Bosnia Has Worst GDP in Europe, Eurostat Says

from BalkanInsight.com..

Kenan Efendic | BIRN | Sarajevo
June 21, 2013
Bosnia and Herzegovina has the lowest Gross Domestic Product, GDP, per capita and the lowest Actual Individual Consumption, AIC, of 37 European countries, according to a report by the EU statistics agency Eurostat.

The research covered all EU member states, plus Switzerland, Iceland, Norway, Croatia, Macedonia, Serbia, Turkey, Montenegro, Bosnia and Albania.

Based on preliminary results for 2012, Bosnia’s GDP, expressed in Purchasing Power Standards, PPS, is only 27 per cent of the EU average, while Bosnia’s AIC is 36 per cent of the average.

At the end of last year, the official number of unemployed persons in Bosnia was 550,574, 44.4 per cent of the working-age population, the highest number ever recorded.

A GDP that is 72 per cent lower than the EU average puts Bosnia last overall on the list, behind all other countries from the Western Balkans.

Albania is not far behind Bosnia, with a GDP that is 30 per cent of the EU average, while Serbia and Macedonia are both on 35 per cent and Montenegro is on 42 per cent.

Croatia, which is going to become an EU member state on July 1, is the richest country in the region. Its GDP is 61 per cent of the EU average. This puts Croatia above two existing EU member states, Romania (59 per cent) and Bulgaria (47 per cent).

Luxembourg has the highest GDP level among the EU member states at 271 per cent of the EU average.

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