Estonia's purchasing power sixth weakest in EU ({{commentsTotal}})

Euros and U.S. dollars.
Euros and U.S. dollars. Source: (Reuters/Scanpix)

In 2016, Estonia ranked sixth from the bottom among EU member states for actual individual consumption (AIC), a measure of the material welfare of households, according to data published by Eurostat on Tuesday.

Based on first preliminary estimates for 2016, AIC per capita expressed in purchasing power standards (PPS) varied from 53 percent to 132 percent of the EU average across member states.

The ratio for Estonia was 71 percent, an increase of two percent from 2015.

Countries lagging behind Estonia were Latvia at 67 percent, Hungary and Romania at 63 percent, Croatia at 59 percent and Bulgaria at 53 percent.

The ratio for Lithuania was 86 percent, putting the country in 15th place among EU member states.

Ten member states recorded AIC per capita above the EU average in 2016. The highest level in the EU was recorded in Luxembourg, at 32 percent above the EU average, with Germany and Austria coming in at approximately 20 percent above, followed by the U.K., Denmark, Finland, Belgium, France, the Netherlands and Sweden, which all recorded levels between 10 and 15 percent above the EU average.

GDP per capita, a measure of economic activity, also illustrated substantial differences between EU member states. In 2016, GDP per capita expressed in PPS ranged between 48 percent of the EU average in Bulgaria to 267 percent in Luxembourg, whose GDP per capita exceeds the EU average by 167 percent.

11 member states recorded a level of GDP per capita above the EU average in 2016, while Estonia recorded a ratio of 74, Latvia 65 and Lithuania 75 percent of the EU average. The bottom three consisted of Romania and Croatia with 59 percent and Bulgaria with 48 percent of the EU average.

Eurostat's full report can be read online here.

Editor: Aili Vahtla

Source: BNS

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