Latvia is among the poorest countries in the European Union in terms of consumption and citizens' wealth. According to fresh data from Eurostat, the real expenses and incomes of the country's residents lag nearly a third behind the average European indicators.
According to Eurostat, eight EU countries recorded a level of actual individual consumption per capita above the EU average. The highest figures were noted in Luxembourg (45% above the EU average), Germany (20%), and the Netherlands (19%).
The remaining 19 countries were below the EU average. The lowest figures were recorded in Hungary and Latvia — 27% below the EU average, as well as in Estonia — 26% below.
Significant differences are also observed in the gross domestic product (GDP) per capita, which reflects the level of economic activity.
Ten EU countries demonstrated GDP per capita above the average level in the union. The leaders were Luxembourg (139% above the EU average), Ireland (138%), and the Netherlands (33%).
At the opposite end of the ranking were Greece and Bulgaria, where GDP per capita was 32% below the EU average. Following them is Latvia, whose figure was 29% below the EU average.
