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Iulian Ernst
Senior Editor

Iulian studied physics at the University of Bucharest, and he sees himself as a physicist in the broadest sense of the word. He also studied economics at Charles University in Prague and Central European University in Budapest, after a master’s program in business administration at Bucharest Academy of Economic Studies. Since recently, he’s been exploring coding and data analysis for business and economics. As a freelancer, he worked for nearly two decades as an analyst for ISI Emerging Markets, Euromonitor International, Business New Europe, but also as a consultant for OMV Petrom and UkrAgroConsult. Iulian was part of the founding team of Ziarul Financiar. At Romania Insider, which he joined in 2018, he is reviewing the latest economic developments for the premium bulletins and newsletters. He would gladly discuss topics such as macroeconomics, emerging markets, Prague, energy sector including renewable, Led Zeppelin, financial services, as well as tech start-ups and innovative technologies. Email him at iulian@romania-insider.com. 

 

Romania’s GDP at PPP reaches 72% of EU average in 2020

Romania’s GDP per capita expressed in purchasing power standards (PPS) increased to 72% of the European Union’s average, 3pp up from 2019, according to the first estimates published by the Union’s statistics office, Eurostat.

Romania’s economy thus performed 2pp below that of Hungary and 4pp behind Poland, but well above the economy of Bulgaria (55% of EU average) or even Greece (64%).

Romania’s ratio, used to measures the convergence gap to EU average, has advanced (the gap narrowed) by 20pp over the past ten years.

At par with the performance of Estonia, Romania’s 20pp leap over the past decade was second only to Lithuania’s outstanding +26pp advance in the European Union [save for the abnormal developments in tax-haven Ireland]. Poland’s GDP per capita also improved robustly, by 13pp.

When it comes to Actual Individual Consumption (AIC) per capita, also expressed in purchasing power standards (PPS), Romania stands even better: its AIC rose to 79% of the EU’s average, 25pp up from a decade ago. This was again the second-widest leap, second to Lithuania (+29% and 96% of the EU average).

In the region, Hungary (69% of the EU average), Bulgaria (61%), and even Greece (78%) lag behind while Poland stands out with a strong 83% ratio.

(Photo: Antonyesse/ Dreamstime)

iulian@romania-insider.com

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Profile picture for user iuliane
Iulian Ernst
Senior Editor

Iulian studied physics at the University of Bucharest, and he sees himself as a physicist in the broadest sense of the word. He also studied economics at Charles University in Prague and Central European University in Budapest, after a master’s program in business administration at Bucharest Academy of Economic Studies. Since recently, he’s been exploring coding and data analysis for business and economics. As a freelancer, he worked for nearly two decades as an analyst for ISI Emerging Markets, Euromonitor International, Business New Europe, but also as a consultant for OMV Petrom and UkrAgroConsult. Iulian was part of the founding team of Ziarul Financiar. At Romania Insider, which he joined in 2018, he is reviewing the latest economic developments for the premium bulletins and newsletters. He would gladly discuss topics such as macroeconomics, emerging markets, Prague, energy sector including renewable, Led Zeppelin, financial services, as well as tech start-ups and innovative technologies. Email him at iulian@romania-insider.com. 

 

Romania’s GDP at PPP reaches 72% of EU average in 2020

Romania’s GDP per capita expressed in purchasing power standards (PPS) increased to 72% of the European Union’s average, 3pp up from 2019, according to the first estimates published by the Union’s statistics office, Eurostat.

Romania’s economy thus performed 2pp below that of Hungary and 4pp behind Poland, but well above the economy of Bulgaria (55% of EU average) or even Greece (64%).

Romania’s ratio, used to measures the convergence gap to EU average, has advanced (the gap narrowed) by 20pp over the past ten years.

At par with the performance of Estonia, Romania’s 20pp leap over the past decade was second only to Lithuania’s outstanding +26pp advance in the European Union [save for the abnormal developments in tax-haven Ireland]. Poland’s GDP per capita also improved robustly, by 13pp.

When it comes to Actual Individual Consumption (AIC) per capita, also expressed in purchasing power standards (PPS), Romania stands even better: its AIC rose to 79% of the EU’s average, 25pp up from a decade ago. This was again the second-widest leap, second to Lithuania (+29% and 96% of the EU average).

In the region, Hungary (69% of the EU average), Bulgaria (61%), and even Greece (78%) lag behind while Poland stands out with a strong 83% ratio.

(Photo: Antonyesse/ Dreamstime)

iulian@romania-insider.com

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