21535_not-searchable
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21535
High Norwegian material prosperity
statistikk
2008-06-26T10:00:00.000Z
Prices and price indices
en
ppp, Comparison of price levels in Europe, gross domestic growth, volume index, personal consumption, price level adjusted GDP, price level index, EU countries, EEA countries, international comparisonsConsumer prices , Prices and price indices
false

Comparison of price levels in Europe, 2007

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High Norwegian material prosperity

In 2007 Norway had the second highest GDP per capita in Europe, according to figures recently released by Eurostat.

GDP per capita is often used as an estimate of the material prosperity of a country. In 2007 GDP per capita in Norway was 84 per cent above the average of the 27 EU countries (EU27). Luxembourg comes out on top in the comparison. Other countries standing out with a high GDP per capita is Ireland, Switzerland, Netherlands, Iceland, Austria, Sweden and Denmark.

Lower GDP per capita in eastern countries

The relatively "new" EU member countries in Eastern Europe in general come out with a lower GDP per capita than western countries. Romania and Bulgaria comes out with the lowest GDP per capita in the survey, about 60 per cent below the average. Poland, Latvia and Lithuania also apparently have a low prosperity level. In these countries GDP per capita is 40-50 per cent below average. Czech Republic and Slovenia are exceptions, both with results close to the western level.

Volume indices for GDP per capita, price level adjusted. Preliminary estimates 2007. EU27=100
  GDP per capita, price level adjusted
Albania 22
FYROM 29
Serbian Republic 35
Bulgaria 38
Romania 41
Turkey 42
Poland 54
Croatia 55
Latvia 58
Lithuania 60
Hungary 63
Slovakia 69
Estonia 72
Portugal 75
Malta 77
Czech Republic 82
Slovenia 89
Cyprus 93
Greece 98
Italy  101
Spain  107
France  111
Germany  113
Finland  116
United Kingdom  116
Belgium  118
Denmark  123
Sweden  126
Austria  128
Iceland  129
Netherlands  131
Switzerland  137
Ireland  146
Norway  184
Luxembourg  276
Source:  Eurostat.

Gross Domestic Product (GDP) shows the total value of production and manufacturing activity in a country. GDP includes the added values of all market-oriented business activities, as well as public administration, non-profit institutions and production for own final use. GDP per capita is often used as an estimate of material prosperity of a country. The results in this article show GDP per capita, adjusted using purchasing power parities. This ensures that differences in price levels among countries are taken into account. These first estimates are based on the latest National Accounts data for 2007 and the most recent extrapolations of the purchasing power parities calculated within the framework of the European Comparison Programme .

Read Eurostat's press release.