Greece's Household Welfare and Economic Activity Among Lowest in EU, Eurostat Data Reveals

Recent data on purchasing power parities (PPP) reveals significant variations in actual individual consumption (AIC) per capita across the EU, highlighting material welfare disparities among member states in 2023.

AIC, which includes all goods and services used by households regardless of who pays for them, serves as an indicator of household material welfare.

In 2023, AIC per capita ranged from 70% to 138% of the EU average among the 27 EU countries. Greece, however, was among the 17 EU countries with AIC per capita below the EU average. The lowest levels of AIC per capita were recorded in Hungary (30% below the EU average), Bulgaria (27%), Slovakia, and Latvia (both 25%).

The data also revealed disparities in gross domestic product (GDP) per capita, a key measure of economic activity. Luxembourg and Ireland led the EU with GDP per capita significantly above the EU average, at 139% and 111% respectively. In contrast, Greece recorded one of the lowest GDP per capita figures, at 33% below the EU average, only slightly better than Bulgaria (36% below the EU average) and Latvia (29%).