# Council Regulation (EC) No 2501/2001 of 10 December 2001 applying a scheme of generalised tariff preferences for the period from 1 January 2002 to 31 December 2004, Division 1: Development index

Extent: E+W+S+N.I.

The development index refers to a country's level of industrial development. It compares that level to the one of the European Union, using the following formula:
log Y i /Y ue +log X i /X ue /2
where:
Yi the beneficiary country's gross national product per capita,
Yue the European Union's gross national product per capita,
Xi the value of the beneficiary country's manufactured exports,
Xue the value of the European Union's manufactured exports.
Manufactured exports are those of Standard International Trade Classification (SITC) 5 to 8 less 68.

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Source: https://www.legislation.gov.uk/eur/2001/2501/annex/II/division/1 (the official version)
Page: https://openlegislation.uk/eu-regulation-2001-2501/annex-II/division-1
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.