Cyprus GDP per inhabitant reaches €37,100, near EU average

Cyprus recorded a GDP per inhabitant of €37,100 in purchasing power standards (PPS) in 2023, according to Eurostat data published this week.

The figure stood just below the EU average of €38,100 PPS, placing the island close to the midpoint of the bloc’s economic scale.

Among southern European economies, Cyprus performed better than Greece (€26,400), Portugal (€30,700) and Spain (€34,500), while remaining roughly on par with Italy (€37,500) and slightly behind Malta (€40,900).  

Croatia (€29,000) and Slovakia (€28,100) followed at lower levels. 

At the top of the ranking, the Irish regions of Dublin (€139,500 PPS) and South-West (€137,300 PPS) recorded the highest levels in the EU, followed by Paris (€126,900 PPS) and Hauts-de-Seine (€111,800 PPS) in France, and Groot-Amsterdam (€96,900 PPS) in the Netherlands.

Other high-income urban areas included Eastern and Midland Ireland (€93,300 PPS), Luxembourg City (€90,300 PPS), Copenhagen (€84,100 PPS), Stockholm (€77,900 PPS) and Brussels-Capital Region (€74,600 PPS). Munich, Hamburg, and Frankfurt in Germany, as well as Vienna and Zurich.

At the country level, Luxembourg (€90,300) and Ireland (€81,200) were the wealthiest EU members, followed by the Netherlands (€50,800), Denmark (€47,800) and Austria (€45,700).  

Belgium (€49,800), Germany (€136,500) and France (€45,700) came next, ahead of Sweden (€49,500) and Finland (€46,600).  

In the wider European region, Norway (€56,300) and Iceland (€55,900), both outside the EU, also remained among the continent’s top performers. 

Meanwhile, in central and eastern Europe, income levels continued to lag. Czechia (€34,500) and Slovenia (€35,000) were closest to the EU average, while Poland (€29,500), Hungary (€29,200), Romania (€29,700) and Bulgaria (€24,300) remained well below it.  

In the Baltics, Estonia (€30,500) performed better than Latvia (€26,900) and Lithuania (€33,000), though all three still trailed behind western counterparts. 

Within these lower-income countries, several regions, including Haskovo (€11,000 PPS) and Silistra (€11,100 PPS) in Bulgaria, and Nord-Est Romania (€13,800 PPS), ranked among the poorest in the Union.

The French outermost region of Mayotte (€10,500 PPS) recorded the lowest GDP per inhabitant in Europe, while other territories such as Guadeloupe, Martinique, and Reunion also remained well below the EU average.