Portugal ranks in Top 15 for highest household net wealth

• 15 February, 24

Statistics from the ECB Distributional Wealth Accounts have revealed the European countries with the highest household net wealth in 2023, Portugal ranked in 13th place with an average household net wealth of €127k.

The European Central Bank (ECB) published experimental statistics on Distributional Wealth Accounts (DWA) to provide quarterly and timely household distribution information that is consistent with the national accounts. The new data was developed to support the ECB’s 2021 monetary policy, which aims to include a systematic assessment of the two-way interaction between income and wealth distribution.

The DWA provides data on net wealth, total assets, liabilities and their components. Households are broken down into the top five deciles of net wealth, compared to the bottom 50 percent, as well as by employment and housing status.

The statistics also revealed the household net wealth in the Euro area, with an average of €151k. A significant rise of household net wealth in the Euro area was observed in national accounts over the past five years, by around €13.7 trillion, which was accompanied by a slight decrease in inequality, partly due to homeowners, who account for more than 60 percent of the population, benefitting from increased housing prices.

Cre: Portugalnews