Bulgaria Remains Last in the EU for Material Well-Being and GDP per Capita in 2023

Bulgaria continues to rank at the bottom of the European Union in terms of material well-being and GDP per capita for 2023, according to the latest data from Eurostat. The country's "actual individual consumption" (AIC) is 30% below the EU average, which is equivalent to 70% of the European average. This places Bulgaria at the lowest position, alongside Hungary, which also had an AIC of 70% of the EU average. In contrast, Luxembourg, which recorded the highest AIC, was 36% above the EU average.

AIC measures the goods and services consumed by households, regardless of who finances them, including purchases made by governments or non-profit organizations. It serves as an indicator of household material well-being, with data adjusted for purchasing power parity (PPP). Bulgaria's AIC shows a limited capacity for consumption, highlighting the country's persistent economic challenges.

While the AIC indicator reveals low consumption opportunities in Bulgaria, it also shows that the highest levels of AIC are in countries like Luxembourg, where it exceeds the EU average by 36%, followed by the Netherlands and Germany, both of which are 19% above the average. Conversely, 18 EU states, including Bulgaria and Hungary, have AIC levels below the EU average, with Latvia following at 26% below the average.

In terms of GDP per capita, Bulgaria also lags behind, sitting at the bottom of the Eurostat ranking for 2023. The country's GDP per capita, based on the PPP, is 36% below the European average. Luxembourg leads the ranking with a GDP per capita 137% above the average, followed by Ireland and the Netherlands. Greece and Latvia join Bulgaria in the group of countries with the lowest GDP per capita, with Greece at 31% below the EU average and Latvia at 30%...