All posts filed under “European Union

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The Evolution of EU Spending

This week, the European Commission presented its proposal for the budget for the period 2021-2027 – the so-called Multiannual Financial Framework. The size of the proposed 7-year budget is  EUR 1,279, about 1,1% of the EU-27 gross national income. The graph above shows the last 30 years, priorities have shifted from agriculture and cohesion to “other programmes”, like innovation, climate change and migration. (source)

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Housing Prices Surge Across The EU

On Wednesday, the European Union published data on housing prices across the EU for the fourth quarter of 2017. Housing prices across the EU surged on average by 4.5% in the fourth quarter of 2017, year on year, according to Eurostat. As shown in the graph, the highest annual increase in house prices in the EU for the fourth quarter of 2017 was recorded in Ireland (+11.8%). Interestingly, looking at Dublin alone, housing prices have increased by a whopping 90% since 2007. Only Italy saw it’s housing prices decrease compared to Q4 of 2016: a decrease of 0.3%. (source)

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The EU’s Top Trading Partners

According to Eurostat, the United States and China (with €631 bn and €573 bn worth of goods, respectively) are still the two main goods trading partners of the European Union. Together they represent one third of total extra-EU trade. Switzerland (€261 bn, or 7.0%), Russia (€231 bn, or 6.2%), Turkey (€154 bn, or 4.1%) and Japan (€129 bn, or 3.5%) are way behind. In 2017, machinery and transport equipment, other manufactured goods and chemicals represented the main categories of product traded by the EU. For instance, France exported perfume worth over €4 bn, of which more than €1 bn’s worth went to the US. (source)