From MaltaMedia.com

Malta places 18th in EU wealth league
By MaltaMedia News
Jun 4, 2004, 11:33

Malta placed 18th among the European Union Members States in the league of the wealthiest according to the country's Gross Domestic Product per capita, scoring 73 against an EU25 average of 100. While Luxembourg is the richest and Latvia the poorest, Malta places third among the new Member States that became members on the 1st May, according to Eurostat.

GDP per capita in Luxembourg, expressed in terms of purchasing power standards (PPS), was more than twice the EU25 average in 2003, while Ireland was about one third above average, and Denmark, Austria, the Netherlands and the United Kingdom around 20% above average. Belgium, Sweden and France were about 15% above average, and Finland, Germany and Italy were around 10% above the EU25 average.

Spain was 5% below the EU25 average, and Cyprus about 15% below. Greece, Slovenia, Portugal and Malta were between 20% and 30% below average. The Czech Republic was around 30% below average and Hungary about 40% below. Slovakia was just above half the average, while Estonia, Lithuania, Poland and Latvia all recorded figures between 40% and 50% of the EU25 average.

Eurostat explained that GDP, and thus per capita GDP, are indicators of a country's total production and expenditure, and are therefore a way of measuring and comparing the degree of economic development of countries. GDP is not synonymous with the income ultimately available to private households in a country.



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