Romania surpassed Poland in GDP per capita

Romania has surpassed Poland in GDP per capita, measured at purchasing power parity, announced Ionuț Dumitru, professor at the Academy of Economic Studies (ASE), at the Concordia Conference. He pointed out that Romania’s new position in the GDP per capita ranking places it not only above Poland, but also above other regional economies, such as Hungary, Croatia and Greece.

Dumitru further said that the Romanian economy’s accelerated growth has been supported by foreign investment, favorable fiscal policies and a sustained pace of development in key sectors.

In Romania, the adjusted average annual salary was 17,739 euros in 2023, exceeding the values ​​in Hungary (16,895 euros) and Greece (17,013 euros) and approaching that of Poland (18,054 euros), according to Eurostat. The adjusted average annual salary for full-time employees in the European Union was 37,900 euros, up 6.5% from 35,600 euros in 2022.

For Romania, this means an average salary of 7,310 lei per month. That is, around the value of the average gross salary in 2023. GDP per capita is the main indicator of the standard of living in a country. It represents the gross domestic product, that is, the added value produced by an economy, compared to the number of inhabitants in a country and thus represents the average production of added value per inhabitant in a country.

High inflation has caused nominal GDP per capita to grow rapidly in the last 5 years, by an average of approximately 11% per year, according to data from the National Institute of Statistics.