Money Buzz! Europa

Tag: eu

  • 59.5 million postcards were printed in the EU last year

    59.5 million postcards were printed in the EU last year

    This amount has been relatively stable since 2017, after substantial falls in the previous years. However, it fell by 41% compared to 2009, Eurostat reports.

    In 2019, more than two thirds of the postcards were printed in only three countries: Sweden (14.5 million; 24% of all postcards printed in the EU), Germany (13.9 million; 23%) and Spain (11.8 million; 20%).

    Decrease in the number of people working in postal and courier services

    In the EU, 1.5 million people, aged 15 or over, were employed in postal services in 2019. This is a 7% decrease compared to 2009.

    ”Postal services” include postal and courier activities, such as the pickup, transport and delivery of letters and parcels.

    Among those employed, 0.9 million were men, representing 58% of the total workers of this sector.

    In 2019, at EU level, on average 40 people per 10 000 inhabitants were working in the postal services sector. This is a decrease of 8% from 2009 (43 people per 10 000 inhabitants).

  • Euro zone: Four out of ten card transactions were made using contactless technology

    Euro zone: Four out of ten card transactions were made using contactless technology

    Euro area consumers are gradually shifting towards cards for in-person retail payments, although cash remained the most used instrument at the end of 2019, data published by the European Central Bank (ECB) show.

    Last year euro area adult consumers used cash for 73% of their point-of-sale and person-to-person retail transactions (48% in value terms).

    In a previous ECB study conducted in 2016, the figure was 79% of these transactions (54% in value terms).

    The use of cards for in-person retail payments increased by 5 percentage points over the same three years, from 19% to 24% (41% in value terms).

    Almost four out of ten card transactions were made using contactless technology in 2019.

    For their online shopping, euro area adult consumers paid mainly by card (49% of transactions) and one out of four online transactions was made using e-payment solutions.

    Four out of ten bill payments were made using direct debit and two out of ten by credit transfer.

    How Covid-19 pandemic changed payment behavior

    Four out of ten respondents replied that they had used cash less often since the start of the pandemic. While most of those who fell into this category expected to continue to do so after the pandemic, the long-term impact on payment behaviour is still uncertain.

  • Households in the EU have devoted almost a quarter of income to housing costs

    Households in the EU have devoted almost a quarter of income to housing costs

    In 2019, nearly a quarter (23.5%) of household consumption expenditure was devoted to ”Housing, water, electricity, gas and other fuels”, Eurostat reports.

    This is the EU’s largest household expenditure item by far, ahead of ”Transport” (13.1%) and ”Food and non-alcoholic beverages” (13.0%), followed by ”Restaurants and hotels” as well as ”Recreation and culture” (both 8.7%).

    The remaining household spending was distributed over ”Furnishings, household equipment and routine household maintenance” (5.5%), ”Clothing and footwear” (4.6%) and ”Health” (4.4%).

    ”Alcoholic beverages, tobacco and narcotics” stand at 4.0% of household consumption expenditure, ”Communications” account for 2.4%, ”Education” (0.9%) and ”Other” (11.2%).

  • EU household saving rate recorded its highest year-over-year increase

    EU household saving rate recorded its highest year-over-year increase

    In the second quarter of 2020, the EU household saving rate recorded its highest year-over-year increase since the time series began at +10.8 percentage points (pp), Eurostat reports.

    The main reason behind this was a marked 17.3% year-on-year decline in household final consumption expenditure. This drop in household final consumption expenditure was in stark contrast with the decrease of 1.8% in the last quarter and recent increases in excess of 2%.

    Compared with the second quarter of 2019, the household saving rate increased in all but one of the Member States (for which data are available) in the second quarter of 2020.

    Sweden was the only Member State where there was a decline (-0.6pp), while the highest year-over-year increase was observed for Ireland (+22.0 pp), followed by Spain (+13.7 pp).

    The increase in the household saving rate in the majority of the countries with available data is mainly explained by the large decrease in household individual consumption expenditure.

    The largest decreases in household expenditure were observed for Spain (-23.9%) and Ireland (-22.8%), while the lowest decreases were noted in Czechia (-4.4%) and Denmark (-7.7%).

  • EU to impose additional tariffs on „Made in USA” products

    EU to impose additional tariffs on „Made in USA” products

    The European Union will impose additional tariffs on American products, European Commission Vice President Valdis Dombrovskis announced on Monday, AFP and DPA reported.

    On October 26, the World Trade Organization (WTO) formally authorized the European Union to impose additional tariffs on US products worth nearly four billion dollars (3.37 billion euros).

    Europe has already prepared a long list of US products that could be targeted by the new tariffs, a list that includes airplanes, wines, spirits, tractors, frozen fish and frozen orange juice.

    Last month’s WTO decision, to the benefit of the EU, comes about a year after the institution granted the US the right to impose additional tariffs on European products worth $ 7.5 billion, due to illegal subsidies granted by the European Union to Airbus.

  • EU new cars market: Hybrids at a 12.4% market share in Q3 2020

    EU new cars market: Hybrids at a 12.4% market share in Q3 2020

    In the third quarter of 2020, almost one in 10 passenger cars sold in the EU was an electrically-chargeable vehicle (9.9%), compared to 3.0% during the same period last year.

    During the third quarter, cars powered by conventional internal combustion engines lost further ground, with their overall market share going down from 88.6% in July-September 2019 to 75.4% this year.

    Diesel cars accounted for 27.8% of total passenger car sales in the European Union, with registrations falling by 13.7% to 766,146 units.

    Petrol sales posted an even stronger drop (-24.3%), going from over 1.7 million units last year to 1.3 million units in the third quarter of 2020.

    This represents a market share of 47.5%, with petrol going below the mark of 50% for the first time since 2016.

    With the exception of Cyprus, all EU markets saw declines in demand for petrol cars during the three-month period, including the four major markets.

    From July to September 2020, registrations of electrically-chargeable vehicles (ECV) more than tripled (+211.6%) to reach 273,809 units and a market share of 9.9%.

    This strong growth is mainly due to the introduction of incentives by national governments, seeking to boost demand in response to the corona crisis, which has been largely to the benefit of buyers of battery and plug-in electric cars.

    As a result, demand for plug-in hybrids (PHEV) boomed (+368.1%) during the third quarter, going from 29,557 units last year to 138,348 new cars sold in 2020. Both Germany and France recorded percentage increases of over 400% each.

    Growth in registrations of battery electric vehicles (BEV) was also strong across the European Union (+132.3%), totalling 135,461 units over the three-month period.

    Hybrid electric vehicles (HEV) remained the bestselling alternatively-powered vehicle type in the EU, posting an increase of 88.8% in the third quarter of the year.

    In total, 341,092 hybrid electric cars were sold from July to September 2020, representing 12.4% of the EU car market.

  • France and Spain produced the most pumpkins and gourds in 2019 in EU

    France and Spain produced the most pumpkins and gourds in 2019 in EU

    In 2019, about 25.000 hectares across the European Union were devoted to cultivating pumpkins and other types of gourd, Eurostat reports.

    The EU Member States which produced the most pumpkins and gourds in 2019 were France (129.400 tonnes) and Spain (129.100 tonnes).

    They followed by Germany (86.000 tonnes), Portugal (72.700 tonnes) and Poland (68.500 tonnes).

    In 2019, the EU exported 21.700 tonnes of pumpkins, squash and gourds outside the EU, 64% more than in 2012. These exports were mainly to the United Kingdom in 2019 (63%), followed by Switzerland (16%) and Israel (11%).

    Spain exported the most pumpkins, squash and gourds to non-EU countries (36% of the extra-EU exports in volume) in 2019, closely followed by Portugal (30%), ahead of France (12%) and Greece (10%).

    In 2019, the EU imported 31.100 tonnes of pumpkins, squash and gourds from abroad, 81% more than in 2012. The highest share of the imports in 2019 came from South Africa (17%), followed by Panama (11%), Morocco (10%), the United Kingdom and Argentina (9% each) as well as Brazil (8%).

  • Total EU fish catch in 2019 at 4.1 million tonnes live weight

    Total EU fish catch in 2019 at 4.1 million tonnes live weight

    The total EU fish catch in 2019 was about 4.1 million tonnes live weight. Spain’s fishing fleet accounted for about one fifth of all EU catches (0.8 million tonnes), Eurostat reports.

    A little more than one quarter of the EU total is coming from the combined catches of Denmark (0.6 million tonnes) and France (0.5 million tonnes).

    70% of the total EU catch was taken in the Atlantic, Northeast area

    The key species caught in the Atlantic, Northeast area were small fish such as herring (21% of the live weight caught in this region), sprat (15%), blue whiting (10%) and mackerel (8%).

    About one fifth of the EU’s total live weight catch in this area was made by the fishing fleet of Denmark (22%), with a further one quarter coming from the combined catches of France (14%) and the Netherlands (11%). 

    About 11% of the total EU catch was taken in the Mediterranean and Black Sea, the key species caught being sardines (24%) and anchovies (17%).

    Two-fifths of the total EU catch in this region was made by Italy (40%), with Greece (19%), Spain (17%) and Croatia (15%) accounting for the vast majority of the rest.

    About 7% of the total EU catch was taken in the Atlantic, Eastern Central area.

    The main catches in this area were skipjack (20%) and yellowfin tuna (17%), sardines (14%) and mackerel (13%).

    Among Member States, Spain (37%) and Lithuania (21%) accounted for the majority of catches, with much of the rest being made by the fleets of France and Latvia.

    Almost 7% of the total EU catch was taken in the Indian Ocean, Western area.

    Fishing here was focussed on tuna; 96% of the total live-weight caught by the EU fishing fleet was tuna, particularly skipjack, yellowfin and bigeye.

    More than two-thirds of the EU total catch was by Spain (70%), and most of the rest by France (27%).

    Only 5% of the total EU catch was taken in three remaining marine areas

    The main species caught in these areas were the following: hake (72% of the EU’s area catch) in the Atlantic, Southwest area; blue sharks (42% of the EU’s area catch) and skipjack tuna (14%) in the Atlantic, Southeast area; and redfish (38% of the EU’s area catch), cod (20%) and halibut (17%) in the Atlantic, Northwest area.

  • The European Union wants to renovate 35 million buildings by 2030

    The European Union wants to renovate 35 million buildings by 2030

    The European Commission announced on Wednesday its intention to double the rate of buildings renovation in the next ten years, in order to increase their energy efficiency and accelerate the transition to climate neutrality, DPA reports.

    This would mean that by 2030 35 million buildings could be renovated and up to 160.000 additional ”green” jobs could be created in the construction sector.

    Buildings are currently responsible for around 40% of EU energy consumption and 36% of greenhouse gas emissions. However, only 1% of buildings are subject to energy-efficient renovations each year.

    In order to meet the Commission’s September 2020 target of reducing emissions by at least 55% by 2030, the EU must reduce its greenhouse gas emissions by 60%, energy consumption by 14% and energy consumption by heating and cooling by 18%.

  • How satisfied are European citizens of their life in cities around EU

    How satisfied are European citizens of their life in cities around EU

    The European Commission released a report on Tuesday on the quality of life in European cities. Cities are home to about 40% of the EU’s population.

    In the top 10 cities where citizens are satisfied with the noise level are those in northern Europe. The most satisfied are the citizens of Oulu (Finland), in proportion of 88%, followed by those from Malmö (Sweden), Dublin (Ireland) and Aalborg (Denmark), with 86%.

    On the other hand, the least satisfied with the noise level are the residents of Bucharest (Romania), in proportion of 31%, Palermo (Italy), with 32% and Athens (Greece), with 33%.

    Residents of Zurich (Switzerland) are the most satisfied with air quality (93%), compared to 13% for those living in Skopje (Northern Macedonia).

    Also in the top of the most satisfied citizens with air quality, with over 85%, are those from Oulu and Helsinki (both from Finland), Aalborg (Denmark) and Białystok (Poland).

    Six out of ten city residents are satisfied with the cleanliness of the city where they live (62%). The percentage is below average in cities in the south of the EU (47%), in the Western Balkans and Turkey (54%).

    On average, the citizens of the European capitals are less satisfied than those who do not live in the capitals. Satisfaction also decreases depending on the size of the city, air quality and noise. The percentage of citizens satisfied with the cleanliness of the city where they live varies from 94% in Luxembourg to less than 10% in Palermo and Rome.

    Three out of four city residents in EU are satisfied with public transport

    Three out of four city residents are satisfied with public transport, although the figures range from just 22% in Palermo to 97% in Zurich.

    Besides Palermo, the least satisfied with public transport are the inhabitants of Rome (Italy, 26%), Tirana (Albania, 30%), Naples (Italy, 31%), Podgorica (Montenegro, 36%), Belgrade (Serbia, 40%), Nicosia (Cyprus, 51%), Oulu (Finland, 52%), Bucharest (Romania, 53%) and Diyarbakir (Turkey, 55%).

    Also, eight out of ten citizens are satisfied with the public spaces (squares, squares, pedestrian areas) in the city, and the least satisfied are those in Athens (Greece, 35%), Valletta (Malta, 44%), Palermo (Italy, 47%), Naples (Italy, 49%), Heraklion (Greece, 51%), Skopje (Northern Macedonia, 51%), Rome (Italy, 54%), Bucharest (Romania, 56%), Istanbul (Turkey, 56%) and Nicosia (Cyprus, 57%).

    Residents in Zurich are very satisfied with local health care services

    Seven out of ten residents are satisfied with local health care services, with the highest percentage being in Zurich (Switzerland, 94%) and Groningen (Netherlands, 93%).

    The least satisfied are in Skopje (Northern Macedonia, 35%), Athens (Greece, 35%), Palermo (Italy, 38%), Warsaw (Poland, 41%), Belgrade (Serbia, 41%), Budapest (Hungary, 41%), Miskolc (Hungary, 41%), Bucharest (Romania, 44%), Burgas (Bulgaria, 45%) and Naples (Italy, 45%).

  • Rents up by 14.2%, house prices by 25.0% since 2010 in EU

    Rents up by 14.2%, house prices by 25.0% since 2010 in EU

    Over the period 2010 until the second quarter of 2020, rents increased by 14.2% and house prices by 25.0% in the European Union, Eurostat reports.

    When comparing the second quarter of 2020 with 2010, house prices increased more than rents in 16 EU Member States.

    House prices increased in 23 Member States and decreased in four, with the highest rises in Estonia (+100.5%), Luxembourg (+85.8%), Latvia (+77.3%) and Austria (+75.9%).

    Decreases were observed in Greece (-31.0%), Italy (-13.2%), Spain (-5.6%) and Cyprus (-3.0%).

    Different pattern for rents

    When comparing the second quarter of 2020 with 2010, prices increased in 25 EU Member States and decreased in two, with the highest rises in Estonia (+135.8%), Lithuania (+105.4%) and Ireland (+62.3%).

    Decreases were recorded in Greece (-25.2%) and Cyprus (-4.8%).

  • Romania remains the worst place to live in the European Union

    Romania remains the worst place to live in the European Union

    Romania ranks again 45th out of 163 countries and is surpassed by all the other EU member states, according to the 2020 Social Progress Index, which analyzes the quality of life and social wellbeing and is conducted by the Social Progress Imperative with the support of Deloitte.

    Romania registers a score of 78.35 points out of 100, slightly higher than last year, which places it among the ranking’s third category countries, after Barbados, Bulgaria and Mauritius.

    In the global ranking, Romania is in the top 50 countries in two of the three analyzed categories, basic needs (45th place) and opportunities (49th place), while in the wellbeing category it ranks 57th.

    Analyzing the values assigned for each of the coordinates falling into these three categories, our country obtained the best scores for personal safety (36th place), personal rights (46th place), access to advanced education (49th place) and access to communications and information (49th place).

    On the other hand, the coordinates analyzed for Romania that recorded lower scores are inclusiveness (91st place), shelter (90th place), health and wellness (85th place).

    Norway continues to rank first in the world

    In 2020, Norway, Denmark and Finland occupy the first places in the ranking, while Central African Republic, Chad and South Sudan are on the last positions.

    The EU member states, except Croatia, Hungary, Bulgaria and Romania, are in the first two categories of countries in the ranking, with a good quality of life.

    Among the Central and Eastern Europe countries, the best place is occupied by Slovenia (22), followed by Estonia (24), the Czech Republic (25), Poland (31), Lithuania (32), Latvia (35), Slovakia (36), Croatia (39), Hungary (40), Bulgaria (43) and Romania (45).

    Overview of index changes in the last ten years

    The global average on social progress increased from 60.63 out of 100 in 2011, to 64.24 in 2020.

    Between 2011 and 2020, 155 of the analyzed countries experienced an improvement of at least one point in the quality of life and social wellbeing, while 42% of them improved by five or more points. The United States, Brazil and Hungary are the only three countries that have seen a decline in the social progress index during this period.

    Since 2011 until now, the coordinates that have improved globally are access to information and communications, access to advanced education, shelter and water and sanitation.

    Personal rights and inclusiveness are among the indicators that have declined over the reviewed period, while personal safety and environmental quality have stagnated.

    How the Social Progress Index (SPI) is made

    The Social Progress Index (SPI) measures the quality of life and social wellbeing of citizens from 163 countries, based on the analysis of three main dimensions.

    The methodology consists of assigning a score for basic needs categoryitems – nutrition and basic medical care, water and sanitation, shelter and personal safety -, for wellbeing categoryitems- access to basic knowledge, access to information and communications, health and wellness, environmental quality – and for opportunities category – personal rights, personal freedom and choice, inclusiveness, access to advanced education. Based on the score, the countries in the ranking are grouped into six categories arranged in descending order.