GDP per capita: Netherlands fourth in EU in 2024

Within the EU, Luxembourg has the highest GDP per capita. This is due to both the relatively large number of financial institutions in the country, as well as the fact that there are many people who work in Luxembourg but do not live there. Ireland, another country with a high number of foreign-owned multinationals, ranks in second place, followed by Denmark and the Netherlands. Bulgaria has the lowest GDP per capita in the EU, at approximately 16 thousand euros. That is almost two and a half times lower than the EU average.

Dutch GDP per capita 0.3 percent higher than 2023

Adjusted for price changes, GDP per capita in the Netherlands was 0.3 percent higher in 2024 than the year before. Economic growth outpaced population growth, leading to an increase in GDP per capita. Across the EU, GDP per capita increased by 0.8 percent. In 2023, GDP per capita in both the Netherlands and the EU actually decreased, by 0.1 and 0.9 percent, respectively.

Actual individual consumption: Netherlands second in EU

Another measure of a country’s prosperity is actual individual consumption per capita, corrected for price level. This measure consists of consumption expenditure by households, non-profit institutions serving households, and individual consumption by the government. As such, it allows for differences in the financing of certain services; differences between countries in the financing of health care, for instance. In the Netherlands, actual individual consumption, corrected for price level differences, comes out at approximately 32 thousand euros. That puts the Netherlands in second place in the EU. Across the EU as a whole, actual individual consumption averages over 26 thousand euros. It makes up 60 percent of GDP in the Netherlands, versus 66 percent in the EU.

Actual individual consumption in Luxembourg and Ireland makes up a lower share of GDP, which tends to be the case for countries that are home to many (foreign) enterprises. Luxembourg still ranks in first place in the EU, but the difference with other countries is less pronounced. Ireland drops to fifth place when this measure is applied. Based on actual individual consumption per capita, Belgium ranks third in the EU, while it ranks seventh on GDP per capita.