TIRANA, June 14
The low levels of economic indicators per capita and the material welfare of households make Albania one of the poorest economies in Europe.
Eurostat figures released on Tuesday concerning the level of Gross Domestic Product (GDP) and actual individual consumption (AIC) confirmed that Albania ranks last in the list of 37 European countries. This recent analysis includes data for 28 member states of the European Union, three EFTA member states, Switzerland, Iceland, and Norway, and five EU Candidate countries, Albania, Montenegro, Macedonia, Serbia, and Turkey, and one potential candidate country, Bosnia and Herzegovina.
Albania recorded the lowest level both for GDP and AIC per capita. The AIC is an alternative indicator better adapted to describe the material welfare of households. The AIC per capita indicator is 39 percent below the EU average.
Meanwhile, the GDP per capita indicator is about 70 percent below the EU-28 average.
According to Eurostat, Luxembourg is the country with the highest level of AIC per capita in the EU, 32 % above the average of the EU-28. Further on, the price level in Albania is less that 60 percent below the EU-28 average.
News Source/Photo Credit: Eurostat