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Luxembourg has highest level of GDP per capita

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Staff writer ▼ | June 17, 2016
In 2015, Ireland recorded the second highest level of GDP per capita in the EU-28, at 45% above the EU average, with only Luxembourg at a higher level.
Dublin
Economies in Europe   The dispersion in GDP per capita
Bulgaria was the Member State with the lowest per-capita GDP, at 54% below the EU average, according to Eurostat. 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 37% above the EU average. The highest price level among the EU Member States was observed in Denmark, at 37% above EU-28 average.

The dispersion in GDP per capita across the EU Member States is quite remarkable. Luxembourg has by far the highest GDP per capita among all the 37 countries included in this comparison, being more than two and a half times above the EU-28 average.

One particular feature of Luxembourg's economy which to some extent explains the country's very high GDP per capita is the fact that a large number of foreign residents are employed in the country and thus contribute to its GDP, while at the same time they are not included in the resident population.

Ireland comes out second among the EU Member States, at 45% above the EU-28 average followed by the Netherlands and Austria at around 30% above that average.

The EFTA Member States Norway and Switzerland have a higher level of GDP per capita, more than 60% above the EU-28 average. Bulgaria records the lowest level of this indicator among the EU Member States.

Other EU Member States with a GDP per capita of more than 20% above the EU-28 average are Germany, Denmark and Sweden together with the EFTA Member State Iceland, while Belgium has a level of GDP per capita just below 20% above the average.

The United Kingdom, Finland and France show GDP per capita levels of up to 10% above the average.

Italy and Spain are at GDP per capita of less than 10% below the EU-28 average followed by Malta, the Czech Republic, Slovenia and Cyprus with a GDP per capita of less than 20% below the EU-28 average. The GDP per capita of Portugal, Slovakia, Estonia, Lithuania and Greece is less than 30% below that average.

They are followed by Poland, Hungary and Latvia with a GDP per capita of less than 40% below the average. The EU Member States Croatia and Romania followed by the candidate country Turkey have a GDP per capita of less than 50% below the EU-28 average while the EU Member State Bulgaria is placed at 54% below the EU average.

The candidate country Montenegro has a GDP per capita at around 60% below the EU-28 average followed by the other candidate countries the former Yugoslav Republic of Macedonia, Serbia and Albania with a level of GDP per capita between 60% and 70% below the EU-28 average. The potential candidate country Bosnia and Herzegovina is placed at 71% below the EU-28 average.

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