Dutch GDP per capita ranks fourth in the EU

Luxembourg has the highest per capita GDP in the EU. This is due to the fact that the country has relatively many financial institutions and a large number of people who work but do not live there. In second place is Ireland, followed by Denmark and the Netherlands. At 12 thousand euros, Bulgaria’s GDP per capita is the lowest within the EU. This is over two and a half times lower than the EU average.

Two consecutive years of strong growth in Dutch GDP per capita

In 2022, Dutch GDP per capita was 3.5 percent higher than in the previous year. In 2021, growth was still 4.3 percent. This means that per capita GDP in the Netherlands has seen strong growth for two years in a row. In 2022, it was back above the level of 2019, the last pre-pandemic year.

Last year, the Netherlands’ GDP per capita grew faster than the average across the EU. In addition, growth was stronger than for our main EU trading partners: Germany, Belgium and France. In both Belgium and France, per capita GDP rose by 2.2 percent. Germany’s GDP per capita increased by 1.1 percent.

Gap across the EU narrower after adjustment for price level differences

In 2022, Luxembourg’s GDP per capita was over nine and a half times higher than Bulgaria’s GDP per capita. However, a person is able to buy more goods and services in Bulgaria than in Luxembourg with the same amount of money. To make economic prosperity levels in countries comparable, Eurostat adjusts for price level differences and therefore also for differences in purchasing power. A country’s purchasing power is influenced by the level and development of prices and wages.

After adjustment for price level differences between EU countries, Dutch GDP per capita stood at over 45 thousand euros in 2022. With this correction, the Netherlands still ranks fourth within the EU. The correction narrows the gap between EU countries. Per capita GDP in Luxembourg was over four times higher than in Bulgaria, after correction for price level differences.