Portugal’s GDP per capita 21% below European average

 In Economy, GDP, News

Portugal is being overtaken by much of Europe in terms of growth as its GDP per capita was 21% below the European average according to Portugal’s National Statistics Institute.

Despite an improvement in 2022 on 2021, GDP per capita in terms of parity of purchasing power at the end of 2022 was only 78.7% of the European Union average, according to data released on Thursday from INE.
It means the average income per Portuguese is 21.3% less than the average of the 28 countries of the European Union, placing Portugal as the 20th country with the lowest GDP per capita in the European Union, and 16th in terms of the lowest level of income per resident out of 19 Euro Zone countries.
Individual consumer spending per capita was fixed at 87% of the European Union average at the end of last year.
Despite these values showing a 2.6% improvement on 2021, Portugal comes in 12th place in the Euro Zone and 15th in the European Union “having improved two or three positions on the previous year”.