Effective use of the economic potential of the region based on innovation and responsible economic growth
Definition
The value of gross domestic product per capita calculated in Purchasing Power Parity (PPP) and expressed in the common contractual currency PPS (Purchasing Power Standard) in relation to the EU27 average (from 2020, i.e. excluding the United Kingdom), set at 100 (EU27_2020 = 100).
Unit
percent
Available dimensions
total
Methodological explanations
Gross domestic product (GDP) represents the final result of activity of resident producer units in a given year. The detailed definition and methodology for calculating GDP was defined in Regulation (EU) No 549/2013 of the European Parliament and of the Council of 21 May 2013 on the European system of national and regional accounts in the European Union (ESA 2010).
Purchasing power parities (PPP) are a type of exchange rate used to convert economic indicators expressed in national currencies into a common contractual currency. They eliminate the impact of differences in price levels between the countries participating in the survey and thus allow a direct comparison between the volume of GDP and its components. Purchasing power parities are calculated, among others, as part of the international comparison program conducted by the European Union. The common contractual currency adopted in the European Union is the Purchasing Power Standard (PPS). The value of one PPS is equal to the number of units of a country's currency corresponding to EUR 1 on the domestic market, taking into account the price relationship of that country with the prices of the other countries involved in the comparison.
If the value of the indicator is lower than 100, then the level of GDP per capita in a given country (region) is lower than the average in the EU and vice versa.
