Actual Individual Consumption expressed in Purchasing Power Standards in Cyprus stood at 94%

December 14, 2019 at 10:53am
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Actual Individual Consumption (AIC, a measure of material welfare of households) expressed in Purchasing Power Standards (PPS) varied from 56% of the European Union (EU) average in Bulgaria to 134% in Luxembourg. In Cyprus this rate was 94%.

Ten Member States recorded AIC per capita above the EU average in 2018. The highest level in the EU was recorded in Luxembourg, 34% above the EU average, ahead of Germany (20% above). They were followed by Austria, Denmark, Belgium, the Netherlands, the United Kingdom, Finland, Sweden and France with levels of 7 to 17% above the EU average.

AIC per capita for 14 Member States lay between the EU average and 30% below. In Italy, Ireland, Cyprus and Spain the levels were 10% or less below the EU average, while Lithuania, Portugal, the Czech Republic and Malta were between 10% and 20% below. Slovenia, Greece, Poland, Estonia, Slovakia and Romania were between 20% and 30% below the average.

Four Member States recorded AIC per capita more than 30% below the EU average. Latvia, Croatia and Hungary were between 30% and 40% below, while Bulgaria had AIC per capita more than 40% below the EU average.

Over the last three years, AIC per capita relative to the EU average remained relatively stable in a majority of Member States. However, clear increases have been registered in Romania (71% of the EU average in 2018 compared with 65% in 2016), Slovakia (73% vs. 68%) and Lithuania (89% vs. 85%).

In contrast, the most noticeable decreases were recorded in Sweden (108% in 2018 vs. 112% in 2016) and France (107% vs. 110%).

In 2018, GDP per capita expressed in PPS ranged between 51% of the EU average in Bulgaria and 261% in Luxembourg. In Cyprus GDP per capita was 89%.

(Cyprus News Agency)