Last year Slovenia's gross domestic product (GDP) reached 77 percent of the average of the enlarged EU, according to audited data released by Eurostat on Friday. Slovenia thus places 16th among the 25 member states in terms of GDP per capita, expressed in terms of purchasing power standards.
GDP per capita in Luxembourg was more than twice the EU average, and thus the highest, while Latvia's was the lowest, reaching only 41 percent of the EU average.
Eurostat also released final data for 2002, which indicates that Slovenia's GDP was 75 percent of the EU-25 average. The figure was the same in 2001. Slovenia's GDP equaled 68 percent of the EU average in 1995, 70% in 1996 and 71% in 1997. While it reached 72% in 1998 and 74% in 1999, it was down one percentage point in 2000.
The GDP figure shows the average development rate of a country. In the case of Slovenia it is important, because it is a key factor in determining the country's eligibility to money from the EU's structural funds. These are intended for less developed regions, but Slovenia is considered to be one region.
The regions eligible to the funds are those whose GDP is below 75 percent of the EU average, the figure considered being an average of three years for which data is available.
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