IPANEWS

Turkey’s income per capita anchors to the bottom in Europe

Despite being the sixth largest economy in Europe, Turkey ranks 28 out of 29 in terms of income per capita, managing to surpass only Bulgaria.

According to The Banks Association report, Turkey’s annual income per capita couldn’t surpass 9,000 euros, while the average among European countries is 30,000 euros, and 11,000 euros in developing countries.

According to the data gathered by IPA from the banking association report, Luxemburg is the leading country in income per capita with 93,755 euros (Luxemburg was not included in the TBB report).

Ireland with 61,473 euros, and Denmark with 50,268 euros follow the Luxemburg.

Turkey’s Banking Association’s main economic and banking indicators includes some striking details in their November 2018 report. Despite 20 European countries and developing countries’ economy have current surplus, Turkey has for the most part current deficit, the report states.

While current surplus ratio to domestic input is 2.5% on average in Europe, the same rate is 1.2 in developing countries. Turkey’s current deficit ratio to gross domestic input on the other hand is 5.6%.

Furthermore, Turkey has ranked 6th in Europe in terms of unemployment rate and is currently leading inflation statistics, the report observes.

According to the report, Turkey’s deposit’s ratio to gross domestic surplus is 55%. The same ratio is 149% in Europe, while in developing countries this is 59%.

In Turkey, average deposit per capita has been calculated to be 5,000 euros. With this rating Turkey ranks 28th among European countries. Europe’s deposit per capita is 145,000 euros, yet the same number is 7,000 euros in developing countries.

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