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Germany : GfK Purchasing Power Europe 2016.

Europeans have around 0.3 percent more nominal purchasing power per person in 2016 compared to last year. The available net income of the population varies substantially among the 42 countries considered by the GfK study. The highest average purchasing power can be found in Liechtenstein, Switzerland and Luxembourg, while the lowest is in Belarus, Moldova and the Ukraine. Ukrainians have only one eightieth the average purchasing power of Liechtenstein inhabitants. These are some of the findings of the study "GfK Purchasing Power Europe 2016".

According to the GfK study, a total of approximately 9.18 trillion is available to European consumers in 2016 for spending and saving. This corresponds to an average per-capita purchasing power of 13,672 for the 42 countries evaluated in the study, which is a nominal increase of approximately 0.3 percent. The low growth in Europe's average per-capita purchasing power is due to exchange rate effects and stagnating growth rates in some of the larger countries, among other factors. Nonetheless, many countries have growth rates above 5 percent, including Iceland, Bulgaria, Romania, Estonia, the Czech Republic, Bosnia-Herzegovina, Croatia, Malta, Slovakia, Luxembourg and Latvia.

There is still a large gap between net incomes in Europe: Inhabitants of Liechtenstein, the country with the highest purchasing power, have almost eighty times as much purchasing power per person as inhabitants of the Ukraine, which has the lowest purchasing power in Europe. The four countries with the greatest number of inhabitants Germany, Great Britain, France and Italy comprise approximately 40 percent of Europe's population and almost 60 percent of the continent's purchasing power.

Even within the top-ten ranked countries, Liechtenstein and Switzerland significantly outpace the others with purchasing power values that are 3 to 4.6 times (respectively) the European average. Lagging substantially behind is third-ranked Luxembourg, with 2.2 times the European average. All other countries in the top ten have at least 1.5 times the average European per-capita purchasing power.

Some reshuffling has occurred among the top-ten countries compared to last year, primarily due to exchange rate effects. Luxembourg overtakes Norway to seize third place, while Iceland climbs three slots to fifth place and Great Britain falls four positions to tenth place.

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Publication:Mena Report
Geographic Code:4EXLI
Date:Nov 9, 2016
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