Turkey's GDP per capita index based on 'Purchasing Power Parity' was 67 for 2022

The Turkish Statistical Institute has announced the "Purchasing Power Parity" data for 2022.

According to the PPP announced by the Statistical Office of the European Union, while the average GDP per capita index value for the 27 European Union (EU) countries was 100 units, it was 67 units for Turkey, remaining 33 percent below the EU average.

The comparisons covered 27 EU member countries, 3 European Free Trade Association (EFTA) countries (Switzerland, Iceland, and Norway), 5 candidate countries (Turkey, North Macedonia, Montenegro, Serbia, and Albania), and 1 potential candidate country (Bosnia and Herzegovina).

Among these 36 countries, Luxembourg was determined to have the highest GDP per capita index based on PPP with 256, while Albania had the lowest with 34. In the GDP per capita index, Luxembourg was 156 percent above the EU average, while Albania was 66 percent below the average.

TURKEY'S ACTUAL INDIVIDUAL CONSUMPTION LEVEL DETERMINED AS 77

While GDP per capita is taken as the basis for comparing the development levels of countries, actual individual consumption indices per capita are considered a more appropriate indicator for comparing the relative welfare levels of consumers. Actual individual consumption includes not only the goods and services purchased by consumers but also services such as education and health provided by the state or non-profit organizations.

While the average actual individual consumption level per capita for the 27 EU countries was 100, it was 77 for Turkey, leaving Turkey 23 percent below the EU average. Among the 36 countries included in the comparisons, Luxembourg had the highest actual individual consumption value per capita with 138, while Albania and Bosnia and Herzegovina were recorded as the lowest with 41.

A BASKET OF 100 EUROS IN THE EU COSTS 36 EUROS IN TURKEY

The price level index shows the purchasing power of countries' national currencies relative to the exchange rate. If a country's price level index is greater than 100, that country is considered "expensive" compared to the average of the country group it is compared with, and if it is less than 100, it is considered "cheap" compared to the average of the country group.

Turkey's price level index for actual individual consumption was 36 according to the 2022 results. This value indicates that the same basket of goods and services purchased for 100 euros across EU countries can be purchased in Turkey for the equivalent of 36 euros in Turkish Lira.

On the other hand, the statistical tables and results in the news bulletin were created using the calculations of the European Statistical Office (Eurostat) directly. The data published by Eurostat and included in the bulletin are calculated within the scope of the European Comparison Program studies carried out jointly by Eurostat and the OECD.

The 2022 GDP per capita values based on PPP for selected countries are as follows: