Purchasing power in Estonia 35 percent below EU average ({{commentsTotal}})

Eurostat published its most recent analysis of purchasing power parities and related economic indicators in the EU and some other countries today.

The results show that whereas Estonia's GDP in 2013 was 27 percent below the EU average, the Actual Individual Consumption (AIC) per capita, which indicates the real material welfare of households, was 35 percent below the EU average.

These factors are perhaps best put into context when compared with Latvia and Lithuania. In Latvia, the AIC per capita was at the same level as in Estonia. Latvia's GDP, however, was 9 percentage points smaller than Estonia's 73 percent. Lithuania had the same GDP as Estonia, but its consumption indicator was much higher, only 22 percent below EU average, as the price level in Lithuania is much lower than in Estonia.

The highest AIC per capita in the EU was recorded in Luxembourg, 36 percent above the EU average. Germany and Austria were also 20 percent or more above the average.

The only EU countries lagging behind Estonia in material welfare of households were Latvia, Hungary, Croatia, Romania and Bulgaria.



Opinion
Easter Monday a public holiday? But you're forgetting productionEaster Monday a public holiday? But you're forgetting production
Estonia’s Easter Monday time loop: Discussing an additional day off

Every year, Estonia reliably asks itself the question whether or not Easter Monday should be made a public holiday. Opinions differ. While one side emphasizes the importance of family time, the other thinks an additional day off would threaten economic growth.

Minister of Social Protection Kaia Iva (IRL).Minister of Social Protection Kaia Iva (IRL).
Samost: Kaia Iva’s charisma could help IRL out of long-term low

In Sunday’s “Samost ja Rumm” radio debate show, editor-in-chief of ERR’s online news, Anvar Samost, and journalist and former politician Hannes Rumm discussed the potential and actual candidates for the chairmanship of the Pro Patria and Res Publica Union (IRL). At the time of the broadcast, Helir-Valdor Seeder had not yet made his intention to run public.