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Albania, no step forward! Last in Europe again for per capita income

2022-06-21 10:33:28Biznes SHKRUAR NGA REDAKSIA VOX

Albania, no step forward! Last in Europe again for per capita income

With 32% of the European average, Albania remains last in Europe for per capita income for 2021, according to the latest data published by Eurostat (data do not include Kosovo).

Bosnia and Herzegovina has a per capita income of 33% of the EU average, while Northern Macedonia has 10 percentage points higher than Albania (42), Serbia 44 and the record in the region is held by Montenegro, with 47 %.

In the other indicator, that of individual consumption per capita, which measures the purchasing power of the citizens of a country and their material well-being, Albania is again last, with 39% of the European average. Bosnia has this indicator 41%, Northern Macedonia 49%, Serbia 52% and Montenegro 60%.

For years, Albania has not been able to grow faster than its neighbors or other EU countries, stalling in the so-called convergence process, or faster growth in order to catch within a certain period the average of the European Union.

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In 2021, nine Member States recorded individual consumption (AIC) per capita above the EU average. Luxembourg (46%) was the only member state to record AICs per capita 25% or more above the EU average. In Denmark, Germany, the Netherlands, Belgium, Austria, Sweden, Finland and France, levels were 10% or more above the EU average.

In thirteen Member States, the per capita AIC was between the EU average and 25% below. In this category, there were significant differences across Member States: in Italy, Lithuania, Cyprus and Ireland, levels were 10% or less below the EU average, while Slovenia, Spain, Czech Republic, Poland, Portugal, Malta and Romania were between 11% and 20% below. Estonia and Greece were 21% and 23% below the EU average, respectively.

Five member states recorded AICs per capita 25% or more below the EU average. Croatia, Latvia, Hungary and Slovakia were between 27% and 30% below, while Bulgaria recorded AIC per capita 37% below the EU average.

GDP per capita ranged from 55% of EU average in Bulgaria to 277% in Luxembourg

Gross Domestic Product (GDP) per capita, a measure of economic activity, also shows substantial differences between EU Member States.

In 2021, GDP per capita expressed in PPS varied between 55% of the EU average in Bulgaria and 277% in Luxembourg. Ten member states recorded a level of GDP per capita above the EU average in 2021. 

Albania, no step forward! Last in Europe again for per capita income


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