Tuesday, 24 April 2018
Work needed on Croatian GDP Work needed on Croatian GDP

Croatian GDP way below European average

By  Jun 15, 2017

According to the latest Eurostat report on the Average Individual Consumption (AIC) and GDP in the EU, Croatia is way below the EU average.

This report presents the most recent analysis of purchasing power parities and related economic indicators (gross domestic product (GDP) per capita, level of actual individual consumption (AIC) per capita, countries' price level indices) in the European Union and some other countries for 2013, 2014, 2015 and 2016, but focusing primarily on the latest reference year.

The countries included in the comparison are the 28 EU member countries, three EFTA member countries (Iceland, Norway and Switzerland), five EU candidate countries (Montenegro, the former Yugoslav Republic of Macedonia, Albania, Serbia and Turkey) and one potential candidate (Bosnia and Herzegovina).

The latest data show that in 2016, Ireland recorded the second highest level of GDP per capita in the EU-28, at 77 percent above the EU average, with only Luxembourg at a higher level (167 percent above the EU average). Bulgaria was the member country with the lowest GDP per capita, at 52 percent below the EU average. As far as Croatia is concerned, last year the country was 41 percent below the EU average in terms of GDP per capita, same as Romania.

Levels of actual individual consumption were somewhat more homogeneous, but still showed significant differences across Europe. Luxembourg recorded the highest level of AIC per capita in the EU-28, at 32 percent above the EU average, whilst Croatia was at 41 percent below the EU average. Once again, Bulgaria hit the bottom of the list at 47 percent below the EU average in terms of AIC per capita.

In addition, the highest price level among the EU member countries was observed in Denmark, at 39 percent above EU-28 average.

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