Purchasing power parities and gross domestic product per capita in purchasing power standards, European countries, 2014 – nowcast

In the therms of AIC per capita in PPS Poland and Slovakia catch up with Slovenia

Actual individual consumption p.c. in purchasing power standards (measure of material well-being of households) in Slovenia decreased for 2 pp in 2014. Gross domestic product p.c. in purchasing power standards (a measure of a country’s economic development) increased for 1 pp in the same period.

  • 16 June 2015 at 10:30
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Eurostat data

The now-cast (preliminary estimate) of actual individual consumption (AIC) and gross domestic product (GDP) per capita in purchasing power standards (PPS) for 2014 was published by Eurostat. Currently, 1 PPS in the EU-28 is equal to 1 euro. 37 countries are currently involved in the survey of the prices of consumer goods, carried out by Eurostat. Interdependence between countries’ results is one of the characteristics of the survey.

Eurostat's now-cast is based on first estimates of purchasing power parities (PPP) for 2014, on population of each country in the same year and on the latest national accounts data of the participating countries involved in the survey. Purchasing power parities (PPPs) are used to translate data from various countries into comparable real values, i.e. values expressed in a single currency and at a uniform price level, which in turn reflect only differences in the volume.

AIC per capita in PPS in Slovenia in 2014 lagged behind the EU-28 average by 26%

AIC is the most important component of GDP and is made up of goods and services actually consumed by individuals. It involves goods and services which are bought and paid for consumption of individuals by households, government or non-profit institutions serving households.

The value of the indicator of AIC per capita is decreasing in Slovenia in recent years. In 2014 it amounted to 74% of the EU-28 average. This means that in 2014 AIC per capita in PPS in Slovenia was behind the EU-28 average by 26% and behind the euro area average by 32%.

In 2014 countries equalized to Slovenia in terms of AIC per capita in PPS were Poland and Slovakia. Quite next to Slovenia were the Czech Republic (75%), Malta (78%) and Lithuania (80%). According to the EU-28 average, AIC per capita in PPS in Slovenia in 2014 compared to 2013 decreased by 2 percentage points.

Slovenian GDP per capita in PPS in 2014 17% lower than the EU-28 average

The indicator GDP per capita in PPS is a measure of a country’s economic development. Slovenian GDP per capita in PPS was rising up to 2008, when it stood at 91% of the EU-27 average (Croatia became a member of the EU in July 2013). In recent years it gravitates around 83 % of EU-28 average.

According to the Eurostat's now-cast, in 2014 Slovenian GDP per capita in PPS was 83% of the EU-28 average. PPP, which is used to translate the data of various countries into the real value, was for Slovenia for 2014 estimated at 0.80 euro/1 PPS. Slovenia’s GDP per capita in purchasing power amounted to 22,600 PPS.

In 2014, GDP per capita in PPS was higher than the EU-28 average in 11 Member States. Average GDP per capita in PPS in the euro area (EA-19) was higher than the EU-28 average by 7%. In 2014, Luxembourg recorded the highest level of GDP per capita in PPS, the second highest level was recorded in Austria. Bulgaria was the Member State with the lowest per-capita GDP.

In 2014 countries close to Slovenia in terms of GDP per capita in PPS were Cyprus, Malta, the Czech Republic, and, Portugal, whose values ​​were 15%-22% below the EU-28 average. According to the EU-28 average, GDP per capita in PPS in Slovenia in 2014 compared to 2013 increased by 1 percentage point.
Chart 1: Actual individual consumption per capita in purchasing power standards, European countries (EU-28=100), 2014
Chart 1: Actual individual consumption per capita in purchasing power standards, European countries (EU-28=100), 2014
Source: Eurostat (http://ec.europa.eu/eurostat, 16. 06. 2015)
When making use of the data and information of the Statistical Office of the Republic of Slovenia, always add: "Source: SURS". More: Copyright.