In Serbia, GDP per capita twice as low as in EU

Source: Beta Thursday, 20.06.2024. 08:58
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In Serbia, the gross domestic product per capita is 54% below the EU average, and of the member state, Luxembourg has the highest GDP per capita, and Bulgaria the lowest.

The European Statistical Office Eurostat has announced that the GDP per capita, a measure of economic activity, differs considerably between the EU member states.

In Luxembourg, according to the 2023 data, the GDP per capita is 139% above the EU average, and behind it are Ireland (111%) and the Netherlands (30%).

Another eight countries have a higher GDP per capita than the EU average – Denmark, Austria, Belgium, Germany, Sweden, Finland, Malta and France.

Bulgaria has the lowest GDP per capita, 36% below the EU average, followed by Greece (33%) and Latvia (29%).

The Luxembourg data are partially explained by the fact that numerous foreigners are employed in that country, contributing to its GDP that way, but since they are not its residents, their consumption is recorded on the national accounts of the countries where they have permanent residence.

The high GDP per capita in Ireland can be partially explained by the presence of large international companies which own intellectual property.

The EFTA countries Norway, Switzerland and Iceland also have a higher GDP per capita than the EU average, by 73%, 54% and 34%,

Of the candidate countries, Turkey has the highest GDP per capita, 27% lower than the EU average, followed by Montenegro (48% below the average).

In North Macedonia, the GDP per capita is 59% lower than the EU average, and in Albania and Bosnia and Herzegovina by 65%.

In Serbia, the difference compared to the EU average gradually dropped from 2013, when it was 59%.

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