This table illustrates how much the average annual income per person (in US dollars) changed in 8 European countries in 2013 in contrast with 2008.
Overall, 4 countries experienced an increase in annual income growth (Austria, Belgium, Luxembourg, Poland), while 3 countries saw a reduction in their annual income figures and only 1 country – Netherlands – registered the same number of annual income in 2008 and 2013. It’s noteworthy that the most considerable growth in annual income was observed in Poland, whilst Greece registered the most significant decline.
Of the 4 countries that experienced annual income growth, the largest increase was seen in Poland. The other country in the sample – Luxembourg – also experienced growth in annual income per person, albeit not as great as Poland’s (22% compared to 17%). This meant that it became the country with the largest income per person in the sample of 8 countries (35,000 US dollars). Belgium experienced the third largest growth over the period at 15%. Further, a rise in annual income figure can also be seen in Austria, which grew by 13%.
Netherlands was the only country that registered the same level of income in both 2008 and 2013. In each year, the income was 29,000 US dollars, making it the second country with the highest income per person in 2008 and the third one in 2013.
Greece, Italy and United Kingdom experienced a decline in their income figures. The greatest decrease was observed in Greece, which saw a 13% decrease between 2008 and 2013 (from 23,000 to 20,000 US dollars). It should also be noted that Greece became the country with the smallest income per person in 2013. The second most significant decline of these 8 countries was observed in Italy (12%), while United Kingdom registered the modest decrease from 28,000 to 27,000US dollars (4%).