Are socio-economic factors valid determinants of suicide? The modern sociological theory of suicide is based on Durkheim's studies. In addition to these fundamental social determinants, modern theorists have put more attention on economic factors. The purpose of the research is to determine the relationship between suicide rates and socio-economic factors, such as demography, economic development, education, healthcare systems, living conditions and labour market. All data were collected from a Eurostat publication and they concern 25 European Union countries. In order to test this relationship, a discriminant analysis was performed using an ordinal dependent variable and a set of independent variables concerning socio-economic factors. A dataset of 37 independent variables was used. We estimated a model with five variables: annual growth rates for industry, people working in S&T (% of total employment), at-risk-of-poverty rate, all accidents (standardized rates), and healthcare expenditures (% of GDP). Highly significant values of Wilk's Lambda assess a good discriminating power of the model. The accuracy too is very high: all cases are correctly classified by the model. Countries with high suicide rate levels are marked by high levels of at-risk-of-poverty rates, high annual growth rates for industry and low healthcare expenditures.