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Luxembourg has highest EU GDP per capita; 6.5 times Bulgaria

Tuesday, June 21st 2011 - 21:35 UTC
Full article 9 comments
Measured in PPSP Luxembourg stands with 283 and Bulgaria, 43 Measured in PPSP Luxembourg stands with 283 and Bulgaria, 43

Luxembourg is by far the richest country in the European Union in terms of GDP per capita, more than six times more affluent than the 27-nation bloc's poorest member Bulgaria, data showed.

The European Union's statistics office Eurostat said GDP per capita measured in purchasing power standard (PPS) was 283 in Luxembourg in 2010, against the Euro zone average of 108 and 43 for Bulgaria.

The wealth of the Grand Duchy is partly due to the large number of people from neighbouring France, Germany and Belgium who work, but do not live in Luxembourg, therefore contributing to GDP but not being counted for the division of the wealth.

The Netherlands was the second richest country in the EU, with GDP per capita less than half of Luxembourg's at 134 PPS and Denmark, Ireland and Austria came in third with 125 PPS.

Ireland used to be second richest in the EU after Luxembourg in 2007 with GDP per capita of 147, but fell to third place in 2008 and 2009 as the crisis of its banking sector and in the real estate market took its toll.

Wealth in Greece, struggling to regain market trust and competitiveness through austerity and reforms after years of overspending, declined sharply to 89 PPS in 2010 from 94 in 2008 and 2009.

GDP per capita in the United States was 146 PPS in 2009 – the last year for which data is available and 145 in Switzerland.

Central and eastern European countries remained at the bottom of the wealth table – Romania was second poorest with 45 PPS, Latvia third from the bottom with 52, Lithuania fourth with 58 and the region's biggest country, Poland, fifth poorest with 62 PPS per capita.

The Purchasing Power Standard (PPS) is an artificial currency unit that eliminates price level differences between countries. One PPS buys the same volume of goods and services in all countries.

The unit allows meaningful volume comparisons of economic indicators across countries. Aggregates expressed in PPS are derived by dividing aggregates in current prices and national currency by the respective Purchasing Power Parity (PPP).-
 

Categories: Economy, International.

Top Comments

Disclaimer & comment rules
  • briton

    how can Ireland be third, she has just been bailed out, ??
    we gave her 3 billion, so where did the UK come,?? [anyone ]

    Jun 21st, 2011 - 10:38 pm 0
  • Marcos Alejandro

    What do you think?
    May be things are going so bad for UK that is not even in the chart anymore, or maybe the British talk so much about their colony in Argentina- South America so they not even consider UK part of Europe anymore..hmmmm

    Jun 22nd, 2011 - 01:01 am 0
  • NicoDin

    @ briton
    “so where did the UK come,?? [anyone ]”

    Well seems Ukistan is not even among the top 35 richer countries in the world and going even poor.
    Sad very sad.
    country::::: GDP - per capita (PPP)

    1 Qatar $ 179,000

    2 Liechtenstein $ 141,100

    3 Luxembourg $ 82,600

    4 Bermuda $ 69,900

    5 Singapore $ 62,100

    6 Jersey $ 57,000

    7 Norway $ 54,600

    8 Brunei $ 51,600

    9 A Emirates $ 49,600

    10 Kuwait $ 48,900

    11 US $ 47,200

    12 Andorra $ 46,700

    13 Hong Kong $ 45,900

    14 Guernsey $ 44,600

    15 Cayman I $ 43,800

    16 Gibraltar $ 43,000

    17Switzerland $ 42,600

    18 Australia $ 41,000

    19 Austria $ 40,400

    20 Netherlands $ 40,300

    21 Bahrain $ 40,300

    22 Canada $ 39,400

    23 Sweden $ 39,100

    24 V. Islands $ 38,500

    25 Iceland $ 38,300

    26 Belgium $ 37,800

    27 Ireland $ 37,300

    28 Guinea $ 36,600

    29 Denmark $ 36,600

    30 Greenland $ 36,500

    31 San Marino $ 36,200

    32 Taiwan $ 35,700

    33 Germany $ 35,700

    34 Finland $ 35,400

    36 I Man $ 35,000

    Jun 22nd, 2011 - 06:06 am 0
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