According to Eurostat, in 2023 gross domestic product (GDP) per capita, expressed in terms of purchasing power parity, ranged from 64% of the EU average in Bulgaria to 240% in Luxembourg. The figures are expressed in PPS, which removes the difference between price levels at the country level, allowing comparisons of GDP or GDP per capita between countries.

It should be noted that the index, calculated on the basis of PPS indicators and expressed in relation to the EU-27=100, is intended for comparisons between countries, and not for time comparisons.

Data published by Eurostat show significant differences in GDP per capita between EU countries. Luxembourg and Ireland had the highest levels (140% and 112% above the EU average respectively), well ahead of the Netherlands (30% above the EU average), Denmark (+28%) and Austria (+23%).

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

Operational estimates for 2023 presented in this article are based on GDP and population data for 2023 as of 03/11/2024 and the most recent data available. Revised grades will be published in June 2024.

Luxembourg: Luxembourg’s high GDP per capita is partly due to the high share of cross-border workers in total employment. Although they contribute to GDP, these workers are not counted as part of the resident population used to calculate GDP per capita.

Ireland: Ireland’s high GDP per capita can be partly explained by the presence of large multinational companies based there. The production associated with these assets contributes to GDP, while a significant portion of the income from this production is returned to the ultimate owners of the companies abroad.