In 2022, the EU produced goods and services worth 31.674 trillion euros, while imports from outside the EU (excluding intra-EU trade) reached a value of 3.106 trillion euros.
Almost half (48.7%) of these goods and services were used for intermediate consumption, i.e. to manufacture other products. Another considerable proportion, 31.2%, was used for final consumption, generally by households or the public sector. About one tenth of the supply (10.6%) was used for gross capital formation, mainly for investment, and the remaining 9.5% of total EU supply was related to exports of products (valued at 3.291 trillion euros).
Between 2010 and 2022, the share of these uses has remained largely stable. Intermediate consumption reached its lowest point in 2016, and then again in 2020, when its share of total supply stood at 46.3%. From 2020 onwards, it started an upward trend, culminating in 2022 at 48.7%. On the other hand, the share of final consumption expenditure in total supply peaked in 2010 at 35.3 per cent and declined slowly and steadily to 31.2 per cent in 2022.
As for gross capital formation and exports, their shares in 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 period.
The impact of COVID-19 on the economy
Supply and use tables can be a valuable tool for analysing the impact of exogenous developments 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 volume of supply and use of accommodation and food services, which fell sharply between 2019 and 2020.
Household final consumption of these services fell by more than 50% in Croatia, Greece and Cyprus, while Sweden recorded the smallest decline (-16%) among 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 catering industry.
More information at EUROSTAT