The degree of economic development last year in Latvia was the lowest of the 25 member and candidate countries of the European Union and the European Free Trade Assocation, according to figures released June 3 by the EU’s Eurostat service. Luxembourg scored the highest.
In its analysis, the Eurostat survey found that Latvia’s per capita gross domestic product was just 42 percent of the average in the 25 EU member and candidate countries. Estonia’s per capita GDP was 48 percent of the average, while Lithuania was at 46 percent of the average.
The numbers don’t speak to the actual income of households in the countries, Eurostat said in a press release.
Luxembourg topped all nations by recording a per capita GDP that was 208 percent of the average. But Eurostat noted that Luxembourg’s figure “tends to be overestimated, due to the large share of cross-border workers in total employment.” While those workers add to the GDP of the country, they are not considered in the calculation that leads to the per capita GDP. In others words, Luxembourg’s figure most likely is lower than reported.
The three Baltic states and seven other countries officially became members of the EU on in May, expanding the organization from 15 to 25 nations.
Although Latvia’s per capita GDP was low, it was not the lowest in the Eurostat survey, which also included three other countries being considered for EU membership. Bulgaria, Romania and Turkey all scored lower, with Turkey recording a per capita GDP just 27 percent of the EU average.
The Eurostat service is based in Luxembourg.
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