The poorest US state has a higher GDP per capita than Europe’s top economies, except for Germany. Is this set to continue being the case in 2025?
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00:00The poorest US state has a higher GDP per capita than Europe's top economies, except for Germany.
00:13In the third quarter of 2024, Mississippi's GDP per capita was nearly 50,000 euros,
00:21just about 1,500 euros less than Germany's. Mississippi is followed by West Virginia,
00:29Arkansas, Alabama and South Carolina, all surpassing big European economies like Spain,
00:37Italy and France. On the other end of the spectrum, New York's GDP per capita reached
00:44over 107,000 euros, while the District of Columbia leads at over 246,000 euros.
00:54In Europe, GDP per capita ranges from 15,773 euros in Bulgaria to over 125,000 euros in Luxembourg.
01:07The EU average is 40,000 euros, compared to the US average of 80,000 euros. When adjusted for
01:16purchasing power parity, which accounts for cost of living differences, the gap narrows.
01:22However, the US still outpaces all EU countries and the UK, except Luxembourg and Ireland.