Purchasing Power In Turkey Was Well Below EU

Purchasing power in Turkey was well below that of the EU. In Turkey, this data is 36 percent lower compared to the EU.

While the average of 27 European Union (EU) countries was 100, this value was calculated as 64 percent for Turkey, according to the provisional results of the per capita gross domestic product (GDP) index according to purchasing power announced by the European Union Statistics Office (Eurostat) for 2020. In comparisons, 27 EU member states, 3 European Free Trade Association (EFTA) countries (Switzerland, Iceland and Norway), 5 candidate countries (Turkey, North Macedonia, Montenegro, Serbia and Albania), 1 potential candidate country (Bosnia-Herzegovina) and The United Kingdom was taken into account. Among the 37 countries that made the comparison, the country with the highest GDP per capita index according to PPP was Luxembourg with 266, while the lowest country was Albania with 31. In the GDP per capita index, Luxembourg was valued 166 percent above the EU average and Albania 69 percent below. While the actual level of individual consumption per capita was 100 for the 27 European Union countries, it was 72 for Turkey, 28 lower compared to the EU average. Among the 37 countries included in the comparisons, the country with the highest actual individual consumption per capita was Luxembourg with 131, and the lowest country was Albania with 40.

Turkey Is Among Cheap Countries

Turkey’s price level index for actual individual consumption was 32 according to the provisional results for 2020. This value means that the same basket of goods and services purchased for 100 Euros across EU countries can be purchased in Turkey for 32 Euros.