Comparison of price levels in Europe, 2014

There are still large variations in the GDP per capita price level-adjusted figures for countries in Europe. Topping the list is Luxembourg, with GDP 163 per cent above the EU-28 average. Luxembourg’s high GDP per capita is due to the high percentage of the country’s workforce living in neighbouring countries who contribute to the GDP but are not included in the resident population.

West Balkan less than 60 per cent below EU average

At the bottom of the list are the five non-EU members in West Balkan; Bosnia-Herzegovina, Albania, Serbia, Macedonia and Montenegro. These countries have GDP per capita around 60-70 per cent below the EU average.

Same GDP per capita for Germany, Sweden and Denmark

Norway and Switzerland came closest to Luxembourg in the comparison, with GDP per capita (price level-adjusted) at 79 and 61 per cent above the average in the 28 EU countries. Ireland, the Netherlands and Austria followed with GDP per capita between 32 and 28 per cent above the EU average. Germany, Denmark and Sweden had the same GDP per capita in 2014; 24 per cent above the (EU-28) average.

The results are based on the latest GDP figures for 2014 and the latest PPP survey from Eurostat. The results for 2014 are updated in December of that year.