According to Eurostat, in 2023, the Actual Individual Consumption (AIC) per capita, expressed in Purchasing Power Standards (PPS), ranged from 70% to 138% of the EU average across the 27 EU countries. AIC is a measure that includes all goods and services used by households, regardless of whether they were purchased and paid for by households, government, or non-profit organizations. It serves as an indicator of the material well-being of households.

Key Findings:

• Luxembourg had the highest AIC, at 38% above the EU average.
• Austria and the Netherlands followed, both at 17% above the EU average.
• Hungary had the lowest AIC, at 30% below the EU average, followed by Bulgaria (27%), Slovakia, and Latvia (both 25% below the EU average).

GDP per Capita in the EU

Luxembourg and Ireland Lead in GDP per Capita

Gross Domestic Product (GDP) per capita, a measure of economic activity, also showed significant differences among EU member states.

Key Findings:

• Luxembourg had the highest GDP per capita, at 139% above the EU average.
• Ireland followed closely, at 111% above the EU average.
• The Netherlands had a GDP per capita 30% above the EU average.
• Bulgaria had the lowest GDP per capita, at 36% below the EU average, followed by Greece (33%) and Latvia (29%).

Romania's Position in the EU

Romania's Mid-Range Position

Romania ranks 14th in Europe regarding AIC, placing it in the mid-range of the EU standings. Despite high inflation, the data suggests that Romanian consumers have substantial purchasing power, reflecting real consumption levels rather than distorted figures. This implies that, contrary to the frequent complaints, Romanians have disposable income.

Supporting Evidence:

• The National Bank of Romania has confirmed the rising standard of living through statements from Governor Mugur Isărescu.
• Statistics indicate that over 30% of Romanians can afford to take vacations abroad two or three times a year.

The Eurostat data highlights the economic disparities within the EU, with countries like Luxembourg and Ireland showcasing high standards of living and economic activity, while others, such as Bulgaria and Hungary, lag behind. Romania's position in the middle of the consumption rankings suggests a moderate but improving economic situation for its residents.

For more detailed insights and data visualization, you can visit the Eurostat website.