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Cyprus' purchasing power standards rise
2006-12-18 11:07:13

Brussels, Dec 18 – The GDP per capita in purchasing power standards in Cyprus in 2005 had reached 89% of the average EU citizen compared to 2004, according to data made public on Monday by Eurostat.

The GDP per capita among EU citizens in 2005 was €23,000 ($29,900), a 3.1% increase over 2004 which was at €22,300 ($28,900). In Cyprus, GDP per capita rose 4.4% in 2005, from €18,200 ($23,600) to €19,000 ($24,700).

The Eurostat data also indicated that the Cypriots’ purchasing power is stronger than those of the rest of the new EU states as well as Greece and Portugal.

The Greek citizens’ purchasing power rose by three units in 2005 compared to 2004, taking Greece to the penultimate position among eurozone countries with Portugal being last at 71 percent.

Cyprus was about 10% below the EU25 average, while Greece and Slovenia were around 20% below. The Czech Republic, Portugal and Malta were around 30% below the EU25 average, while Hungary, Estonia and Slovakia were about 40% below. Lithuania, Poland and Latvia were around half of the EU25 average.

The data for 2005, 2004 and 2003, published by Eurostat, the Statistical Office of the European Communities, are based on revised purchasing power parities and the latest GDP and population figures.

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