To main content

Purchasing Power Parities 2020-2022

Swedish households’ Actual Individual Consumption 10 percent above EU average

Statistical news from Statistics Sweden 2023-12-21 8.00

Swedish households’ Actual Individual Consumption (AIC) per capita was 10 percent above the average for the 27 EU countries in 2022.

Actual Individual Consumption in purchasing power standards (PPS), 2022 (EU27=100)

Graph: Actual Individual Consumption in purchasing power standards (PPS), 2022 (EU27=100)

Source: Eurostat and Statistics Sweden

AIC per capita varied in 2022 among the 27 EU Member States, Norway, Iceland, and Switzerland from 38 percent above the EU average to 31 percent below the EU average. Luxembourg tops the list at 38 percent above, followed by Norway, 27 percent above the EU average. However, it should be noted that Norway, Iceland, and Switzerland are not included in the EU average.

Actual Individual Consumption (AIC) and Gross Domestic Product (GDP), volume indices per capita in PPS, 2020, 2021, and 2022 EU27=100
  AIC volume index per capita, EU27=100 GDP volume index per capita, EU27=100
  2020 2021 2022 2020 2021 2022
Luxembourg 139 143 138 260 266 256
Norway 127 127 127 143 168 212
Iceland 120 120 119 118 119 126
Germany 124 120 118 123 119 117
Austria 115 118 118 125 122 124
Switzerland 123 120 117 155 157 159
Netherlands 114 114 116 130 131 130
Belgium 114 115 115 118 120 120
Denmark 121 121 110 133 135 136
Sweden 111 112 110 123 122 119
Finland 114 112 109 114 112 110
France 110 110 107 105 103 100
EU-27 100 100 100 100 100 100
Italy 97 97 100 94 96 97
Cyprus 96 95 97 91 94 94
Ireland 89 91 94 207 221 235
Lithuania 94 96 94 88 89 89
Poland 83 85 87 76 77 79
Portugal 84 84 87 76 75 79
Slovenia 83 86 87 89 90 90
Spain 84 86 86 83 84 86
Romania 81 83 86 73 73 76
Czechia 85 86 83 93 92 90
Malta 81 83 83 99 103 104
Estonia 78 79 78 85 86 85
Greece 75 75 78 62 63 67
Slovakia 76 75 77 74 73 71
Croatia 69 73 76 65 70 73
Latvia 72 74 76 72 71 73
Hungary 70 69 71 74 75 76
Bulgaria 60 64 69 55 57 62

Source: Eurostat and Statistics Sweden Note: The countries are sorted by descending AIC in 2022.

In 2022, Sweden’s GDP per capita in PPS was 19 percent above the EU average. Luxembourg had by far the highest GDP per capita, at 156 percent above the EU average. This high figure is due, in part, to the large proportion of foreign workers in the country, who contribute to GDP, but are not included in the population statistics. The lowest figure recorded in this comparison was 38 percent below the EU average, in Bulgaria.  

Definitions and explanations

Purchasing power parities (PPP) are currency conversion rates that are applied in order to convert economic indicators from national currency to artificial common currency, called Purchasing Power Standard (PPS), which equalises the purchasing power of different national currencies and enables meaningful volume comparison between countries.

PPP is the ratio between the amount in the countries’ domestic currency that is needed to purchase the same basket of goods and services.

GDP is first calculated in the domestic currency and later converted with an artificial currency, Purchasing Power Standard (PPS). GDP per capita adjusted with purchasing power reflects the difference in volume in real terms between countries.

GDP per capita is mainly an indicator of economic activity in a particular country.

Actual Individual Consumption (AIC) refers to all goods and services that are actually consumed by individual households. In international comparisons, AIC is often preferred as an indicator of households’ material welfare.

Eurostat’s publication on Purchasing Power Parities

Purchasing Power Parities - Overview

Next publishing will be

2024-12-20 08:00

Statistical Database

More information is available in the Statistical Database

Feel free to use the facts from this statistical news but remember to state Source: Statistics Sweden.

Statistical agency

Statistics Sweden

Enquiries

Jahnavi Wallin

Telephone
+46 10 479 42 18
E-mail
jahnavi.wallin@scb.se

Martina Sundström

Telephone
+46 10 479 42 51
E-mail
martina.sundstrom@scb.se