site.btaBulgaria, Hungary Rank Lowest in EU for Households' Material Well-Being in 2024

The lowest levels of actual individual consumption (AIC) per capita in 2024 were recorded in Latvia, at 28% below the EU average, followed by Hungary and Bulgaria, both at 27% below the EU average, the National Statistical Institute (NSI) said on Wednesday. NSI data also show that in 2023, the lowest levels of actual individual consumption per capita were observed in Hungary and Bulgaria, each 30% below the EU-27 (2020) average level, and in Latvia, at 26% below the average. Actual individual consumption expressed in purchasing power standards (PPS) is used as an indicator of households’ material well-being.

In 2024, Luxembourg recorded the highest AIC per capita, standing 46% above the EU-27 (2020) average level, followed by the Netherlands, at 20% above the average, and Germany, at 19%.

In the previous year, actual individual consumption per capita expressed in PPS varied widely across EU Member States, ranging from 72% to 146% of the EU-27 (2020) average (set at 100). In 2024, ten Member States recorded an actual individual consumption per capita above the EU-27 (2020) average.

GDP per capita in PPS, an indicator of economic activity, also showed substantial disparities among Member States, with ten countries exceeding the EU average. In 2024, Luxembourg posted the highest GDP per capita in PPS, at 245% of the EU-27 (2020) average, followed by Ireland, at 221%, and the Netherlands, at 134%.

The lowest GDP per capita levels were recorded in Bulgaria, at 66% of the EU-27 (2020) average, Latvia, at 68%, and Greece, at 69%.