Albania remains the poorest in Europe in terms of per capita income and consumption

2022-12-15 12:26:31Biznes SHKRUAR NGA REDAKSIA VOX

Albania remains the poorest in Europe in terms of per capita income and

Albania has continued to be the last in Europe for per capita income even in 2021 and with the lowest purchasing power, thus prolonging the negative record of the well-being of its inhabitants, compared not only to the countries of the European Union, but also other countries of the region.

According to the newly published Eurostat data, in 2021 our country had a Gross Domestic Product (GDP) per capita, 32% of the European Union average.

Although there is a slight improvement of 1 percentage point compared to the previous year, other countries in the region have moved faster in the so-called convergence process, which means growing at a faster rate than the EU, with the aim of catching up with the European average within a certain period.

For example, for North Macedonia the indicator improved from 38% of the EU average to 42% for the same period. For Serbia, the indicator is 44%, for Montenegro 48% (from 45% in 2020). Even Bosnia and Herzegovina ranks ahead of Albania with 33% of the EU average. Data for Kosovo are not available.

In the other indicator, that of Individual Consumption per capita (AIC) which measures consumption according to purchasing power parity and the price level, Albania ranks last, with 39% of the European Union average, the same as last year and much more lower than the average of 48% of candidate countries (excluding Turkey).

While for the indicator of income per capita, the difference with the countries of the region is not very high, in the indicator of individual consumption it deepens, reflecting the low ability of the purchasing power of Albanian citizens for the income they have, related to relatively low prices high in the country (Monitor note).

After Albania is Bosnia Herzegovina with 41%, North Macedonia 51%, Serbia 53%, Montenegro 60%.


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