Launched on 26 May as a unique and harmonised product developed by the Statistical Office of the European Union (Eurostat) and the Joint Research Centre (JRC), the FIGARO database provides consistent access to figures from different national sources such as businesses, industries, trade and macro-economic accounts of all EU member states and their main trading partners.
The aim of the FIGARO database is to help evaluate socio-economic and environmental impacts of European Union policies.
The database includes figures for the period 2010-2019, relating to more than 60 industries from the EU 27 Member States, as well as the G20 countries, Norway and Switzerland.
All stakeholders across the EU, both from the profit and non-profit sector will be able to use the database to better understand the links between industries and the economic decisions taken by countries, especially those relating to offshoring certain activities or evaluating risks of disruption in the supply chains.
For instance, the tables at the basis of the FIGARO database proved to be useful in the latest Spring Economic Forecast 2021 to model the extent to which the EU is exposed to the United States’ demand for products produced in the EU, including those demanded via third countries and value chain integration.
In particular, out of each of €6 million exports of the euro area, €1 million is linked to US demand.
Among others, economists, environmentalists, trade experts, universities and international economic research institutes can also use the FIGARO database to analyse the EU/global inter-industry relationships across countries, including global value chains.
As further examples, the FIGARO database can be useful for the estimation of the value added and jobs linked to export activities (e.g. in the cars or pharmaceutical products industries), including those in firms supplying inputs to exporters, as well as for measuring the worldwide environmental footprint of the consumption by EU citizens.