France Slips Below EU Average for Third Year Running, Now Trails Cyprus in Per Capita Wealth

France, historically one of Europe's heavyweight economies, has continued its relative slide within the European Union, with fresh Eurostat data confirming it now ranks below the EU average in GDP per capita for the third consecutive year.

According to the latest figures (covering 2024, expressed in purchasing power standards — PPS — with the EU average indexed at 100), France recorded 98, placing it just below the bloc's midpoint. This marks a further erosion from previous years and positions France behind Cyprus, which posted 99 in the same metric.

The development underscores France's entry into what analysts describe as the EU's "second tier" — a group of economies hovering around or slightly below the average, distinct from the leading high-performers such as Luxembourg (around 245), Ireland (221), the Netherlands, and Denmark.

For comparison:

• Germany stands at approximately 116
• Italy and Spain remain in a similar band to France (around 98 and 91, respectively)
• Greece, while still significantly lower at 69, has shown gradual stabilization in recent Eurostat updates, though it remains among the lowest in the bloc alongside Bulgaria (66) and Latvia (68)

Sensational commentary in various European outlets has gone so far as to characterize France's trajectory as approaching "third-world status" or entering an "infernal downward spiral," echoing concerns over structural challenges, high public debt, sluggish productivity growth, and competitiveness pressures. However, France retains very high absolute living standards, advanced infrastructure, and robust public services that place it far above global developing-nation benchmarks.

The data aligns with broader Eurostat trends showing a reordering among southern and western European economies, where countries like Cyprus have edged ahead in certain per-capita measures thanks to stronger recent performance in tourism, services, and investment inflows.

Critics argue the figures reflect long-term policy rigidities in France, while defenders highlight that actual individual consumption (AIC) levels — a closer proxy for household welfare — remain above the EU average in France (around 106), cushioning the GDP decline's impact on everyday living standards.

The shift continues to fuel debate across the EU about convergence, competitiveness, and the effectiveness of national economic models in an era of slower bloc-wide growth.