Money Buzz! Europa

Tag: eu

  • Which European country imported the most face masks?

    Which European country imported the most face masks?

    Comparing the first semester of 2019 with the first semester of 2020, the value of EU imports of face masks grew dramatically, from €800 million to €14 billion; an increase of 1800%, as Eurostat reports.

    In EU, Luxembourg, with a government policy of nationwide distribution of face masks, had by far the highest per capita imports of face masks at €121 per person.

    Belgium, Germany and France were the only other countries with imports above €50 per person. In contrast, imports were below €10 per person in Cyprus, Poland, Sweden, Croatia, Greece and Bulgaria.

    China was the main EU partner for the import of face masks, supplying 92% of face masks in the first semester of 2020, up by 30 percentage points compared to the first semester 2019.

    With the exception of Hong Kong, the other top-6 EU import partners all lost market share. In the first semester of 2020, only Vietnam and Hong Kong supplied more than 1% of total EU face mask imports. The United Kingdom, Turkey and Tunisia all had a share of 0.7%.

  • Euro area unemployment at 8.1% in August 2020

    Euro area unemployment at 8.1% in August 2020

    In August 2020, the euro area seasonally-adjusted unemployment rate has continued to rise for 5 consecutive months, reaching 8.1%.

    The same trend has applied to the EU unemployment rate that reached 7.4% in August, show the latest figures published by Eurostat.

    Eurostat estimates that 15.603 million men and women in the EU, of whom 13.188 million in the euro area, were unemployed in August 2020.

    Compared with July 2020, the number of persons unemployed increased by 238.000 in the EU and by 251.000 in the euro area.

    In August 2020, 3.032 million young persons (under 25) were unemployed in the EU, of whom 2.460 million were in the euro area. In August 2020, the youth unemployment rate was 17.6% in the EU and 18.1% in the euro area, up from 17.4% and 17.8% respectively in the previous month.

    Compared with July 2020, youth unemployment increased by 64.000 in the EU and by 69.000 in the euro area.

    In August 2020, the unemployment rate for women was 7.6% in the EU, up from 7.5% in July 2020.

    The unemployment rate for men was 7.1% in August 2020, stable compared with July 2020.

  • 98% of Romanian pupils learned more than two languages in school

    98% of Romanian pupils learned more than two languages in school

    In the EU, 48% of the pupils in upper secondary education studied more than two languages in 2018. This share was higher than 80% in Romania (98%), Finland (94%), the Flemish community of Belgium (84%) and Luxembourg (82%).

    On the other end of the ranking, in Greece, only 1% of the students in upper secondary education studied more than 2 languages in 2018, Eurostat shows.

    English is the most commonly studied foreign language in the EU

    Almost 87% of pupils learned English in upper secondary education in 2018. English was followed by French (19%), German and Spanish (both around 18%). 

    In 2018, in all EU Member States more than 65% of students enrolled in upper secondary education were learning English as a foreign language, with the exception of Denmark (57%).

    Russian was the most commonly non-EU language learned in 2018 (2%) especially in Latvia (48%), Estonia (44%), Bulgaria and Lithuania (both around 26%). 

  • Passenger car registrations in Europe: -32% in the first eight months

    Passenger car registrations in Europe: -32% in the first eight months

    Over the first eight months of 2020, EU demand for passenger cars contracted by 32.0%. In total, 6.123.852 new cars were registered across the European Union from January to August, almost 2.9 million less than during the same period last year.

    In total, 6,123,852 new cars were registered across the European Union from January to August, almost 2.9 million less than during the same period last year.

    Among the EU’s largest markets, Spain saw the biggest decline (-40.6%) so far this year, followed by Italy (-38.9%), France (-32.0%) and Germany (-28.8%).

    During the month of August the EU car market posted a stronger decline (-18.9%) again, although less dramatic than earlier in the year.

    With the exception of Cyprus (+14.1%), all countries in the region recorded losses compared to August 2019.

    Looking at the four major EU markets, Italy performed best, with a slight drop of 0.4%, while the strongest declines were seen in Germany (-20.0%) and France (-19.8%).

    Data was provided by The European Automobile Manufacturers’ Association (ACEA).

  • European mayors to launch ”European Capital of Democracy” initiative

    European mayors to launch ”European Capital of Democracy” initiative

    This Friday, 18 September, mayors from various European countries will launch the Europe-wide initiative ”European Capital of Democracy” in Vienna.

    By launching the ”European Capital of Democracy Initiative”, mayors and international organisations want to make a real contribution to strengthening democracy in Europe.

    From 2021 onwards, each year one city will be awarded the title and thereby implement a comprehensive programme to strengthen democracy.

    Furthermore, international organisations will be invited to contribute by implementing activities in the respective city – international conferences, cultural festivals, educational programmes, summer camps for young citizens and much more.

    The initiative was founded by the Innovation in Politics Institute together with international partners.

    Who are the participants at the online launch Round Tables

    • Dubravka Šuica, Vice-President for Democracy and Demography, European Commission;
    • Kostas Bakoyannis, Mayor of Athens, Greece;
    • Jürgen Czernohorszky, Executive City Councillor for Education, Integration, Youth and Personnel of Vienna, Austria;
    • Aleksandra Dulkiewicz, Mayor of Gdansk, Poland;
    • Yordanka Fandakova, Mayor of Sofia, Bulgaria;
    • Peter Feldmann, Lord Mayor of Frankfurt am Main, Germany;
    • Zdeněk Hřib, Lord Mayor of Prague, Czech Republic;
    • Gergely Karácsony, Lord Mayor of Budapest, Hungary;
    • Hermano Sanches Ruivo, Deputy Mayor for European Affairs, Paris, France;
    • Rafał Trzaskowski, Mayor of Warsaw, Poland;
    • Matúš Vallo, Mayor of Bratislava, Slovakia;
    • Erion Veliaj, Mayor of Tirana, Albania.
  • Tourism services in EU down by 75% in June compared with February

    Tourism services in EU down by 75% in June compared with February

    In June 2020, the tourism services sector fell by 75.0 %. Travel agencies and tour operators fell the most (-83.6%), followed by air transport (-73.8%), accommodation (-66.4%) and restaurants (-38.4%).

    Due to the opening up of restaurants and similar establishments, a recovery was observed in June compared with April.

    The restaurant sector had the largest recovery, followed by the accommodation sector. Air transport had only a slight recovery, while the travel agencies and tour operators sector was on the same level in June as in April.

    The accommodation sector in the EU had a value added of EUR 79.0 billion in 2017, corresponding to a share of 1.3% of value added of the non-financial business economy.

    Restaurants had a value added of EUR 96.4 billion, with a share of 1.6%. The corresponding shares for employment were 1.9% and 4.0%.

    Air transport and travel agencies and tour operator activities had shares of 0.5% and 0.3% respectively of value added of the non-financial business economy. The share of employment for air transport was 0.2%.

  • 6 out of 10 countries with highest national debt-to-GDP ratio are EU nations

    6 out of 10 countries with highest national debt-to-GDP ratio are EU nations

    Data presented by Buy Shares shows that six European Union countries make up the top ten nations with a highest National-to-GDP ratio.

    From the research, Japan has the highest ratio at 268.21%.

    U.S. debt continues to spike 

    Greece is second with a ratio of 214.29% while the Itlay is third at 156.92%. The United States has the fifth highest debt-to-GDP ratio at 136.69% while the United Kingdom is tenth at 100.87%.

    The Buy Shares report also overviewed countries with the highest GDP and also the highest national debt.

    As of September 3rd, the United States has the highest GDP $19.54 trillion followed by China at $14.57 trillion. Japan’s GDP almost five times less compared to the US at $4.53 trillion.

    Under national debt, the United States is on top with $26.71 trillion. The debt is almost double compared to second-placed Japan with a debt of $12.15 trillion.  China has the third highest national debt globally at $7.32 trillion.

    The US national debt continues to spiral to historical levels threatening the economy. According to the research report:

    The U.S. is among countries that pumped more money into the economy to mitigate the impact of the coronavirus pandemic.

  • Euro area unemployment registered a slight increase and sits at 7.9%

    Euro area unemployment registered a slight increase and sits at 7.9%

    In July 2020 the euro area seasonally-adjusted unemployment rate was 7.9%, up from 7.7% in June 2020.

    The EU unemployment rate was 7.2% in July 2020, up from 7.1% in June 2020, shows Eurostat.

    Eurostat estimates that 15.184 million men and women in the EU, of whom 12.793 million in the euro area, were unemployed in July 2020.

    Compared with June 2020, the number of persons unemployed increased by 336.000 in the EU and by 344.000 in the euro area.

    The unemployment rate for women was 7.5% in the EU, up from 7.3% in June 2020. The unemployment rate for men was 7.0% in July 2020, up from 6.8% in June 2020.

    In the euro area, the unemployment rate for women increased from 8.0% in June 2020 to 8.3% in July 2020 while it increased from 7.5% to 7.6% for men.

  • EU electricity consumption down by 10.5% in May 2020

    EU electricity consumption down by 10.5% in May 2020

    Eurostat May data show lower electricity consumption in most Member States. The total EU electricity consumption in May 2020 was 10.5% lower than the lowest May value recorded between 2016 and 2019.

    Electricity consumption in May 2020 showed very low levels in a number of countries, in particular in Spain and Poland (both -13.7% compared with May 2019), Slovenia (-13.4%), Croatia (-11.9%), Romania (-11.8%) and Portugal (-11.6%).

    A further nine Member States showed reductions of 5% to 10%, while for six Member States the drop was between 1% and 5%.

    In two Member States (Bulgaria and Latvia) the situation was stable (+/- 1%), while in the remaining four Member States electricity consumption grew.

  • Germany was the EU’s main producer of ice cream in 2019

    Germany was the EU’s main producer of ice cream in 2019

    In 2019, the EU produced more than 3 billion litres of ice cream, representing a 6% increase from the previous year, Eurostat says.

    Over the same period, EU Member States exported 222 thousand tonnes of ice cream to non-EU countries, worth a total of €723 million. In addition, imports of ice cream from countries outside the EU amounted to 82 thousand tonnes, worth a total of €180 million.

    Germany was the EU’s main producer of ice cream

    Among the EU Member States, Germany was the main producer of ice cream in 2019, producing 635 million litres of ice cream (amounting to 21% of the EU’s total ice cream production).

    Italy produced 554 million litres (18% of the EU’s total ice cream production). Meanwhile 2018 data show that France produced 451 million litres that year (or 15% of total production in 2019).

    France exported the most ice cream to countries outside the EU

    France exported a total of 55 thousand tonnes of ice cream in 2019, accounting for 25% of total extra-EU ice cream exports.

    This made it the largest ice cream exporter out of all EU Member States, ahead of the Netherlands (which exported 35 thousand tonnes of ice cream, or 16% of total extra-EU exports), Germany (29 thousand tonnes, or 13%), Italy (18 thousand tonnes, or 8%) and Spain (16 thousand tonnes, or 7%).

    UK main destination and source of EU’s exports and imports of ice cream

    The United Kingdom (UK) was the main destination for the EU’s exports of ice cream to non-EU countries. The EU Member States exported 128 thousand tonnes of ice cream to the UK (58% of total extra-EU ice cream exports).

    Other main destinations were Switzerland (12 thousand tonnes, or 5%) and China (7 thousand tonnes, or 3%).

    Imports of ice cream from non-EU countries came mainly from the United Kingdom (57 thousand tonnes of ice cream, or 70% of extra-EU ice cream imports), Serbia (16 thousand tonnes, or 19%) and Switzerland (2 thousand tonnes, or 2%).

  • EU member states exported almost 1 million bicycles and other cycles

    EU member states exported almost 1 million bicycles and other cycles

    In 2019, EU member states exported almost 1 million bicycles and other cycles, worth a total of €368 million, to countries outside of the EU.

    This represents a 24% increase in numbers compared with 2012, says Eurostat.

    Over the same period, EU member states imported over 5 million bicycles, worth €942 million, from countries outside the EU. Compared with 2012, this represents a decrease of 12%.

    EU states exported almost 200.000 electric bicycles

    In addition, EU member states exported 191.900 electric bicycles worth €272 million in 2019 (the data include bicycles with pedal assistance and an auxiliary electric motor with a continuous rated power less than 250 W).

    Meanwhile, they imported 703.900 electric bicycles, worth €594 million, from countries outside the EU.

    Compared with 2012, the number of exported electric bicycles was almost twelve times higher in 2019, while imports of electric bicycles doubled.

    Main extra-EU destinations: the UK and Switzerland

    In 2019, the United Kingdom was the main destination of EU bicycles (36% of total extra-EU bicycle exports), followed by Switzerland (18%), ahead of Turkey (6%), Uzbekistan and Norway (both 4%).

    Meanwhile, Switzerland and the United Kingdom were the main destinations for EU exports of electric bicycles (33% and 29% of total extra-EU electric bicycle exports respectively), followed by Norway (15%) and the United States (13%).

    A quarter of EU’s imported bicycles from Cambodia, a half of electric bicycles from Taiwan

    In 2019, imports of bicycles from non-EU countries came mainly from Cambodia (24% of total extra-EU bicycle imports), Taiwan (15%) and China (14%), followed by Philippines (9%), Bangladesh and Sri Lanka (both 7%).

    While imports of electric bicycles into the EU came primarily from Taiwan (52% of total extra-EU electric bicycle imports), followed by Vietnam (21%), China (13%) and Switzerland (6%).

  • Young people in the EU left the parental household at the age of 26.2 years

    Young people in the EU left the parental household at the age of 26.2 years

    In 2019, the share of young people aged 25 to 34 who were living with their parents ranged across the EU Member States from less than 10% in Denmark (4.0%), Finland (4.8%) and Sweden (5.7%), to more than half in Slovakia (56.4% in 2018), Greece (57.8%) and Croatia (62.0%).

    On average, young people in the EU left the parental household at the age of 26.2 years in 2019. However, this age varied significantly across the EU Member States, Eurostat shows.

    In 2019, young people left home earliest in the three northern Member States – Sweden (17.8 years), Denmark (21.1 years) and Finland (21.8 years), as well as in Luxembourg (20.1 years).

    Young people also left home before the age of 25 in Estonia (22.2 years), France (23.6 years), Germany and the Netherlands (both with 23.7 years).

    In the southern EU Member States young people move out at around 30

    At the other side of the scale, young adults in Croatia and Slovakia remained the longest in the parental household. They left home on average at the age of 31.8 and 30.9 years respectively.

    Young adults in Italy (30.1 years), Bulgaria (30.0 years), Malta (29.9 years), Spain (29.5 years), Portugal (29.0 years) and Greece (28.9 years) also remained with their parents for longer.

    Men stay longer at parental home than women

    In almost all EU Member States, young women tended to leave the parental household earlier than men. The only exception was Luxembourg (20.3 years for women, compared with 20.0 years for men).

    The largest differences between the genders were registered in Romania (25.7 years for women, compared with 30.3 for men), Bulgaria (27.6 vs. 32.1), Croatia (29.9 vs. 33.6), Latvia (24.8 vs. 28.1), Hungary (25.8 vs. 28.5) and Slovakia (29.6 vs. 32.1).