Money Buzz! Europa

Tag: europe

  • Global economy to shrink by 4.5% in 2020 as China’s GDP grows by 1.6%

    Global economy to shrink by 4.5% in 2020 as China’s GDP grows by 1.6%

    According to the research data analyzed and gathered by StockApps.com, the global economy is set to decline by 4.5% in 2020.

    In 2019, the global GDP grew 2.6% and by 2021, it is projected to grow by 5.0%. South Africa will suffer the hardest blow with an 11.5% decline.

    According to WeForum, the economic shock experienced in 2020 is three times worse than the 2008 financial crisis in terms of annual GDP decline.

    China’s economy could be worth $14.6 trillion in 2020

    The OECD report reveals that all G20 economies apart from China will suffer a recession in 2020. China is set to grow by 1.6% in 2020 according to World Bank projections, compared to a 5.2% global contraction. 

    Based on a report from CNN, China’s economy could be worth $14.6 trillion by the end of 2020, giving it a 17.5% share of the global GDP.

    During Q3 2020, China’s economy surged by 4.9% year-over-year (YoY), up from 3.2% in Q2 2020. In the first week of October 2020, tourist spending surged by 70% and reached $70 billion. Over 630 million people traveled around the country, 80% more than in 2019.

    On the other hand, the US GDP is set to sink by 3.8% in 2020 according to the OECD. However, Morgan Stanley projects that it will rebound to pre-pandemic levels by Q2 2021, two quarters earlier than previous forecasts anticipated.

    For the G20 as a whole, there will be a 4.1% GDP decline while the Euro zone will drop by 7.9%. In addition to South Africa, other hard-hit countries in the G20 will include Argentina (-11.2%), Italy (-10.5%), Mexico (-10.2%), India (-10.2%) and the UK (-10.1%). As a whole, the G20 will shoot up by 5.7% in 2020 while the Euro zone will grow by 5.1%.

  • 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%).

  • Paris Charles de Gaulle is the busiest airport in Europe

    Paris Charles de Gaulle is the busiest airport in Europe

    In the busiest airports in Europe rankings, London Heathrow lost for the first time the first place, being overtaken by Paris Charles de Gaulle, BBC and Reuters reported.

    In the first nine months of 2020, about 19 million passengers passed through Heathrow Airport, compared to 19.3 million registered at the airport in the French capital.

    Amsterdam (Schiphol) and Frankfurt airports are close, in third and fourth places.

    Heathrow Airport, which has already laid off 500 employees, reported £ 1.5 billion ($ 1.95 billion) losses in the first nine months of 2020.

    The company also worsened its estimates of passenger numbers in 2021 to 22.6 million – less than a quarter of the 2019 level.

  • Europeans’ concerns regarding financial and employment problems diminished

    Europeans’ concerns regarding financial and employment problems diminished

    Europeans’ concerns regarding their financial and employment problems diminished in the first four months since the first COVID-19 restrictions imposed by the authorities have eased, according to Deloitte State of Consumer Tracker survey.

    Two-thirds of respondents are being more open to the idea of making large purchases and more relaxed about the stability of their job.

    Nevertheless, Europeans are still as concerned about their physical well-being as they were during the lockdown (47% at the end of August, compared to 48% in May). European trends are in line with the global ones.

    The tracker also shows that safety remains a concern for the European consumers, considering that almost half of them (45%) say they do not feel safe when shopping in stores.

    The Germans are the most concerned about this matter (55%), followed closely by the Polish (51%), while the Belgians are at the opposite side (40%).

    However, consumers maintain their preferences for making certain purchases offline, considering that almost three quarters of respondents intend to shop in-store for groceries (77%) and household goods (73%).

    The results also show that, within the time elapsed since the restrictions relaxation, the intent to purchase household goods has tempered – the share of respondents who want to spend more on such goods has decreased from 20% in May 2020, to 12% at the end of August.

    At the same time, while 24% of respondents said that they wanted to spend more on grocery goods in May, their share reached 16% in August.

    Based on the analysis of the spending behavior, the study shows that the profile of the socially conscious shopper, which intends to buy more from local brands even if the cost is a little higher, still dominates throughout Europe (43%).

    Four out of ten Europeans say they are bargain hunters, a profile characteristic to people who buy on the spot non-essential items if they find good deals, this profile being the most common among the Germans (47%) and British (48%).

    The following profiles in terms of share among Europeans are the convenience seekers (34%), which are consumers who spend more on convenience goods, and the stockpilers (32%), which plan to buy stocks of goods for more than immediate needs.

    Deloitte State of Consumer Tracker is conducted based on biweekly online surveys, applied in Australia, Belgium, Canada, Chile, China, France, Germany, India, Ireland, Italy, Japan, Mexico, the Netherlands, Poland, Spain, South Korea, the United Kingdom and the United States.

  • Only four countries produced over 56% of Europe’s total lumber in 2019

    Only four countries produced over 56% of Europe’s total lumber in 2019

    European lumber exporters have expanded their sales overseas from 30% to 45% over the past ten years, with Asia receiving a fifth of total exports in 2020.

    Historically, most of the shipments were to neighboring countries on the continent, and only about 20% were shipped overseas to the Middle East/Northern Africa (MENA), the US, and Japan.

    In 2020, this share had grown to 45%, with shipments to China having expanded the most.

    The four largest producers and exporters of softwood lumber in Europe are Sweden, Finland, Germany, and Austria.

    Together they produced just over 56% of Europe’s total lumber production in 2019, and the international shipments by these “Top 4” accounted for about two-thirds of continent’s total export volume.

    Over the past decade, this group has increased exports by about 20% to an estimated 36 million m3 in 2020, according to the Wood Resource Quarterly. Practically all of the expanded sales have been to overseas markets, predominantly China and the US, but also to several smaller markets in Asia, including India, South Korea, Taiwan, Vietnam, and Australia.

    In 2020, over 65% of Finland’s lumber exports have gone to markets outside Europe.

    However, Finland remains the only country in the “Top 4” that has not yet expanded into the massive US lumber market. Sweden and Germany have shipped about 45% of their lumber exports overseas.

    Austrian sawmills still predominantly sell to neighboring countries, with Italy, Germany, and Slovenia accounting almost 70% of their total export volumes during the first six months of this year.

  • Chinese smartphone maker Vivo enters six European markets

    Chinese smartphone maker Vivo enters six European markets

    Chinese smartphone maker Vivo announced that it will expand its business in Europe in Poland, Germany, France, Spain, Italy and the United Kingdom markets, Xinhua reports.

    The Guangdong-based company has set up European offices in November 2019, and employees from 16 nations work at its headquarters in Dusseldorf, Germany.

    On Tuesday, Vivo launched the first smartphones and other devices for the European market, including the flagship X51 5G and wireless headphones.

    Vivo launched on international markets in 2014 and is present in over 30 countries in Asia, Oceania and Africa.

  • Tesla to deliver its made in China Model 3 sedan to 10 European countries

    Tesla to deliver its made in China Model 3 sedan to 10 European countries

    Tesla announced on Monday that it will deliver the Model 3 sedan, made in China, to more than ten European countries, starting this month, Reuters reports.

    Tesla, which started delivering vehicles manufactured at its Shanghai plant in December, will export cars made in China from October, in Germany, France, Italy and Switzerland.

    At the Shanghai plant, Tesla’s first factory outside the United States, 150.000 vehicles would be made this year.

    In China, the largest global car market, Tesla sold more than 11.000 Model 3 cars last month, and the American company will build a new plant in Shanghai to manufacture Model Y SUVs.

    The company sold globally 139.300 SUVs and sedans between July and September, an increase of 44% compared to the same period in 2019, when it delivered 97.000 units.

  • 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%).

  • Rockstart launches a €21m fund to invest in energy startups

    Rockstart launches a €21m fund to invest in energy startups

    Rockstart, one of Europe’s first accelerators, launches its second Fund of € 21m to invest in energy startups.

    The Rockstart Energy Fund aims to invest in energy startups in Europe with a primary focus in the Netherlands. The Energy fund is the second fund launched by Rockstart after the 2019 launch of the Rockstart Agrifood Fund.

    Rockstart has been active in the Energy domain since 2014. The company has a 75% follow-on funding rate from its latest Energy accelerator, with €5.2m raised by portfolio companies within 1.5 years.

    The Rockstart Energy Fund is launched with the participation of an institutional investor, family offices, and business angels.

    The main investors in the fund are the Dutch pension fund ABP, De Hoge Dennen Capital, investment companies and several prominent angel investors from The Netherlands and Germany. The fund is supported by the seed capital scheme from the Netherlands Enterprise Agency (RVO).

  • 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.