Key Figures on European Business

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The pocketbook Key figures on European business1, published by Eurostat, the Statistical Office of the European Communities, summarises the main features of European business in a concise and simple manner.

The publication consists of fourteen short chapters, focusing on particular aspects of the European business economy; from the size and structure of business sectors to the importance of foreign controlled enterprises. This edition includes a special feature on the factors of business success, which presents an analysis of the characteristics of successful entrepreneurs for 15 Member States. The special feature gives an insight into the issues that determine the success and growth of newly born enterprises, as well as the motivation of entrepreneurs and the difficulties they face.

127 million persons employed in the EU27 non-financial business economy

In 2005, the total number of enterprises in the EU27 non-financial business economy2 was almost 20 million. In total, these enterprises generated 5 400 billion euro in value added and employed 127 million persons. Three sectors together accounted for more than half of the total number of enterprises: retail trade (3.8 million or 19%), other business activities3 (3.7 million or 19%) and construction (2.8 million or 14%).
These were also the sectors with the highest employment. Other business activities was the largest sector, with 18 million persons employed, representing 14% of all employment in the non-financial business economy in the EU27 in 2005, followed by retail trade (17 million or 14%) and construction (14 million or 11%).
Other business activities also had the highest value added with 656 bn euro, the equivalent of 12% of total value added in all sectors, followed by wholesale trade (480 bn or 9%) and construction (466 bn or 9%).

Key indicators on the non-financial business economy in the EU27, 2005

Germany accounted for almost a quarter of the number of credit institutions in the EU27

There were around 8 700 credit institutions4 in the EU27 in 2006, employing 3.2 million persons. Their net interest earned amounted to 300 billion euro and their net commissions to 150 bn euro. They held 2 060 billion euro of capital and reserves, while their total assets and liabilities (balance sheet) amounted to 36 000 billion euro, three times the EU27 GDP.

Amongst the Member States in 2006, Germany with almost 2 000 credit institutions accounted for 23% of the total number in the EU27, followed by France (840 institutions and 10%) and Austria (800 institutions and 9%). Germany also recorded the highest number of persons employed in credit institutions (680 thousand, 21% of total), followed by the United Kingdom (450 thousand, 14%), France (410 thousand, 13%) and Italy (340 thousand, 11%).

In 2006, Germany (66 bn, 22%) accounted for the highest share of net interest earned by credit institutions in the EU27, followed by the United Kingdom (59 bn, 20%), Italy (33 bn, 11%) and Spain (29 bn, 10%), while for net commissions the highest amounts were found in the United Kingdom (38 bn, 24%), Germany (27 bn, 17%), France (22 bn, 14%) and Italy (20 bn, 13%). In all Member States, except Luxembourg, net income from interest was higher than net income from commissions.

The United Kingdom (533 bn euro, 26%) recorded more than a quarter of the capital and reserves held by credit institutions in the EU27 in 2006, followed by Italy (277 bn, 13%), France (266 bn, 13%) and Germany (260 bn, 13%).
The United Kingdom (9 500 bn euro, 27%) also accounted for more than a quarter of the total assets and liabilities (balance sheet) of credit institutions in 2006 in the EU27, followed by Germany (7 300 bn, 20%) and France (5 400 bn, 15%). As a percentage of GDP, the balance sheet of credit institutions varied greatly among Member States, ranging from 50% in Romania and 65% in Poland to 2 480% in Luxembourg and around 500% in Cyprus, the United Kingdom and Ireland.

Credit institutions, 2006*

: Data not available
c Confidential
* Number of credit institutions, net interest, net commissions, total of capital and reserves, balance sheet total: 2005: Bulgaria, Italy, the Netherlands, Finland, 2004: Ireland
Number of persons employed: 2005: Bulgaria, Denmark, Italy, the Netherlands, Finland, 2004: Ireland. Sweden: number of employees of full-time equivalent instead of employed.
** EU27: sum of available Member State data

Net interest is compiled from interest and similar income less interest payable and similar charges, and is also known as the interest margin.
Net commissions are compiled from commissions receivable less commissions payable.
Capital and reserves are the own funds of the banks.
The balance sheet total represents the total assets or the total liabilities as recorded on the balance sheet.

1. The publication «Key figures on European business» can be downloaded free of charge in PDF format and paper copies can be ordered through the Eurostat website. The publication presents only a small selection of the most important data available. For further information, the Eurostat website offers a section dedicated to European business.

2. The non-financial business economy excludes agricultural activities, public administration and other non-market services, such as education and health and also excludes the financial services sector, for which activity specific information is presented in the publication. NACE Rev. 1.1 is the common statistical classification of economic activity within the European Community. NACE Rev. 1.1 is available on the Eurostat website.

3. Other business activities: Legal, accounting, book-keeping and auditing activities; tax consultancy; market research and public opinion polling; business and management consultancy; holdings, Architectural and engineering activities and related technical consultancy, Technical testing and analysis, Advertising, Labour recruitment and provision of personnel, Investigation and security activities, Industrial cleaning, Miscellaneous business activities n.e.c.

4. Credit institutions: an undertaking whose business is to receive deposits or other repayable funds from the public and to grant credits for its own account.

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