Montenegro's GDP per capita, expressed in purchasing power standards (PPS), equalled to 42% of the EU27 average in 2012, the same as a year earlier, preliminary Eurostat data showed. In 2008, the country’s GDP per capita stood at 43% of the EU27 average.
The Purchasing Power Standard (PPS) eliminates price level differences between countries and thus one PPS buys the same volume of goods and services in all countries.
Montenegro outpaced its neighbouring countries - Bosnia and Herzegovina (GDP per capita at 28% of the EU27 average), Serbia (GDP per capita at 35% of the EU27 average), Albania (GDP per capita at 30% of the EU27 average) with the exception of Croatia, which had a GDP per capita at 61% of the EU27 average in 2012.
The country’s GDP per capita rose by 12 points in the 2005-2008 period, reflecting strong convergence towards the EU average level. However, the catch-up process appears to have been stalled following the onset of the crisis.
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