From: Exit Staff
Albania Last in Europe for Per Capita Income

Albania has been ranked last in Europe for per capita income and purchasing power, according to newly-published Eurostat data for 2021.

The data shows that Albania had a Gross Domestic Product (GDP) per capita, which is just 32% of the EU average.

Although there was 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, and catching up with the European average within a certain period.

In North Macedonia, for example, the indicator improved from 38% of the EU average to 42% during the same period. Serbia scored 44%, Montenegro 48%, up from 45% and Bosnia and Herzegovina with 33%. Data for Kosovo is not available.

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

According to Eurostat, in 2021, Luxembourg and Ireland recorded the highest GDP per capita in purchasing power parity in Europe, with 168% and 119% above the EU average.

Denmark was third with 33% above the EU average, the Netherlands fourth with 30% above, and Austria and Sweden both with 23% above.

In contrast, Bulgaria was 43% below the EU average, Greece 36% less, and Slovakia 31% less.