Eurostat: Albania’s GDP per capita drops below Bosnia, Kosovo

At 2,904 euros in 2013, Albania’s GDP per capita was lower even compared to potential candidates Kosovo and Bosnia and Herzegovina and at only 11 percent of the EU 27.
TIRANA, Dec. 9 – Albania’s GDP per capita, an indicator of the standard of living, dropped to 2,904 Euros in 2013, the lowest level in the past seven years and the poorest among enlargement countries, according to data published by Eurostat, the statistical office of the European Union.
At 2,904 euros in 2013, Albania’s GDP per capita was lower even compared to potential candidates Kosovo and Bosnia and Herzegovina and at only 11 percent of the EU 27.
GDP per capita in 2013 in the enlargement countries varied from Euro 2904 in Albania, to Euro 2,935 in Kosovo, Euro 3,509 in Bosnia and Herzegovina, Euro 3,726 in Macedonia, Euro 4,453 in Serbia and Euro 8,131 in Turkey. Montenegro’s GDP per capita in 2012 was estimated at 5,063 euros.
Eurostat estimates that Albania’s GDP dropped to 1.4 percent in 2013, registering the poorest growth among the seven Balkan enlargement countries after having growing by an average of 2.8 percent in the 2009-2012 period when it was one of the best performers.
At around 8.4 billion euros in 2013, Albania which has a population of around 2.9 million people had a higher GDP compared to Kosovo, Macedonia and Montenegro which have smaller populations.
Albania’s GDP per capita, a measure of economic activity, and the actual individual consumption, an indicator of the material welfare of households, ranks among the poorest in Europe, at almost a third of the EU 28, according to the latest Eurostat data.
Albania’s GDP per capita expressed in purchasing power standard, an artificial currency unit that eliminates price level differences between countries, was at 28 percent of the EU 28 in 2013, ranking the lowest in the region.
Meanwhile, Albania’s actual individual consumption per capita in PPS was at 33 percent of the EU 28 in 2013, ranking Albania on the bottom of a 37-country list which includes 28 EU member states, three EFTA members, four EU candidate countries and two potential candidate countries.
While Albania has one of Europe’s lowest GDP per capita, price levels for consumer goods and services are also among the lowest in 37 European countries, according to a recent report published by Eurostat, the statistical office of the European Union.
At 51 percent of the EU 28, Albania’s price level indices for consumer goods and services in 2013 was higher only compared to Macedonia’s 47 percent and Bulgaria’s 48 percent in a 37-country list which includes 28 EU member states, three EFTA members, four EU candidates and two potential candidate countries. The results reconfirm that Albania is one of the cheapest countries to live in across Europe although it has the lowest wages in the Balkans.
Price levels for consumer goods and services among EU candidates and potential candidates in the region varied from 47 percent in Macedonia, to 53 percent in Bosnia and Herzegovina, 54 percent in Serbia, 56 percent in Serbia and 64 percent in Turkey.
Albania’s lowest price levels are reported in alcoholic beverages and tobacco and restaurants and hotels at 42 percent of the EU 28, respectively.
Food and non-alcoholic beverages and clothing are priced at 69 percent of the EU-28 respectively, according to Eurostat data.
Personal transport equipment which includes motor cars, motor cycles and bicycles but excludes maintenance, repair and fuel, stands at 79 percent of the EU 28.
Consumer electronics, which include TVs, computers, DVD players, etc, stand at 3 percent more than the EU 28 average.
In 2013, price levels for consumer goods and services differed widely across EU member states from 48 percent of the EU 28 average in Bulgaria to 140 percent in Denmark. Price levels for food and non-alcoholic beverages in 2013 ranged from 62 percent of the EU 28 average in Poland to140 percent of the average in Denmark.