Cyprus recorded an increase in per capita household income above the European Union average over the past decade, according to figures released on Tuesday by Eurostat.
Across the EU, real household income per capita rose by 22% between 2004 and 2024. The trajectory was not linear: income climbed steadily from 2004 to 2008, stalled between 2008 and 2011 during the global financial crisis, and fell in 2012 and 2013. Growth resumed thereafter until 2020, when the pandemic drove a decline. A rebound followed in 2021, with slower gains in 2022 and 2023. Preliminary data for 2024 indicate an acceleration.
Performance varied widely by country over the 20-year period. Romania posted the largest increase in real per capita household income at 134%, followed by Lithuania (95%), Poland (91%) and Malta (90%). Greece and Italy were the only member states to record declines, down 5% and 4% respectively. The smallest increases were observed in Spain (11%), Austria (14%), Belgium (15%) and Luxembourg (17%).
Eurostat’s data place Cyprus above the EU average for the last decade, confirming a stronger national trend within a mixed European picture.