Economic notes

I can spend hours by researching latest GDP data on World DataBank to later import them to Google Spreadsheets and make some graphs, diagrams or charts. In fact, posts about minimum wages in European Union member countries are one of the most read on this blog. Minimum wages, average wages, GDP, different World regions are just a few to name topics covered in Economic notes by Reinis Fischer.

This is already third annual article covering minimum wage and its disproportion among 22 of 28 European Union member countries. Feel free to browse through the archives for previous years, before proceeding, see: 2016, 2015, 2014 #mc_embed_signup{background:#fff; clear:left; font:14px Helvetica,Arial...
According to the World Bank Gross Domestic Product (GDP) of World in 2015 was 73,502 Trillion USD. More than half (48.77 Trillion USD) of it was produced in the TOP 10 largest economies of the World.  In this article we will figure out and name those TOP 10 economies, as well compare some historical data, but before that - there...
About two years ago I first compared average monthly salary in Former Soviet Union Republics. Now, two years later, I decided to compare again. I was surprised after seeing results. Let me explain. First - call it as you wish - major world economic crisis, sanctions against Russia, better integrated or worst integrated parts...
In today's article - Life expectancy in European Union (EU).  Life expectancy equals the average number of years a person born in a given country expected to live if mortality rates at each age were to remain steady in the future. In following table I have listed the life expectancy separately for males and females, as...
My previous two articles about average salaries in European Union (EU) member countries turned out to be one of the most popular on blog so far, I would even call them killer articles.  #mc_embed_signup{background:#fff; clear:left; font:14px Helvetica,Arial,sans-serif; width:100%;} /* Add your own MailChimp...
April 1st marks my five year anniversary since I opted to move to this amazing country on the edge where East meets West - Republic of Georgia. Today, to celebrate this small anniversary I decided to take a look back - to see economic developments in Georgia 2011-2016 - how things how changed since I first landed at Tbilisi airport...
In 2016 there were 22 out of 28 European Union member states with official minimum wage set by government. #mc_embed_signup{background:#fff; clear:left; font:14px Helvetica,Arial,sans-serif; width:100%;} /* Add your own MailChimp form style overrides in your site stylesheet or in this style block. We recommend moving...
After reviewing minimum and average salaries in member states of European Union, I decided to take a look on US average wages -  and compare all 50 American States + D.C. It was easier to come up with idea than actually get data, as it turns out in US they prefer more count household income rather per-capita. So the...
There has been some positive improvements for rise of minimum wage in all three Baltic states (Estonia, Latvia and Lithuania) in recent years. And there are more to come. In 2016 minimum wage is set to rise in all Baltic states. Estonia will have minimum wage of EUR 430; Latvia - EUR 370 and Lithuania - EUR 350. Here are my...
My previous post about average salary in European Union for 2014 generated some buzz on social networks (Facebook, Reddit, Twitter) and on other websites, in total it has generated more than 15,000 page views. I decided to compare how does average salary have changed a year latter. And I found following; Average median salary has ...
A year ago I created a blog post about minimum wages in European Union in 2014, that post generated a lot of views (more than 20,000 page views) and some buzz (got shared on Facebook, Reddit and many other websites) #mc_embed_signup{background:#fff; clear:left; font:14px Helvetica,Arial,sans-serif; width:100%;} /* Add...
In past I have created many GDP reviews regarding former Soviet Union republics, but have never made future GDP forecast report yet. In this article that's exactly what I'm doing. Now, Soviet Union doesn't exist for more than 25 years already. Those former 15 republics have gone more or less separate way since dissolution of USSR....
Governments across the former Soviet Union have felt the impact of currency devaluations, but currency depreciations and related economic problems in Georgia and Moldova are exposing their governments to major political pitfalls this year, including even potential government collapse. Both countries have been pursuing greater integration...
On 27 January, ProCredit Bank held a press conference to announce its performance results for 2014 and to reveal its new strategies. After 15 years in the banking sector, the bank is changing its strategy to focus on small and medium business clients and will stop offering micro loans below EUR 10,000 and will sell the 5% of its...
January 1st, 2015 is a historic day for a Baltic nation - Lithuania is changing it currency to Euro, following Latvia (2014) and Estonia (2011).Starting today - there are 19 countries in Euro zone. Here is the article I found on BBC by Zivile KropaiteSome Lithuanians fear price rises, but opinion polls point to growing optimism...
A year ago I wrote an article covering minimum wages in Baltic States. In that article I found that minimum wages for 2013/2014 were at: EUR 330 Estonia, EUR 320 Latvia and EUR 290 in Lithuania. Now - 2015 will be a special year - starting 2015 all three Baltic countries will have Euro as currency, Lithuania will adopt Euro starting...
Did you now that 9% of Worlds GDP in 2013 was made thanks to tourism and related services?It turns out that every 1 of 11 employees is employed in tourism sector. Tourism industry in 2013 generated $1.4 trillions in export, what is about 6% of Worlds export and pretty serious 29% of services export.World Tourism Organization (Image...
A time ago I measured what is the minimum government set wage in European Union (EU). It turned out - the most minimum wage is received in Luxembourg while the least in Romania. In today's article - average salary in EU for the year of 2014. Update: See latest update on average salary in EU: Average Salary in European...
A while ago I already compared Baltic nations with Caucasian nation by GDP (that time I was comparing data for 2012). Since it's second half of 2014 already, I decided to compare how 6 independent states looks alike in 2013 (Most recent data we can get from World Bank) Some might argue - why I'm comparing those regions? Well - why not?...
Some time ago I did a comparison of minimum government set wages in Former Soviet Union republics. Today, I decided to figure out - what is the average salaries in those republics. I must admit, it was harder to gather data about average salaries, than gathering data for minimum wages. Seems governments are not eager to share such data...
Last year I started pay more attention to the TOP 10 largest economies in the World by terms of Gross Domestic Product. It's time to compare them again. Gross Domestic Product in TOP 10 Largest Economies 2013 Rank Country 2012 2013 Growth bln $ Growth % 1 United States 16,244 16,800...
Last year I red an excellent article pointing out that income level in Estonia could reach level its in Scandinavia in next 10-15 years. Although this article made me smile, I decided to compare - is it real for Estonia to reach level like that? Since its almost a year since  I wrote that article - I decided to compare again...
Probably few will be heard of African Union - Union that "unites" countries in Africa's continent. This Union has been created a while ago actually in 2001. The African Union consists of 54 countries (52 states and 2 Kingdoms). Although African Union is not so integrated so closely like European Union, with common parliament, money e.t....
BRICS is the acronym of 5 developing countries - Brazil, Russia, India, China and South Africa. Originally created as BRIC, the South Africa was added in 2010 to this economical group.  BRICS countries with 3 trillion population represents about 40% of Worlds population and is awaited (by some) to have about 40% of world economy by...
Yesterday a power outage happened in Tbilisi, and whole country of Georgia was cut of electricity. According to official information - power outage was caused by fault in 500 KV  line. I'm not an expert in electricity, and I'm not familiar with it's everyday terminology - well, I know how to change a bulb, and that there is...
European Union if looked at it as a whole solid brick economy - could be named as a Worlds largest economy by GDP. But European Union still consists of 28 independent countries. I won't discuss in this article about  - are they really independent, or how dependent National Parliaments are on Brussels,  but I will look at GDP in...
It has been already 24 years since collapse of Soviet Union, an empire that once threatened all the rest world with it's mighty military. Although military tough - economical weak.Or I was taught in school - USSR was military giant but economical midget. Well, long are those days of Mighty Soviet Union, what's leftover? Russia and 14...
European Union consist of 28 member states. Some would say  - Europe is United. Is it so? Let's figure out, who lives better and who not.    2012 2013 Change $ Growth % Luxembourg 103859 111162 7303 6.569691081 Denmark 56364 58930 2566 4.354318683...
Soviet Union once was a mighty empire that threatened all the rest world, it has been already 24 years since Soviet Union doesn't exist any more, what's left - free market economies stretching from Baltic sea to Bering straight. In total there are 15 FSU republics in over days. Some of them (Baltic states) has found a new ally with EU,...
Minimum wage is set by government minimum standard of guaranteed income (hourly/monthly) that worker should receive for work he/she performs. In 2014, there were 22 countries out of 28 in European Union, which had their national minimum wages set. Update: For a complete list with minimum wages in EU for 2017, please visit: Minimum...