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Europe is the world's second-smallest continent by surface area, covering about 10,180,000 square kilometres (3,930,000 sq mi) or 2% of the Earth's surface and about 6.8% of its land area. Of Europe's approximately 50 states, Russia is the largest by both area and population, while the Vatican City is the smallest. Europe is the third most populous continent with a population of 731 million or about 11% of the world's population.
As a continent, the economy of Europe is currently the largest on Earth and it is the richest region as measured by assets under management with over $32.7 trillion compared to North America's $27.1 trillion. The European Union, an intergovernmental body composed of 27 European states, comprises the largest single economic area in the world.
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