Turkey still lagging far behind EU average GDP per capita
Posted by meb at September 8th, 2008
Despite the high growth rates in its economy over the past five years, Turkey’s gross domestic product (GDP) per capita has made little progress toward EU averages in the given period.
According to a recent report by the General Directorate of EU Affairs, a subdivision of the State Planning Organization (DPT), the average GDP per capita of the entire EU, based on the purchasing power parity (PPP), was 2.7 times more than Turkey’s GDP per capita five years ago. The report claimed that if the current projections prove valid, this difference will be 2.4 times by year’s end. In 2009, a citizen of the EU will be 2.3 times richer on average than a Turk.
The report, titled “Economic Developments in the EU Member and Candidate Countries,” said the average GDP per capita in the EU was 21,600 euros in 2004, whereas it is estimated to climb to 25,900 euros by the end of 2008. This figure is expected to grow to 26,800 euros in 2009. In Turkey on the other hand, the GDP per capita was 8,100 euros five years ago and it will have reached 10,900 euros by the end of 2008. Next year it is expected to rise to 11,500 euros.
With respect to the GDP per capita based on PPP, Luxembourg topped the list as the richest nation in the EU with 68,500 euros as of 2007. It is estimated that this country of affluence and prosperity will retain its place in 2008 with 71,000 euros; as the second nation, Ireland will follow it with 33,600 euros of GDP per capita. The Netherlands is predicted to come third with 33,600 euros, and Austria will be chasing it with 32,500 euros. Sweden will be slightly behind it with 32,200 euros.
Of the 27 members of the EU, 14 will have a GDP per capita below the bloc’s average of 25,900 euros. Bulgarians will take the lowest rank among all the EU nationals with their 10,800 euros of GDP per capita. That means if Turkey was a member of the EU, it would place slightly above the poorest country in the EU.
As one of the three candidates waiting to be a member of the world’s most prominent economic union, Croatia will have 14,600 euros of GDP per capita by the end of this year, leaving Turkey far behind. Source: Today’s Zaman
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