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Eurostat: Greece Below EU Average GDP Per Capita

According to latest Eurostat release, Greece remains below the average of the EU both in terms of GDP/capita and Actual Individual Consumption. AIC is a new indicator, which is more reflective of the real economic situation of individuals that GDP/capita. The “richest” country in the EU is Luxembourg and the “poorest” one is Bulgaria.

Luxembourg has almost three times higher GDP/capita  than the EU average. This is because a lot of employees who work and produce in Luxembourg live in surrounding countries, thus they are not counted as citizens of Luxembourg. On the contrary, Bulgaria has a ratio of 45% of the EU average. Greece has 80% of the EU average, with Malta having a bit more and the Czech Republic following Greece. The other non-EU European countries differ substantially. Norway has 189% higher ratio than the EU average, making it the second richest after Luxembourg and the richest of the non-EU European countries. Switzerland and Ireland are also above the EU average. Turkey, FYROM, Serbia, Croatia, Albania, Bosnia-Herzegovina and Montenegro are way under the EU average, with Bosnia-Herzegovina having only a third of the EU’s average. The Euro zone stands on average only 7% higher than the EU average.

Source: (European Commission, Eurostat)

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