BUSINESS

Per capita GDP slides further away from EU

DIMITRA MANIFAVA

TAGS: Economy

Greece’s per capita gross domestic product last year came to just 67 percent of the European Union average, according to Eurostat’s provisional estimates, shedding one percentage point from 2016.

Private consumption in Greece is also stagnant at low levels, standing 23 percent below the EU average and 27 percent under the eurozone mean rate.

Greece is the only old EU member-state to score such a low figure, standing alongside the newer entries from Eastern Europe. In real consumption terms Greek households rank 19th, below countries such as Lithuania and the Czech Republic. In GDP terms Greece slides even lower, to the 24th spot among 28 countries, along with Latvia.

Within a decade, from 2008 to 2017, per capita GDP in Greece declined by 26 percentage points of the EU average, as in 2008 it had stood at 93 percent. Real private consumption slid 27 percentage points, as in 2008 it had been 4 percent above the bloc’s mean rate (at 104 points).
 

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