{"id":154481,"date":"2024-11-08T10:45:22","date_gmt":"2024-11-08T09:45:22","guid":{"rendered":"https:\/\/www.cde.ual.es\/?p=154481"},"modified":"2024-11-08T10:45:22","modified_gmt":"2024-11-08T09:45:22","slug":"what-are-goods-and-services-used-for-in-the-eu","status":"publish","type":"post","link":"https:\/\/www.cde.ual.es\/en\/what-are-goods-and-services-used-for-in-the-eu\/","title":{"rendered":"What are goods and services used for in the EU?"},"content":{"rendered":"<p style=\"text-align: justify;\">In 2022, the EU produced \u20ac31\u00a0674\u00a0billion\u00a0worth of goods and services, while imports from outside the EU (excluding\u00a0intra-EU\u00a0trade) were valued at \u20ac3\u00a0106 billion<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.cde.ual.es\/wp-content\/uploads\/2024\/11\/produccion.jpg\"><img decoding=\"async\" class=\"aligncenter  wp-image-154477\" src=\"https:\/\/www.cde.ual.es\/wp-content\/uploads\/2024\/11\/produccion.jpg\" alt=\"\" width=\"622\" height=\"414\" srcset=\"https:\/\/www.cde.ual.es\/wp-content\/uploads\/2024\/11\/produccion.jpg 1280w, https:\/\/www.cde.ual.es\/wp-content\/uploads\/2024\/11\/produccion-300x200.jpg 300w, https:\/\/www.cde.ual.es\/wp-content\/uploads\/2024\/11\/produccion-1024x682.jpg 1024w, https:\/\/www.cde.ual.es\/wp-content\/uploads\/2024\/11\/produccion-768x512.jpg 768w\" sizes=\"(max-width: 622px) 100vw, 622px\" \/><\/a><\/p>\n<p class=\"ecl-u-type-paragraph\" style=\"text-align: justify;\">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\u00a0householdsor the\u00a0government sector. \u00a0Approximately a tenth of the supply (10.6%) was used for gross capital formation, mostly for\u00a0investment, and the remaining 9.5% of the total supply for the EU was related to\u00a0exportsof products (valued at \u20ac3\u00a0291 billion).<\/p>\n<p class=\"ecl-u-type-paragraph\" style=\"text-align: justify;\">Between 2010 and 2022, the shares of these uses have mostly remained stable. Intermediate consumption reached its lowest point in 2016, and then again in 2020, when its share in total supply bottomed at 46.3%. From 2020, it started a rising trend that culminated in 2022 at 48.7%. On the other hand, the share of final consumption expenditure in total supply was highest in 2010, at 35.3%, decreasing slowly and steadily to 31.2% in 2022.<\/p>\n<p class=\"ecl-u-type-paragraph\" style=\"text-align: justify;\">As for gross capital formation and exports, their shares of total supply increased from 9.8% and 7.8%, respectively, in 2010 to 10.6% and 9.5% in 2022, peaking at the end of the time period.<\/p>\n<h2 class=\"ecl-u-type-heading-2\" style=\"text-align: justify;\">COVID-19 impact on the economy<\/h2>\n<p class=\"ecl-u-type-paragraph\" style=\"text-align: justify;\">Supply and use tables can be a valuable tool to analyse the impact of exogenous events on the economy. In particular, a comparison of 2019 and 2020 data at 2019 prices reveals the impact of COVID-19 on consumer demand in terms of change in the volume of services consumed. A good example is the supply and use volume for accommodation and food services dropping sharply between 2019 and 2020.<\/p>\n<p class=\"ecl-u-type-paragraph\" style=\"text-align: justify;\">Household final consumption of these services fell by over 50% in Croatia, Greece and Cyprus, while Sweden registered the smallest decline (-16%) among the EU countries, followed by Romania (-21%), Finland (-22) and Poland (-23%). This trend was associated with a reduction in domestic production, intermediate consumption and value added in the accommodation and food services industry.<\/p>\n<p style=\"text-align: justify;\">\n<p style=\"text-align: justify;\"><strong>More information: <a href=\"https:\/\/ec.europa.eu\/eurostat\/web\/products-eurostat-news\/w\/ddn-20241107-2\">Eurostat<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In 2022, the EU produced \u20ac31\u00a0674\u00a0billion\u00a0worth of goods and services, while imports from outside the EU (excluding\u00a0intra-EU\u00a0trade) were valued at \u20ac3\u00a0106 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\u00a0householdsor the\u00a0government [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":154478,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[346,4091],"tags":[9314,12938,12939,530],"class_list":{"0":"post-154481","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-eu-news","8":"category-industry","9":"tag-craft-and-industrial-products","10":"tag-crafting","11":"tag-good-and-services","12":"tag-industry","13":"entry"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>What are goods and services used for in the EU? | CDE Almer\u00eda - Centro de Documentaci\u00f3n Europea - Universidad de Almer\u00eda<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.cde.ual.es\/en\/what-are-goods-and-services-used-for-in-the-eu\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What are goods and services used for in the EU? | CDE Almer\u00eda - Centro de Documentaci\u00f3n Europea - Universidad de Almer\u00eda\" \/>\n<meta property=\"og:description\" content=\"In 2022, the EU produced \u20ac31\u00a0674\u00a0billion\u00a0worth of goods and services, while imports from outside the EU (excluding\u00a0intra-EU\u00a0trade) were valued at \u20ac3\u00a0106 billion Nearly half (48.7%) of these goods and services were used for intermediate consumption, meaning they were used to make other products. 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| CDE Almer\u00eda - Centro de Documentaci\u00f3n Europea - Universidad de Almer\u00eda","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.cde.ual.es\/en\/what-are-goods-and-services-used-for-in-the-eu\/","og_locale":"en_US","og_type":"article","og_title":"What are goods and services used for in the EU? | CDE Almer\u00eda - Centro de Documentaci\u00f3n Europea - Universidad de Almer\u00eda","og_description":"In 2022, the EU produced \u20ac31\u00a0674\u00a0billion\u00a0worth of goods and services, while imports from outside the EU (excluding\u00a0intra-EU\u00a0trade) were valued at \u20ac3\u00a0106 billion Nearly half (48.7%) of these goods and services were used for intermediate consumption, meaning they were used to make other products. 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