Portugal Rises in 2023 EU GDP Per Capita Ranking

Portugal Improved In European GDP Per Capita Ranking

According to the latest Eurostat estimate, Portugal's GDP per capita in 2023 went up, moving it to the 18th spot among EU countries. Despite this improvement, Portugal's GDP per person is still lower than the EU average. It's at 83%, meaning it's 17% below the average.

GDP Per Capita Explained

The GDP per capita refers to a country's total economic output divided by its entire population. In simpler terms, it's a way to measure the average amount of wealth or economic production per person in a nation.

GDP Per Capita In Purchasing Power Standards (PPS)

The GDP per capita in Purchasing Power Standards (PPS) calculates the average economic output per person in a country, adjusted for differences in price levels between countries using Purchasing Power Parity (PPP). This allows for a more accurate comparison of living standards and economic welfare across countries by accounting for variations in the cost of goods and services.

GDP Per Capita Ranking 2019 - 2023

See the full list of the rankings of the Gross Domestic Product (GDP) per capita in Purchasing Power Standards (PPS) provided by Eurostat.

Portugal Now Performing Better Than Poland And Estonia

Compared to 2022, Portugal now has a higher GDP per capita than Poland and Estonia. They're at 80% and 81% of the EU average, respectively. In general, there is a considerable difference between countries' GDPs.

Luxembourg And Ireland Leading, Bulgaria At The Bottom

Luxembourg (240%) due to private banking and Ireland (212%) with multinational companies choosing the island for their Europe-based operations, are performing exceptionally well, way above the EU average. Whereas Bulgaria (64%) as a relatively new member state is ranking at the bottom, well below the average.