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Eurostat: GDP per capita decreases in Cyprus

12 December, 2013

In the period of 2010-2012 the goss domestic product (GDP) per capita expressed, in purchasing power standards (PPS) and the actual individual consumption (AIC) per capita has decreased in Cyprus, while in Greece it marked a significant shrinkage due the economic crisis.

According to the data released by Eurostat, the statistical office of the European Union, the GDP per capita in Cyprus was 92 in 2012, 94 in 2011 and 97 in 2010. In Greece the GPD per capita were 88 in 2010, 80 in 2011 and 75 in 2012.

As regards AIC per capita, in Cyprus it was 100 in 2010, 99 in 2011 and 97 in 2012.

Eurostat said on Thursday that in 2012 the GDP per capita in Luxembourg, expressed in PPS, was more than two and a half times the EU28 average. But this is an exception: Austria, Ireland, the Netherlands, Sweden, Denmark, Germany and Belgium were between 20% and 30% above the average, while Finland was 15% above average. France, the U.K. and Italy were between the average and 10% above.

Spain and Cyprus were between the EU28 average and 10% below, while Malta, Slovenia and the Czech Republic were between 10% and 20% below. Slovakia, Portugal, Greece, Lithuania and Estonia were between 20% and 30% below the average, while Poland, Hungary, Latvia and Croatia were between 30% and 40% below. Romania and Bulgaria were around 50% below the average.

PPS is an artificial currency unit that eliminates price level differences between countries. Thus, one PPS buys the same volume of goods and services in all countries.