In 2022, the EU produced €31 674 billion worth of goods and services, while imports from outside the EU (excluding intra-EU trade) were valued at €3 106 billion Nearly half (48.7%) of these goods and services were used for intermediate consumption, meaning they were used to make other products. Another considerable share, 31.2%, was used for final consumption, typically by householdsor the government […]
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EU adopts rules to better measure the environment’s contribution to the economy
On 5 November, the Council formally adopted the amended regulation on European environmental economic accounts, the EU’s common statistical system which brings together economic and environmental information. The new rules extend the scope of the European environmental economic accounts, introducing forest accounts, ecosystem accounts, and environmental subsidies accounts. The amended regulation aims to provide better information for the […]
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Council adopts law for clean and smart construction products
The Council has adopted the construction products regulation (CPR), which harmonises the EU rules for marketing of those products, facilitates their free movement in the single market, reduces administrative burdens and promotes the circular economy and technological development in that sector. This is the last step in the decision-making procedure. The CPR updates the existing […]
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Council reaches agreement on VAT package for the digital age
The Council reached agreement today on new measures to make EU VAT rules compatible with the digital age. This legislative package, with new rules on e-invoices and real-time data reporting and on business activities carried out through digital platforms, will combat tax fraud, support businesses and promote digitisation. Mihály Varga, Hungarian Minister of Finance, said: […]
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Growing EU trade of electric & hybrid cars
Between 2017 and 2023, EU trade of electric and hybrid cars increased substantially. In 2023, almost 43% of the total number of cars imported into the EU were electric or hybrid, indicating a significant increase compared with the share observed in 2017, which was 8%. EU exports jumped from 2% of the total number of cars exported in 2017 to 26% […]
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EU imposes duties on unfairly subsidised electric vehicles from China
Today the European Commission concluded its anti-subsidy investigation by imposing definitive countervailing duties on imports of battery electric vehicles (BEVs) from China for a period of five years. As previously disclosed, the investigation found that the BEV value chain in China benefits from unfair subsidization which is causing threat of economic injury to EU producers of BEVs. As […]
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Micro & small businesses make up 99% of enterprises in the EU
In 2022, the EU had 32.3 million enterprises, employing 160 million persons. Of that total, 99% were micro and small enterprises employing up to 49 persons. Micro and small enterprises employed 77.5 million persons, i.e. almost half (48%) of the total number of all persons employed in enterprises. They generated €11.9 trillion in turnover, representing 31% of the total […]
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EU budget for 2025 to focus on research, health, education, and climate action
Parliament demands an EU budget for 2025 that focuses on improving people’s lives, boosting competitiveness, and addressing current challenges. MEPs set the overall level of commitment appropriations for the 2025 draft budget at almost €201 billion, €1.24 billion more than the Commission’s proposal from last June. Parliament wants to boost programmes vital in addressing health challenges, supporting young […]
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EU invests €4.8 billion of emissions trading revenues in innovative net-zero projects
The Commission has today selected 85 innovative net zero emission projects to receive €4.8 billion in grants from the Innovation Fund to help deploy cutting-edge clean technologies across Europe. The 2023 call for proposals awards for the first time projects of various sizes (large, medium and small, as well as pilot projects) focusing on clean […]
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