News Local Cyprus' individual consumption per capita at 92% of EU average

Cyprus’ individual consumption per capita at 92% of EU average

Actual Individual Consumption (AIC) per capita in Cyprus stood at 92%of the EU average in 2017  while  GDP per capita stood at 84%, according to figures issued by Eurostat on Tuesday.

Actual Individual Consumption (AIC) is a measure of the material welfare of households. Based on first preliminary estimates for 2017, AIC per capita expressed in Purchasing Power Standards (PPS) varied from 55% to 130% of the EU average across the Member States. Ten Member States recorded AIC per capita above the EU average in 2017.

The highest level in the EU was recorded in Luxembourg, 30% above the EU average. Germany and Austria were around 20% above, followed by the United Kingdom, Finland, Belgium, Denmark, the Netherlands, France, and Sweden which all recorded levels between 9% and 14% above the EU average.

AIC per capita for twelve Member States lay between the EU average and 25% below. In Italy, Ireland and Cyprus the levels were 10% or less below the EU average, while Spain, Lithuania, Portugal and the Czech Republic were between 10% and 20% below. Malta, Greece, Slovenia, Poland and Slovakia were between 20% and 25% below the average.

Six Member States recorded AIC per capita about 30% or more below the EU average. Estonia, Latvia and Romania were around 30% below, while Hungary and Croatia had AIC per capita just under 40% below the EU average and Bulgaria was 45% below.

Gross Domestic Product (GDP) per capita, a measure of economic activity, also shows substantial differences between the EU Member States.

In 2017, GDP per capita expressed in PPS ranged between 49% of the EU average in Bulgaria to 253% in Luxembourg. Eleven Member States recorded a level of GDP per capita above the EU average in 2017.

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