Money Buzz! Europa

Tag: eu

  • Portugal is the biggest producer of bicycles in European Union

    Portugal is the biggest producer of bicycles in European Union

    In 2019, the EU produced over 11.4 million bicycles. This represents a 5% increase on the previous year and 10% higher than the number produced in 2014.

    The total production of bicycles peaked at 13.7 million in 2015, 17% higher than the number produced in 2019.

    Among EU Member States, Portugal was the largest producer of bicycles in 2019, manufacturing 2.7 million bicycles, followed by Italy (2.1 million), Germany (1.5 million), Poland (0.9 million) and the Netherlands (0.7 million).

    These five countries together accounted for 70% of total EU production of bicycles in 2019.

  • Retail trade volumes back to February 2020 levels in Europe

    Retail trade volumes back to February 2020 levels in Europe

    In June 2020, a month marked by some relaxation of COVID-19 containment measures in many EU member states, the volume of retail trade increased by 5.2% compared with May 2020 and by 1.3% compared with the previous year.

    Overall, retail trade volumes returned to the levels recorded in February 2020, before the start of the containment measures, although the trend varies across product groups.

    In June 2020, the sales of food, drinks and tobacco were similar to their February levels (1.3% below February 2020), whereas for some non-food product groups there was still a sizeable gap between now and before the COVID-19 containment measures.

    In particular, June sales of textiles, clothing and footwear accounted for only about three quarters of what was sold in February (22.4% below February 2020).

    Although to a smaller extent, June sales of automotive fuels (-12.5%), computer equipment and books (-8.3%) as well as pharmaceutical and medical goods (-5.9%) also remained below their February 2020 levels.

    In contrast, mail orders and internet volume increased by 17.4% compared to February 2020.

  • Impact of COVID-19 on household consumption and savings in EU

    Impact of COVID-19 on household consumption and savings in EU

    Eurostat shows that the household saving rate in the EU recorded its all-time highest year-over-year increase in the first quarter of 2020 (+3.5 percentage points (pp) compared with the first quarter of 2019).

    The main reason is the marked year-over-year decrease of household final consumption expenditure (-1.7%), in stark contrast with its recent increases above 2%.

    Additionally, the increase of household gross disposable income (+2.4%) also contributed to the increase of the saving rate.

    The household saving rate has increased in all EU Member States for which data are available for the first quarter of 2020. Among the EU Member States, the highest year-over-year increase was observed in Slovenia (+7.7 pp), followed by Poland (+6.8 pp) and Spain (+6.7 pp).

    In contrast, the lowest increase was recorded in Sweden (+1.1 pp), Czechia (+2.0 pp) and Germany (+2.2 pp).

    The largest decreases of household expenditure were observed in Italy (-6.4%), Slovenia (-5.3%) and Spain (-5.2%).

    On the other hand, in six EU Member States, the household individual consumption expenditure increased when compared with 2019Q1, the largest increases in Poland (+5.1%) and Czechia (+4.0%).

  • Sharpest drop of household real consumption per capita in EU

    Sharpest drop of household real consumption per capita in EU

    In the first quarter of 2020 household real consumption per capita dropped by 3.0% in the euro area, after a decrease of 0.4% in the previous quarter.

    This decline is the highest since the beginning of the Eurostat time series in 1999.

    Household real income per capita increased in the first quarter of 2020 by 1.1%, after a decrease of 1.1% in the fourth quarter of 2019.

    In the EU household real consumption per capita decreased by 2.9% in the first quarter of 2020, after a decrease of 0.2% in the previous quarter.

    Household real income per capita increased by 1.2% in the first quarter of 2020, after a decrease of 1.0% in the fourth quarter of 2019.

    Household saving rate significantly up

    In the first quarter of 2020, the saving rate increased in both the euro area and the EU by 4.3 percentage points, compared to the fourth quarter of 2019.

    The household saving rate increased in all Member States, for which data are available for the first quarter of 2020.

    The highest increases were observed in Belgium, Denmark and the Netherlands, and the lowest in Poland, Sweden and Czechia.

    For all but two Member States, the increase of the saving rate was explained by the strong decrease of individual consumption expenditure.

    The drop in the individual consumption expenditure of households was the most pronounced in Italy, Spain and Belgium, followed by France. At the same time, the gross disposable income varied, increasing in Poland, Denmark, Czechia, Ireland, the Netherlands and Finland and decreasing in Spain, Italy, Portugal, Germany and Austria.

    Household investment rate down

    In the first quarter of 2020 the investment rate decreased by 0.2 percentage points for the euro area and 0.3 percentage points in the EU.

    Among the Member States for which data are available for the first quarter of 2020, the decrease in investment rate of households was the highest in Spain, France and Belgium.

    Seven Member States recorded an increase in the household investment rate, the highest being observed in Germany, the Netherlands and Denmark.

  • Half of batteries sold in EU are collected for recycling

    Half of batteries sold in EU are collected for recycling

    Over recent years, sales of portable batteries and accumulators in the EU remained relatively stable: from 176.000 tonnes in 2010, the amounts fell slightly to 169.000 tonnes in 2013, before rising steadily to 191.000 tonnes in 2018.

    In contrast, collection of waste batteries and accumulators in the EU steadily increased from 55.000 tonnes in 2010 to 88.000 tonnes in 2018.

    As a result, the collection rate of portable batteries and accumulators gradually increased from 35% in 2011 to 48% in 2018.

    Among the EU Member States, Croatia recorded the highest collection rate of portable batteries and accumulators (96%) in 2018 and was followed by Poland (81%), Luxembourg (69%), Belgium (62%) and Slovakia (58%).

    In contrast, the lowest rates were recorded in Estonia (30%), Cyprus (30%, 2017 data) and Portugal (31%).

  • 29% of Europeans can’t afford a week’s holiday

    29% of Europeans can’t afford a week’s holiday

    In 2019, 29% of residents of EU Member States aged 16 or over were unable to afford paying for an annual one-week holiday away from home.

    This share has gradually decreased since 2010, when 39% of Europeans could not afford to take a week holidaying away from their home. However, due to lockdowns and border closure implemented across the world in 2020 to slow down the rapid spread of the coronavirus, this downward trend is likely to halt in 2020.

    Among EU Member States, Romania recorded the highest share of individuals in this situation, with the majority of Romanians (54%) being unable to afford a one-week annual holiday in 2019.

    Residents of Greece came second, with 49% not being able to take a one-week holiday away from home, followed by Croatia (48%), Cyprus (45%) and Italy (44%).

    In contrast, at the lower-end of the scale, only 10% of people in Sweden were unable to afford a one-week annual holiday, followed by Denmark and Luxembourg (both 11%), Finland (12%), Germany and Austria (both 13%).

    Compared with 2010, the percentage of people who were unable to afford a one-week holiday away from home each year declined across all Member States, with the exception of Italy and Greece where it increased 4 percentage points (pp) and 3 pp respectively.

    The largest declines were recorded in Latvia (-35 pp), Malta (-30 pp), Bulgaria and Poland (both -27 pp) and Estonia (-26 pp).

  • 42% of births in the European Union are outside marriage

    42% of births in the European Union are outside marriage

    Eurostat shows that the proportion of live births outside marriage in the EU stood at 42% in 2018. This is 17 percentage points above the value in 2000.

    It signals new patterns of family formation alongside the more traditional model where children were born within a marriage. Extramarital births occur in non-marital relationships, among cohabiting couples and to lone parents.

    In 2018, extramarital births outnumbered births inside marriages in eight EU Member States: France (60%), Bulgaria (59%), Slovenia (58%), Portugal (56%), Sweden (55%), Denmark and Estonia (both 54%) as well as the Netherlands (52%).

    Greece and Croatia were at the other end of the spectrum along with Lithuania and Poland as more than 70% of births in each of these Member States occurred within marriages.

    Extramarital births increased in almost every EU Member State in 2018 compared to 2000

    The exceptions are Estonia, Latvia and Sweden that remained relatively stable with less than 1 percentage point decrease.

    The Iberian countries, Portugal and Spain, were the two countries where births outside marriage rose the most between 2000 and 2018 (+33.7 and +29.6 percentage points respectively).

  • Moldova acquire 12 new locomotives using european funds

    Moldova acquire 12 new locomotives using european funds

    Twelve modern diesel locomotives purchased by Moldova’s state-owned railway company Calea Ferată din Moldova (CFM) thanks to joint financing from the European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB) and the European Union (EU) arrived in Chisinau.

    The new rolling stock was manufactured in Nur-Sultan, Kazakhstan, by GE Transportation, now a division of the US company Wabtec, a leading supplier of freight car and locomotive products.

    GE Transportation was contracted following a tender held by CFM in 2018 in line with EBRD procurement policies and rules.

    The acquisition of the locomotives is part of a large project financed by the EBRD, EIB and EU that also includes the rehabilitation of railway infrastructure and comprehensive reform of CFM to improve safety, efficiency and corporate governance.

    The total project cost is €110 million, of which €5 million is an investment grant from the EU’s Neighbourhood Investment Facility (NIF) and the remainder from loans by the EBRD and EIB.

  • European Union: Rents up by 20.8%, house prices by 20.5% since 2007

    European Union: Rents up by 20.8%, house prices by 20.5% since 2007

    House prices and rents in the EU-27 have followed very different paths since 2007. While rents increased steadily throughout the period up to the first quarter of 2020, house prices have fluctuated significantly, says Eurostat.

    After an initial sharp decline following the financial crisis, house prices remained more or less stable between 2009 and 2014. Then there was a rapid rise in early 2015, since when house prices have increased at a much faster pace than rents.

    Over the period 2007 until the first quarter of 2020, rents increased by 20.8% and house prices by 20.5%.

    House prices decreased in six EU Member States

    When comparing the first quarter of 2020 with 2007, house prices increased in 21 EU Member States and decreased in 6, with the highest rises in Luxembourg (+91.4%), Austria (+91.3%) and Sweden (+82.8%).

    The largest decreases are in Greece (-35.6%), Romania (-23.6%) and Ireland (-17.5%).

    For rents, the pattern was different. When comparing the first quarter of 2020 with 2007, prices increased in 26 EU Member States and decreased in one, with the highest rises in Lithuania (+101.8%), Czechia (+82.2%) and Hungary (+75.1%) and the only decrease in Greece (-17.5%).

  • Germany is the top exporter of chocolate and chocolate bars in Europe

    Germany is the top exporter of chocolate and chocolate bars in Europe

    2.2 million tonnes of chocolate and chocolate bars were exported by the EU Member States in 2019, 66% of which went to other EU Member States, Eurostat shows.

    The top chocolate and chocolate bar exporters were Germany (640.000 tonnes or 30%), followed by Belgium (300.000 tonnes or 14%), the Netherlands (290.000 tonnes or 13%), Poland (230.000 tonnes or 10%) and Italy (180.000 tonnes or 8%).

    These five EU Member States exported three quarters of the total EU chocolate and chocolate bars.

    220 000 tonnes were imported by the EU Member states from non-EU countries, of which 100 000 tonnes came from the United Kingdom and 70 000 tonnes from Switzerland.

  • Energy efficiency investments are a low priority for EU firms

    Energy efficiency investments are a low priority for EU firms

    The new European Investment Bank (EIB) report, Going Green – Who is investing in energy efficiency, finds that less than half of EU firms have invested in energy efficiency measures and that this accounts for only a small share of their total investment budget.

    The surveyed firms also state that, on average, only a third of their building stock satisfies the highest energy efficiency standards, showing a huge potential for further energy efficiency savings.

    The report further finds that firms’ awareness of energy efficiency benefits is critical for the uptake of energy-saving measures.

    Slovakia: Highest percentage of firms investing in energy efficiency

    In 2019, only 40% of EU firms took measures to improve energy efficiency. Slovakia displayed the highest percentage of firms investing in energy efficiency (61%), followed by Spain, the Czech Republic, Austria, Slovenia, Portugal and Sweden.

    Only these seven EU countries show a greater share of firms investing in energy efficiency than in the United States, where 47% of firms have invested in energy efficiency.

    By contrast, Lithuania, Estonia, Greece, Romania and France were at the other end of the spectrum. As regards their share of total investment in energy efficiency improvements, European firms spent only 10%, whereas this figure was 12% for US firms.

  • Euro zone area unemployment at 7.4%

    Euro zone area unemployment at 7.4%

    In May 2020 the euro area seasonally-adjusted unemployment rate was 7.4%, up from 7.3% in April 2020.

    The EU unemployment rate was 6.7% in May 2020, up from 6.6% in April 2020.

    These figures are published by Eurostat, the statistical office of the European Union.

    Eurostat estimates that 14.366 million men and women in the EU, of whom 12.146 million in the euro area, were unemployed in May 2020.

    Compared with April 2020, the number of persons unemployed increased by 253 000 in the EU and by 159 000 in the euro area.