Rapid Economic Expansion Exceeds Population Increase
In the span of a decade, Europe has witnessed a diverse economic landscape, with some countries experiencing robust growth while others grappled with stagnation.
One standout performer in this period has been the Netherlands, where GDP per capita soared to over 62 thousand euros in 2024, a 13.6 percent increase after adjusting for price changes compared to a decade earlier. This growth was accompanied by a significant rise in actual individual consumption per capita, which reached 110.2 in 2024, up from 100.0 in 2014.
However, the Netherlands wasn't the only European nation to see strong economic growth. Central and Eastern European countries like Poland, Romania, and Croatia also experienced very strong GDP per capita growth. Yet, the growth rate of actual individual consumption per capita in these countries was lower than in the Netherlands, with growth rates of 43.0 percent, 38.2 percent, and 38.0 percent respectively.
Interestingly, in some northern and western European countries, the difference between economic growth and population growth was smaller than in the Netherlands. In contrast, high economic growth was accompanied by population decline in countries like Ireland, Cyprus, and Malta.
The total population of current EU member states grew at a slower rate of 1.6 percent between 2014 and 2024. This slower population growth rate, combined with the overall economic growth, led to an increase in actual individual consumption per capita across the EU as a whole. In fact, actual individual consumption per capita in the EU was 13.3 percent higher in 2024 than in 2014.
It's worth noting that actual individual consumption per capita provides a more comprehensive measure of household material wealth than GDP per capita, as it takes into account government spending on consumption that households receive in the form of social transfers in kind, such as healthcare and education.
Moreover, the growth rate of actual individual consumption per capita in the Netherlands was less than the growth rate of GDP per capita in the Netherlands. This suggests that despite the strong economic growth, the distribution of wealth may not have been evenly balanced.
On a broader scale, the GDP in the EU as a whole grew by 17.7 percent between 2014 and 2024. However, the growth rate of actual individual consumption per capita in the EU was less than the growth rate of GDP per capita (15.8 percent). This discrepancy could be due to differences in population growth rates among EU countries.
While Ireland had a higher economic growth rate than the Netherlands, specific population growth rates comparative to the Netherlands are not detailed in the search results. Therefore, based on available data, Ireland is a likely country with higher GDP growth, but population growth rates comparison remains unclear from the provided information.
In conclusion, Europe's economic landscape has undergone significant changes over the past decade, with some countries experiencing strong growth while others have faced challenges. The Netherlands, in particular, has seen robust economic growth and an increase in actual individual consumption per capita, but the distribution of wealth may not have been evenly balanced. Further research is needed to understand the population growth trends in countries like Ireland, Cyprus, and Malta, which have seen high economic growth but slower population growth.
Read also:
- Understanding Hemorrhagic Gastroenteritis: Key Facts
- Stopping Osteoporosis Treatment: Timeline Considerations
- Trump's Policies: Tariffs, AI, Surveillance, and Possible Martial Law
- Expanded Community Health Involvement by CK Birla Hospitals, Jaipur, Maintained Through Consistent Outreach Programs Across Rajasthan
