Accession States Lag Behind EU 15 In GDP Stakes
by Ulrika Lomas, Tax-News.com, Brussels
30 December 2003

Figures released on December 18 by the European Union’s statistical agency Eurostat have revealed that Luxembourg scored way above the EU average in terms of Gross Domestic Product per capita with Ireland also well placed on the league table. The ten accession countries due to join in 2004, including Malta and Cyprus, meanwhile fared less well when compared against their more affluent peers in the EU 15.

According to Eurostat, amongst the Acceding Countries, Cyprus was about 25% below the EU average, and the Czech Republic, Malta and Slovenia around a third below the EU average. Hungary was just above half the EU average, while Estonia, Latvia, Lithuania, Poland and Slovakia all recorded figures less than half the EU average.

Luxembourg recorded a figure around 90% above the EU average, Ireland 25% above, and Denmark, the Netherlands and Austria a little more than 10% above average. Belgium, Germany, France, Italy, Finland, Sweden and the United Kingdom were around the average, while Spain was about 15% below, and Greece and Portugal about 30% below the EU average.

When compared over a longer time period the per capita GDP indices show a relatively stable pattern. Over the entire period, from 1995 to 2002, only Ireland has significantly changed its grouping, moving from 90% of the EU average in 1995 to 125% in 2002.

Germany, France, Italy and the United Kingdom remained in the group around the EU average over the whole period. Yet there were significant developments for the individual countries. The United Kingdom showed an upward tendency, while Germany and Italy saw downward tendencies. France, on the other hand, remained at about 3% to 5% above the EU average in all years.

Greece, Spain and Portugal have all progressed towards the EU average between 1995 and 2002, as have a number of Acceding Countries: the three Baltic States, Hungary, Slovenia and Slovakia.

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