Grouping of Eu Countries According to the Level of Economic Development and Stability of Economic Processes Based on Abc-Xyz-Analysis

Abstract

The study of economic development and the stability of economic processes of countries is a critically important task, as it helps to understand and analyze the processes taking place in the economic systems of countries. Countries differ significantly in terms of economic development, and their grouping according to certain parameters helps to better understand the general picture of the economic state of the country. The article proposes to group EU countries according to the level of economic development and the level of the economic processes’ stability based on GDP and GDP per capita indicators using ABC and XYZ analysis. The study was conducted on the basis of the countries of the European Union (EU) for the period 2015-2022 since the EU is a large regional association of countries with common economic, political and social goals. The statistical data of the World Bank served as the information base. The existence of discrepancies for countries between the level of GDP and the level of GDP per capita was revealed. Ukraine was also ranked according to the level of economic development and the level of the economic processes’ stability based on GDP and GDP per capita indicators since this country is a candidate for EU membership in 2022. The results of the study will help to understand the mosaic of the economic situation in different EU countries and highlight key conclusions for further research or decision-making. This information can be useful for understanding the main trends in the economy of the European region, identifying possible areas for cooperation and investment, as well as for developing strategies to improve development and stability in each of the EU countries.