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Voxpress:

EUROSTAT: Albanians last in Europe for individual consumption

2024-02-15 11:59:27Biznes SHKRUAR NGA REDAKSIA VOX

EUROSTAT: Albanians last in Europe for individual consumption

The latest data from the European Statistics Agency (EUROSTAT), for the year 2022, show that an average Albanian consumes 41% of a European citizen. The previous year, in 2021, this rate was fixed at 39%. Thus, Albania continues to be the last country in Europe in this regard. We can even say that it is worse than some countries in the region. Although we are ranked at the bottom of the European countries, it seems that Albania has narrowed the gap with Europe by 2 percentage points in terms of one of the most important indicators of well-being, i.e. consumption.

In 2022, current individual consumption levels in the EU showed significant differences. Used as a measure of the material well-being of households, individual consumption per capita expressed in purchasing power standards varied from 41% to 138% of the EU average. The data show that the current consumption per capita in our country is 2.4 times smaller than that of an average European, an Italian or a French for example. Current individual consumption is probably the most accurate indicator of well-being, as it is expressed in the standard of purchasing power, i.e. standardized according to the level of each country.

As in previous years, Luxembourg recorded the highest level of individual consumption per capita in the EU at 38% above average, followed by Norway at 27% above average and Iceland and Austria at 19% and 18% above average. In 2022, 12 European countries recorded a per capita consumption above the EU average.

But how does the consumption of an Albanian compare to that of a citizen from Luxembourg? Compared to countries like Luxembourg, an Albanian consumes on average almost 3.3 times less.

At the regional level, Albania is in last place along with Bosnia and Herzegovina with the same level of consumption. Montenegrins appear to be the best-off in the region, with individual consumption at 63% of the average European. Meanwhile, Serbia and North Macedonia have this indicator as 53% and 50% of an average European.

 


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