What is BiH’s GDP in Comparison to EU Member States?

December 17, 2019 12:00 PM

 

The results of the European comparison program of prices and GDPs showed that BiH`s GDP per inhabitant in PPS for 2018 amounted to 31% of the EU 28 average while the actual individual consumption per inhabitant in PPS for the same year amounted to the 41% of the EU 28 average.

The countries included in this analysis are, in addition to the 28 EU Member States, three EFTA Member States (Norway, Switzerland and Iceland,) the EU Candidate Countries (Turkey, Montenegro, Serbia, North Macedonia and Albania), as well as Potential Candidate Country (Bosnia and Herzegovina).

Luxembourg had the highest Actual Individual Consumption per inhabitant in PPS and it was 34% above the EU – 28 average.

Germany, Austria, Denmark, Belgium, Netherlands, United Kingdom and Finland, had Actual Individual Consumption per inhabitant in PPS between 10% and 20% above the EU – 28 average, according to BiH’s Agency for Statistics.

Sweden and France had Actual Individual Consumption per inhabitant about 10% above, the EU – 28 average.

Italy, Ireland, Cyprus, Spain, Lithuania, Portugal, Czech Republic and Malta constitute a group of countries whose level of Actual Individual consumption is below the EU – 28 average, ranging from 2% to 20%.

Slovenia, Greece, Poland, Estonia, Slovakia and Romania were between 20% and 30% below the EU – 28 average.

Latvia, Croatia, Hungary and Bulgaria were between 30% and 60% below the EU – 28 average.

EFTA countries were between 20% and 30% above EU – 28 average.

Candidate countries were between 30% and 60% below EU – 28 average.

Bosnia and Herzegovina recorded in 2018 Actual Individual Consumption per inhabitant in PPS 59% below the EU – 2– average.

While GDP per capita is mainly used indicator reflecting the level of well-being, it is not the only one. Actual Individual Consumption (AIC) per inhabitant is an alternative indicator better adapted to describe the material welfare situation of households. Generally, levels of AIC per inhabitant are more homogenous than those of GDP but still there are substantial differences across the Member States.

 

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