Turkey’s purchasing power lags behind EU average by 35 points

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Photo by Ricardo Gomez Angel (Unsplash)

According to newly released 2017 data from EuroStat, in the volume index of gross domestic product (GDP) per capita expressed in Purchasing Power Standards (PPS), Turkey lags behind the European Union average, which is set at 100 points, with only 65.

The data set included 28 EU countries, Switzerland, Iceland and Norway, along with potential member countries Turkey, Macedonia, Montenegro, Serbia, Albania and Bosnia and Herzegovina.

Luxemburg topped the list with 253 points, whereas Albania was at the bottom with 29.

The data also revealed that the same amount of products or services in Europe priced at 100 euros cost 46 euros in Turkey, indicating that in the Actual Individual Consumption (AIC) index, a measure of the material welfare of households, Turkey had 46 points whereas the EU average was 100.

Norway was ranked first place in the AIC with 132 points, while Albania had 37.

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