (sq. km): 131,957
Greece is situated in southeastern Europe and has 1,310 square kilometers of water area. Greece has an ancient civilization, rich history, and cultural heritage, including iconic landmarks such as the Acropolis in Athens and the ruins of Delphi.
13. Belarus
Total Area (sq. km): 207,600
Belarus is a landlocked country located in Eastern Europe. Belarus gained independence in 1991 from the USSR and has closer political and economic ties with Russia than any of the other former Soviet republics. Since 2022 Belarus has facilitated Russia's war in Ukraine. Belarus has a water area of 4,700 square kilometers, including numerous rivers and lakes.
12. Romania
Total Area (sq. km): 238,391
Romania is located in southeastern Europe and has 8,500 square kilometers of water area, including the Danube River. Romania's geography is diverse and picturesque. The country is known for its historic castles, medieval towns, and stunning landscapes, including the Carpathian Mountains and the Danube Delta. Romania has a significant coastline on the Black Sea.
11. United Kingdom
Total Area (sq. km): 243,610
The United Kingdom, comprising England 53%, Scotland 32%, Wales 9%, and Northern Ireland 6%, covers a total area of 243,610 square kilometers including Rockall and the Shetland Islands. The United Kingdom has a water area of 1,680 square kilometers, including iconic landmarks like Loch Ness and the River Thames.
10. Italy
Total Area (sq. km): 301,340
Italy is famous for its art, history, and cuisine, Italy spans a total area of 301,340 square kilometers including the islands of Sardinia and Sicily. Italy has 7,200 square kilometers of water area. Italy is also home to one of the largest populations in Europe.
9. Poland
Total Area (sq. km): 312,685
Poland is located in Central Europe and has 8,430 square kilometers of water area. Poland is known for its rich history, medieval architecture, and cultural heritage. Poland has one of the largest populations in Europe.
8. Norway
Total Area (sq. km): 323,802
Norway has some of the most breathtaking landscapes in the world. Norway has 19,520 square kilometers of water body. Norway has one of the lowest population densities in Europe and is known for its mountains, forests, and scenic lakes.
7. Finland
Total Area (sq. km): 338,145
Finland, often called the "Land of a Thousand Lakes," has 34,330 square kilometers of water area. Finland also has one of the lowest population densities in Europe.
6. Germany
Total Area (sq. km): 357,022
Germany is known as the economic and cultural powerhouse of Europe. Germany has 8,350 square kilometers of water area, including major rivers like the Rhine and the Elbe. Germany's landscape varies from the North German Plains to the Bavarian Alps. Germany has one of the largest populations in Europe.