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Eurostat: Impact of pandemic on services sector felt less in Bulgaria and Romania in Q1

energynomics

In the first quarter of 2020, compared to the last three months of 2019, the volume of services in the 27 EU Member States decreased by 2.8%, the most severe decline being in Malta, by 15.7%, while in some countries the data are positive, respectively in Bulgaria (plus 3.6%) and Romania (plus 4.7%).

Transport services (land, sea and air) fell by 3.3% in the EU, with the most significant decline being in Latvia (minus 10.5%). Hotels and restaurants reported a 15.2% decline, especially in Italy (minus 24.8%), Cyprus (minus 23.1%) and Malta (minus 22.1%).

To prevent the spread of the coronavirus pandemic (COVID-19), EU Member States have adopted a wide variety of restrictive measures. Thus, bars, restaurants and hotels were closed in almost all countries, which affected the level of services.

In March 2020, the volume of services in the 27 EU member states decreased by 11.3% compared to the previous month, according to Agerpres.

The most severe decline in the EU, of 48.5%, was recorded in hotels and restaurants. Administrative and support services, which are usually purchased by companies, fell by 8.4%, while transport services fell by 7.2%.

Professional and scientific services (legal services, accounting, marketing, etc.) decreased by 4.6%, while IT and communications services declined by only 2.3%.

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