Turkish Statistical Institute announced the "Purchasing Power Parity" (PPP) data for 2022.
According to the SGP announced by the European Union Statistical Office, the per capita gross domestic product (GDP) index value was 100 units on average for 27 European Union (EU) countries, while it was 67 units for Turkey and remained 33 percent below the EU average.
The comparisons covered 27 EU member countries, 3 European Free Trade Association (EFTA) countries (Switzerland, Iceland and Norway), 5 candidate countries (Turkey, North Macedonia, Montenegro, Serbia and Albania), 1 potential candidate country (Bosnia and Herzegovina).
Among the 36 countries in question, the country with the highest GDP per capita index according to SGP was Luxembourg with 256, and the lowest country was Albania with 34.
In the GDP per capita index, Luxembourg was 156 percent above the EU average, and Albania was 66 percent below the average.
The price level index shows the comparative purchasing power of countries' national currencies according to their exchange rates.
If the price level index of a country is greater than 100, this country is considered "expensive" compared to the average of the country group it is compared to, and if it is less than 100, this country is considered "cheap" compared to the average of the country group it is compared to.
Turkey's price level index for actual individual consumption was 36 according to the results of 2022.
This value showed that the same basket of goods and services purchased for 100 euros across EU countries could be purchased with Turkish lira for 36 euros in Turkey.