Greece Joins Club of Poorest EU Nations (graph)

Greece’s GDP per capita was just 67 percent of the European average in 2017, one percentage point lower than in 2016, placing the country among the poorest half of the EU, according to a report by the statistical service Eurostat.

The report released on Tuesday, also shows that private consumption in Greece remains at low levels. In 2017, it lingered at 23 percent below the EU average and 27 percent below the eurozone average.

The findings show Greece is in the lowest position among all ‘old EU’ countries and it now ranks among nations from Eastern Europe that have joined the union relatively recently.

In terms of real private consumption, Greek households are ranked 19th, under countries such as Lithuania (88 percent of the European average) and the Czech Republic (80 percent of the European average).

In terms of GDP per capita, Greece lies even lower, at 24th place among the “28” along with Latvia at 67 percent of the average.