23/01/2023 08:00
In 2021, household consumption expenditure in the European Union increased by 4.2% compared with 2020, but was still 4.1% lower than in 2019 and the pre-pandemic period, according to data released by Eurostat, the statistical service of the EU.
All the EU Member States recorded an increase in household consumption expenditure in 2021, compared with 2020. This represented a partial recovery after the COVID-19 pandemic. Still, 16 EU countries have not yet fully recovered.
In Cyprus, household consumption expenditure dropped by 12.9% in 2021 compared to 2020, but remained 5% lower compared to 2019.
Comparing 2021 with 2020, the largest increases were recorded in Croatia (+21.2%), followed by Cyprus (+12.9%), Malta (+11.2%), Greece (+10.8%) and Slovenia (+10.2%).
The smallest increases were reported in Germany (+0.1%), Austria (+0.5%), Slovakia (+1.3%), the Netherlands (+3.0%) and Czechia (+3.5%).
From 2019 to 2021, the largest decrease in household expenditure was recorded in Malta (-14.0%), followed by Spain (-9.7%), Austria (-8.4%), Portugal (-6.8%) and Italy (-6.7%).
In Cyprus, there decrease in household expenditure was recorded at 5% compared to 2019.
The largest increases were recorded in Romania (+4.7%), Bulgaria (+4.3%), Lithuania (+3.5%), Estonia (+3.1%) and Sweden (+2.8%).