Latvia sees low rankings in per-person consumption rates
In a recent analysis of the European Union's (EU) economic performance, key findings were revealed regarding the GDP per capita and Actual Individual Consumption (AIC) per capita for various member states in 2024.
When comparing GDP per capita, Luxembourg emerged as the frontrunner with a staggering 242% of the EU average, followed closely by Ireland and The Netherlands, both exceeding the EU average by 211% and 136% respectively. On the lower end of the spectrum, Bulgaria, Greece, and Latvia were found to have GDP per capita levels significantly below the EU average, at 66%, 70%, and 71% respectively.
The AIC per capita, a measure that provides insights into consumer well-being, demonstrated a more diverse picture. Luxembourg's AIC per capita was 41% above the EU average, while The Netherlands was 20% above. In contrast, Bulgaria and Estonia had AIC per capita levels 26% below the EU average.
It is worth noting that the exact method or criteria used to calculate the AIC per capita was not specified. However, the data revealed that nine EU countries, including Luxembourg, The Netherlands, and Germany, had an AIC per capita above the EU average in 2024.
When looking at GDP per capita, the analysis showed that ten EU countries, in addition to Luxembourg, Ireland, and The Netherlands, had a GDP per capita above the EU average in the unspecified year. One of these countries, Hungary, had a GDP per capita that was 28% below the EU average. The specific GDP per capita data for the other seven EU countries that were above the EU average in the unspecified year was not provided.
The data also showed a notable gap between the highest and lowest GDP per capita levels in the EU, highlighting economic disparities among member states. However, the dispersion has decreased over time, with the highest GDP per capita being about 4 times that of the lowest in 2023, compared to 6 times in 2013.
This comparison provides a valuable snapshot of the economic landscape within the EU, offering insights into areas of strength and areas that require attention. As policymakers continue to navigate the complexities of the EU economy, these findings will undoubtedly inform their strategies and decisions moving forward.
The media reported on the European Union's (EU) economic performance analysis, indicating that Luxembourg led with a GDP per capita of 242% of the EU average, followed by Ireland and The Netherlands, both exceeding the EU average at 211% and 136% respectively. In terms of media finance and business, this analysis also outlined the AIC per capita, with Luxembourg at 41% above the EU average and The Netherlands at 20% above, contrasting with Bulgaria and Estonia, which had AIC per capita levels 26% below the EU average.
