GDP per inhabitant last year amounted to 35 percent of the EU average

31.07.2024. / 16:34

BRUSSELS – Gross domestic product (GDP) per inhabitant in BiH, expressed in terms of purchasing power, was 35 percent of the EU average last year, according to the results of the European Price Comparison Program.

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The same results show that the actual individual consumption per inhabitant, expressed in terms of purchasing power, was 44 percent of the EU average last year, the BiH Statistics Agency announced.

Luxembourg has by far the highest GDP per capita of all 36 countries included in this comparison, which is more than two and a half times the EU average, and this is partly explained by the fact that a large number of foreign residents are employed in the country and thus contribute to its GDP in, while they are not included in the resident population.

Ireland ranks second among EU members with 111 percent above the EU average, followed by Denmark, the Netherlands, and Austria, each with a GDP per capita greater than 20 percent above the average.

EFTA countries – Norway, Switzerland and Iceland have a level of GDP per capita of 73 percent, 54 percent and 34 percent above the EU average, Belgium, Germany, Sweden, Finland, Malta and France are the remaining members of the Union with a GDP per capita above of the EU average.

Italy, Cyprus, Slovenia and the Czech Republic have a level of GDP per capita less than 10 percent below the EU average, Lithuania, Portugal, Estonia, Poland, Romania and Spain have a GDP per capita between 10 and 20 percent below the Union average.

The GDP per capita of Hungary, Croatia, Latvia, Slovakia and the candidate country Turkey is less than 30 percent below the average, while Greece and Bulgaria have GDP per capita less than 40 percent below the average.

The candidate country Montenegro is 48 percent below the EU average, followed by the candidate countries Serbia, North Macedonia, BiH and Albania.

In addition to the 27 EU members, three EFTA members, candidate countries for EU membership – Turkey, Montenegro, Serbia, North Macedonia BiH and Albania are also included in the analysis.