Latest news with #Eurostat
Yahoo
a day ago
- Business
- Yahoo
No holiday for 42 million EU workers: Where is holiday the most unaffordable in Europe?
In 2023, 15% of employed people in the EU were unable to afford a one-week holiday away from home. While this percentage might not appear very high at first glance, it represents around 42 million workers. In each of the EU's "Big Four" economies (Germany, France, Spain and Italy), over 5 million workers were unable to afford a week-long holiday according to Eurostat data published by the European Trade Union Confederation (ETUC). 'Taking a break with family or friends is important for our physical and mental health, and it is a basic part of the European social contract,' said ETUC General Secretary Esther Lynch, criticising the situation. Holiday poverty among workers continues to rise Holiday poverty among workers is on the rise across the EU, marking the third consecutive annual increase. In 2022, 40.5 million employed people reported being unable to afford a one-week holiday away from home. That number rose to 41.5 million in 2023—an increase of over one million workers in just a year. The share of affected workers grew from 14% to 15%. 'The findings are the result of an increasingly unequal economy, in which workers are forced to give up their holidays due to rising costs for accommodation, transport and food, combined with declining purchasing power and speculation', the ETUC stated. Related The cost of love: Europe's most expensive and cheapest cities for a date Cost of living: Which are the cheapest and most expensive countries in Europe? East-West gap in holiday affordability for workers The data reveals a strong disparity in holiday affordability across the EU, particularly between Eastern/Southern Europe and Western/Northern Europe. Romania tops the list, with 32% of workers unable to afford a one-week holiday. Close behind are Hungary (26%), Bulgaria (24%), Portugal and Cyprus (both 23%), and Slovakia (22%). The Nordic countries—Finland, Sweden and Denmark—along with the Netherlands, Luxembourg, and Slovenia, report the lowest levels of holiday poverty, ranging between 5% and 7%. Czechia, Austria, and Belgium reported holiday poverty rates at or below 10%. Despite their economic weight, even the EU's largest economies report concerning levels of holiday poverty. Among the EU's Big Four, Spain (18%) and Italy (17%) exceed the EU average of 15%. France (12%) and Germany (11%) fall below the average, but both still remain above 10%. EU's Big Four: Over 5 million workers in each country can't afford a holiday Absolute figures speak louder than percentages. Over 5 million workers in each of the EU's Big Four were unable to afford a holiday in 2023. In Italy, the number stood at 6.2 million, followed by 5.8 million in Germany, 5.6 million in Spain, and 5.1 million in France. Over 3.5 million workers in Romania and Poland also couldn't afford a holiday. This figure was more than 1.5 million in Hungary and Portugal. In Austria and the Netherlands, over 550,000 workers couldn't afford even a one-week holiday despite being employed or having a business. 'After working hard all year, it is the least working people should be able to expect to afford and should not be allowed to become a luxury for the few,' Lynch said. 'However, these figures show that Europe has a quality jobs emergency and that our social contract is continuing to crumble as the result of growing economic inequality.' Related China rare earth exports to the US surge 660% after trade agreement The Big Question: Do companies need to re-evaluate how they set climate goals? Is holiday poverty linked to income? There is a moderately strong negative correlation between the share of workers who cannot afford a one-week holiday away from home and annual net earnings. This means that as net earnings increase, the proportion of workers unable to afford such a holiday tends to decrease. However, since the correlation is moderate, it also indicates that in some countries, this relationship is not strong or does not follow the overall trend as closely. For example, Ireland (€43,897) had one of the highest annual net earnings in the EU in 2023, yet holiday poverty remains comparatively high. In contrast, Slovenia has a low level of holiday poverty among workers, even though the incomes are similar to countries where more people struggle to afford a holiday. Related Win for the crypto industry: US passed the first major bill to regulate digital assets Strong correlation between workers and general population By comparing workers (aged 15-64) and the general population aged 16 and over, Euronews Business found a strong correlation: the higher the rate of workers who cannot afford a holiday, the higher it tends to be in the overall population. In 2023, among the general population, the share of people unable to afford a one-week holiday ranged from 11% in Luxembourg to 60% in Romania, while the EU average stood at 29%. This suggests that the rate among the general population is nearly double that of workers. Experts speaking to Euronews Business had noted that differences between countries are largely tied to the strength of their economies. The level of disposable income plays a key role, as it directly affects people's ability to spend on holidays—particularly when looking at figures for the general population. The ETUC calls on national governments to fully implement the Minimum Wage Directive and urges the European Commission to ensure that the Quality Job Package due this year includes legislation to rebalance the economy—making respect for collective bargaining a condition for access to public contracts. 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Euronews
a day ago
- Business
- Euronews
Quite the scoop: Which countries are the EU's top ice cream producers?
Temperatures are soaring across large swathes of Europe. This brings ice cream, a product synonymous with summer, to the forefront of people's minds as a delicious way to cool down. Luckily, the EU has a lot of ice cream to offer. Last year, production of ice cream in the bloc rose by 2% to 3.3 billion litres, up from 3.2 billion litres in 2023, according to recent figures published by Eurostat. When it comes to the country producing the largest quantities of ice cream, the figures may come as a surprise. For many, Italy—famed for its creamy Stracciatella ice cream— may be the first country to come to mind when thinking of this frozen delight. However, it is Germany which is once again crowned king of the cone, churning out 607 million litres in 2024. France and Italy followed at the top with 501 million litres and 492 million litres of ice cream, respectively. Between the top three producers and the two countries rounding out the top five sits a significant gap. Spain landed in fourth place with 378 million litres produced in 2024, and Poland ended in fifth spot, with 298 million litres of ice cream. Smaller producers driving growth These five countries may have produced the largest amounts of ice cream in absolute numbers, but they did not drive the 2% growth recorded between 2023 and 2024. Poland was the only top-five country that saw its production rise compared to 2023. It produced 29% more ice cream in 2024. Meanwhile, France recorded the biggest decline (12%) among the major producers. The decrease was slightly smaller in Italy (-7%) and Spain (-6%). The top producer, Germany, saw its production drop by 1%. However, the production of ice cream increased in more EU countries than it decreased, resulting in an overall rise in production. The data shows that, alongside Poland, smaller producers were the main growth drivers here. These include Belgium, which saw its production rise by 35%, as well as Bulgaria (+19%) and the Czech Republic (+15%). France is EU leader for global ice cream exports The amount of ice cream exported to non-EU countries increased by 1% since 2023 (to 265.3 million). Meanwhile, imports from outside the bloc rose significantly by a quarter, up by 13.6 million kg. The ranking differs when taking into account EU countries' sales of ice cream. France was the largest ice cream exporter in the EU, exporting 55.9 million kg of ice cream in 2024. It accounts for one-fifth (21%) of total ice cream exports to non-EU countries. It was followed by Italy (42.6 million kg), the Netherlands (31.9 million kg). Despite being the most prominent ice cream producer in the EU, Germany exports just 28.2 million kg of this product outside of the bloc. This indicates it directs its sales more within the single market and to its domestic consumers.
The Sun
a day ago
- Business
- The Sun
EU imports €4.4 billion of russian LNG in first half of 2025
BRUSSELS: The European Union imported liquefied natural gas (LNG) from Russia worth around €4.48 billion (US$5.2 billion) in the first half of 2025, up from €3.47 billion over the same period last year, according to EU statistics agency Eurostat on Monday. Overall, the EU imported LNG valued at approximately €26.9 billion during the first six months of 2025. The largest share - around €13.7 billion - came from the United States, reported German news agency dpa. For all of 2024, the US accounted for nearly 45 per cent of the EU's total LNG imports, making it the bloc's largest LNG supplier, the European Commission reported. Unlike Russian oil and coal, the EU has so far not imposed sanctions on gas due to ongoing dependencies among some member states. LNG and pipeline supplies, including via TurkStream, continue to flow into the bloc -BERNAMA-dpa
Yahoo
a day ago
- Business
- Yahoo
European Trade Takes Fresh Tariff Hit as U.S. Exports Slump
European exports to the U.S. continue to slow sharply, underscoring the drag the continent's trade faces from President Trump's trade tariffs. Exports to the U.S. from the 27 nations that make up the European Union dropped 10% on year in June to hit their lowest level since the end of 2023, at a little over 40 billion euros ($46.8 billion,) according to figures released Monday by statistics agency Eurostat. The bloc's overall trade surplus shrank to just 1.8 billion euros, down from 12.7 billion euros a month earlier. Disney's Marvel Abandons Georgia, Taking Livelihoods With It Strong Crop of Earnings Eases Investors' Economic Concerns Air Canada Flight Attendants to Defy Back-to-Work Order Gamblers Now Bet on AI Models Like Racehorses June's fall comes after EU exports to its largest external trading partner decreased sharply in April, having surged to a record high of nearly 72 billion euros in March, when American importers stockpiled goods ahead of the Trump administration's impending tariff announcements. At the end of July, Brussels and Washington reached an agreement that will see a 15% baseline tariff placed on EU imports to the U.S. Elements of that deal remain under negotiation; a joint statement detailing the agreement should be achieved 'soon,' EU spokesperson Olof Gill said last week. The bloc is unlikely to put into place any counter-tariffs on American imports into Europe, at least in the short term, having suspended for six months a package of retaliatory measures drafted in the wake of President Trump's initial tariff announcement in April. Compared with a month earlier, June's shrinking surplus was driven in particular by weaker exports of chemicals, an important export sector for many European economies. Germany, long Europe's industrial powerhouse and one of the world's top exporting nations, has seen exports to America slide in recent months, weighing on output at its factories and limiting growth in the wider economy. A strong euro is also paring demand for European goods. 'The environment for foreign trade remains below average,' warned Ralph Solveen, an economist at Frankfurt-based Commerzbank. European exports to China, another important market, meanwhile also fell sharply on year, highlighting the broader negative effects of the chillier global trade backdrop. 'The full impact of recent tariff measures is still unfolding,' said NgOzi Okonjo-Iweala, director-general of the World Trade Organization. The eurozone economy has proved more resilient than feared in the face of the tariff onslaught, growing 0.1% over the second quarter. But exports are likely to remain under pressure from the strong euro and broader uncertainty, said Carsten Brzeski, head of macro at Dutch bank ING. 'Currently, it's hard to see how exports could soon return as a powerful engine of European growth,' Brzeski said. Write to Joshua Kirby at Welcome to the Fast-Food Industry's Crispy Chicken Summer A2 Milk Targets Margin Growth, Buys Manufacturing Facility The New AI Data Trade: Web Publishers and Startups Look to Cash In NAB Flags Higher Costs as Credit Impairments Hit Profit Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Wall Street Journal
a day ago
- Business
- Wall Street Journal
European Trade Takes Fresh Tariff Hit as U.S. Exports Slump
European exports to the U.S. continue to slow sharply, underscoring the drag the continent's trade faces from President Trump's trade tariffs. Exports to the U.S. from the 27 nations that make up the European Union dropped 10% on year in June to hit their lowest level since the end of 2023, at a little over 40 billion euros ($46.8 billion,) according to figures released Monday by statistics agency Eurostat. The bloc's overall trade surplus shrank to just 1.8 billion euros, down from 12.7 billion euros a month earlier.
