Analytics, Economics, Estonia, EU – Baltic States, GDP

International Internet Magazine. Baltic States news & analytics Tuesday, 26.05.2020, 12:07

Estonia's GDP per capita is 77% of EU average

BC, Tallinn, 20.06.2018.Print version
Estonia's gross domestic product (GDP) per capita expressed in purchasing power standards (PPS) last year made up 77% of the average European Union rate, compared to 75% in 2016, the indicator was lower in seven member states and the same as Estonia's in two other member states, cites LETA/BNS.

The indicator was lowest in Bulgaria with 49% and Croatia with 61%. Hungary, Romania, Latvia, Poland and Greece were also below Estonia's 77%. On equal standing with Estonia were Slovakia and Portugal and Lithuania closely exceeded Estonia with 78%, it appears from data published by Eurostat.

Even though GDP per capita in Estonia is below the EU average, it has been strongly approaching the average over the years -- for example, the indicator for Estonia stood at 64% in 2010 and 54% when joining the EU in 2004. The improvement of Estonia's position is also reflected in the recent EU 2021-2027 budget period proposals, as the regions within the range of 75-90% are considered as so-called transition regions, for which support is allocated somewhat less.

Altogether 11 member states had a higher GDP per capita in PPS than the EU average -- those countries included Luxembourg, Germany, Austria, the United Kingdom, Finland, Belgium, Denmark, the Netherlands, France, Sweden and Ireland.

Estonia was sixth from the bottom in terms of the rate of actual individual consumption (AIC) per capita expressed in PPS.

If the average individual consumption rate of the 28 member states of the EU is considered as 100%, the individual consumption of the residents of Estonia was 72%, that is unchanged compared to 2016. Below Estonia's AIC per capita rate were Latvia, Romania, Hungary, Croatia and Bulgaria.

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