Purchasing Power Parities 2020-2022

Swedish households’ Actual Individual Consumption 10 percent above EU average

Statistical news from Statistics Sweden 2023-12-21 8.00

Swedish households’ Actual Individual Consumption (AIC) per capita was 10 percent above the average for the 27 EU countries in 2022.

Graph: Actual Individual Consumption in purchasing power standards (PPS), 2022 (EU27=100) — Actual Individual Consumption in purchasing power standards (PPS), 2022 (EU27=100)

Source: Eurostat and Statistics Sweden

AIC per capita varied in 2022 among the 27 EU Member States, Norway, Iceland, and Switzerland from 38 percent above the EU average to 31 percent below the EU average. Luxembourg tops the list at 38 percent above, followed by Norway, 27 percent above the EU average. However, it should be noted that Norway, Iceland, and Switzerland are not included in the EU average.

Actual Individual Consumption (AIC) and Gross Domestic Product (GDP), volume indices per capita in PPS, 2020, 2021, and 2022 EU27=100

	AIC volume index per capita, EU27=100			GDP volume index per capita, EU27=100
	2020	2021	2022	2020	2021	2022
Luxembourg	139	143	138	260	266	256
Norway	127	127	127	143	168	212
Iceland	120	120	119	118	119	126
Germany	124	120	118	123	119	117
Austria	115	118	118	125	122	124
Switzerland	123	120	117	155	157	159
Netherlands	114	114	116	130	131	130
Belgium	114	115	115	118	120	120
Denmark	121	121	110	133	135	136
Sweden	111	112	110	123	122	119
Finland	114	112	109	114	112	110
France	110	110	107	105	103	100
EU-27	100	100	100	100	100	100
Italy	97	97	100	94	96	97
Cyprus	96	95	97	91	94	94
Ireland	89	91	94	207	221	235
Lithuania	94	96	94	88	89	89
Poland	83	85	87	76	77	79
Portugal	84	84	87	76	75	79
Slovenia	83	86	87	89	90	90
Spain	84	86	86	83	84	86
Romania	81	83	86	73	73	76
Czechia	85	86	83	93	92	90
Malta	81	83	83	99	103	104
Estonia	78	79	78	85	86	85
Greece	75	75	78	62	63	67
Slovakia	76	75	77	74	73	71
Croatia	69	73	76	65	70	73
Latvia	72	74	76	72	71	73
Hungary	70	69	71	74	75	76
Bulgaria	60	64	69	55	57	62

Source: Eurostat and Statistics Sweden Note: The countries are sorted by descending AIC in 2022.

In 2022, Sweden’s GDP per capita in PPS was 19 percent above the EU average. Luxembourg had by far the highest GDP per capita, at 156 percent above the EU average. This high figure is due, in part, to the large proportion of foreign workers in the country, who contribute to GDP, but are not included in the population statistics. The lowest figure recorded in this comparison was 38 percent below the EU average, in Bulgaria.

Definitions and explanations

Purchasing power parities (PPP) are currency conversion rates that are applied in order to convert economic indicators from national currency to artificial common currency, called Purchasing Power Standard (PPS), which equalises the purchasing power of different national currencies and enables meaningful volume comparison between countries.

PPP is the ratio between the amount in the countries’ domestic currency that is needed to purchase the same basket of goods and services.

GDP is first calculated in the domestic currency and later converted with an artificial currency, Purchasing Power Standard (PPS). GDP per capita adjusted with purchasing power reflects the difference in volume in real terms between countries.

GDP per capita is mainly an indicator of economic activity in a particular country.

Actual Individual Consumption (AIC) refers to all goods and services that are actually consumed by individual households. In international comparisons, AIC is often preferred as an indicator of households’ material welfare.

Eurostat’s publication on Purchasing Power Parities

Purchasing Power Parities - Overview

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2024-12-20 08:00

Statistical Database

More information is available in the Statistical Database

Feel free to use the facts from this statistical news but remember to state Source: Statistics Sweden.