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.
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.
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
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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.