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Poland is already richer than Portugal

Poland is already richer than Portugal

Eurostat has released new figures for GDP per capita, but it is expressed in purchasing power parity. For the first time in this ranking, Poland overtook Portugal, reaching 77 percent. EU average.

We are also behind countries like Greece, Hungary, Romania, Croatia, Slovakia and Bulgaria, which are the poorest in the ranking. However, the Czech Republic and Lithuania ranked higher.

Luxembourg tops the list with 277 percent. EU average. Followed by Ireland, Denmark, the Netherlands and Sweden.

Eurostat survey 2021

press material

Countries such as Germany, France and Austria are also above the EU average. A little lower – Italy or Malta.

However, it is worth emphasizing that this is not a classic comparison of GDP per capita.

The rest of the article is available under the video

So what is the purchasing power parity index? They are indicators of the level of price differences between countries. It tells you the cost (expressed in currency units) for specific goods and services in different countries.

However, according to many economists, this indicator actually tells us more about the wealth of societies than classic comparisons of GDP per capita. They do not take into account, for example, price differences in individual countries.

See also: New data from the labor market. This is what we do compared to the European Union

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