Luxembourg is EU's richest country
The Grand Duchy of Luxembourg is the European Union's wealthiest country, both in terms of its GDP and individual consumption, statistics office Eurostat has shown.
(CS) The Grand Duchy of Luxembourg is the European Union's wealthiest country, both in terms of its GDP and individual consumption, statistics office Eurostat has shown.
In its study published on Thursday, Eurostat measures GDP and Actual Individual Consumption (AIC) in purchasing power standards (PPS). The PPS is a fake currency used by Eurostat to determine the value of money in countries with different-sized economies, eliminating differences in price structure for goods and services.
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