Stats & Graphs (2024)

09/04/2024

New data on renewable energy capacity from the International Renewable Energy Agency (IRENA) shows that 2023 saw a record addition of 473 Gigawatts (GW), bringing total worldwide capacity up to 3870 GW.

The main driver behind the increase was solar energy capacity additions. In 2023, solar energy overtook renewable hydropower as the world’s largest source of renewable energy capacity by adding +346 GW and reaching a worldwide capacity of 1419 GW.

Importantly, in order to achieve the global goal set at COP28 of tripling renewable power needed to limit global temperature increase to 1.5°C of pre-industrial levels, annual capacity additions from 2024 to 2030 needs to increase by over 1000 GW yearly. This is almost double the yearly additions seen in the record year of 2023.

IRENA Director-General, Francesco La Camera said, “This extraordinary surge in renewable generation capacity shows that renewables are the only technology available to rapidly scale up the energy transition aligned with the goals of the Paris Agreement. Nevertheless, the data also serves as a telltale sign that progress is not moving fast enough to add the required 7.2 TW of renewable power within the next seven years.”

The IRENA data also showed that despite record additions, the energy transition is highly uneven geographically. China alone stood for 300 GW of the 473 GW of added renewable capacity in 2023 - 63% - with IRENA warning that ‘many countries are cut off from the benefits of energy transitions’.

Read more: IRENA, Renewable Capacity Statistics 2024 (https://www.irena.org/News/pressreleases/2024/Mar/Record-Growth-in-Renewables-but-Progress-Needs-to-be-Equitable) and World Energy Transitions Outlook (https://www.irena.org/Publications/2024/Mar/Tracking-COP28-outcomes-Tripling-renewable-power-capacity-by-2030).

Chart note: "Others" include bioenergy, geothermal energy and marine energy. Hydropower is renewable hydropower (excluding pumped hydro).

04/04/2024

The inflation rate in the euro area dropped to 2.4% in March 2024, according to new data released by Eurostat. This is the annual rate of change, and thus indicates how much prices have changed compared to March 2023.

The March inflation rate of 2.4% equalled the previous low from November 2023, and edges the inflation rate closer to the European Central Bank (ECB) target rate of 2%. According to analysts, these developments strengthen the case for ECB rate cuts to start in June.

Food and goods inflation have come down in recent months, however services prices have remained sticky and stood at 4.0% in March.

The euro area consists of those EU Member States that have adopted the euro as their currency: Belgium, Germany, Estonia, Ireland, Greece, Spain, France, Croatia, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Austria, Portugal, Slovenia, Slovakia and Finland.

A closer look at country level data shows that inflation rates was highest in Croatia (4.9%), with Austria and Estonia also seeing inflation above 4%. It was lowest in Lithuania (0.3%) with Latvia and Finland also seeing rates at 1% or below.

Eurostats estimate for annual inflation in March 2024:
Croatia: 4.9%
Austria: 4.2%
Estonia: 4.1%
Belgium: 3.8%
Greece: 3.4%
Slovenia: 3.4%
Luxembourg: 3.2%
Spain: 3.2%
Netherlands: 3.1%
Malta: 2.7%
Portugal: 2.6%
Slovakia: 2.5%
France: 2.4%
Germany: 2.3%
Ireland: 1.7%
Cyprus: 1.6%
Italy: 1.3%
Latvia: 1.0%
Finland: 0.7%
Lithuania: 0.3%

Source: Eurostat, Euro area inflation flash estimate – March 2024.

27/03/2024

The European Union has released their latest Eurobarometer, which focuses on public opinion in EU regions. Over 62,000 citizens in 194 regions across the EU's 27 member states were asked questions about the economic situation in their region and quality of life in general, among other topics. The fieldwork was conducted between January and February 2024.

These two charts focus on quality of life and, specifically, the question of citizens' views on whether their life will become better, worse, or stay the same over the next 12 months.

Among the regions with the highest shares saying quality of life will be 'better,' Polish regions make up the majority, with eight of the 15 most optimistic regions. The highest share saying 'better' out of the 194 EU regions was Dolnoslaskie in Poland.
Meanwhile, if we look at the regions with the highest share saying that they expect quality of life to become 'worse' over the next year, most of them are regions in Greece, France, and Germany. Kentriki Ellada in Greece had the highest share of respondents saying 'worse'.

On average across the EU, 23% said they thought life will get better, 22% expect it to become worse, and 52% the same.

Source: Eurobarometer FL539 on public opinion in the EU regions, fieldwork conducted from January-February 2024, totaling 62,091 respondents across the EU.

Full question asked: 'In your opinion, in comparison with today, will the next twelve months be better, worse, or the same, when it comes to your life in general?'

Read more: https://europa.eu/eurobarometer/surveys/detail/3218

05/03/2024

Is information more trusted when it's backed by data and statistics? The answer isn't a straightforward 'yes':

A recent Eurobarometer survey reveals that across the EU27, only 39% of respondents report trusting information ‘much more’ or ‘slightly more’ when it is backed by statistics and data.

In contrast, about a quarter of those surveyed are skeptical, trusting such information ‘slightly less’ or ‘much less’. A notable 36% feel that data and statistics neither increase nor decrease their trust.

Read more:
https://qery.no/eurobarometer-survey-on-trust-and-statistics/

28/02/2024

How are OECD countries faring when it comes to employment of older workers? Better than ever before, according to the latest data. In Q2 2023, the employment rate for those aged 55 to 64 hit a new record high of 63.9%, almost 8 percentage points higher than it was ten years ago.

The data also shows a wide gap in employment rates for older workers across countries. For example, in Iceland, 82.8% of older adults are working, compared to 67.3% in Slovakia and as low as 55.0% in Greece and 46.8% in Luxembourg. This tells us that many countries have great potential to improve.

The number of people over 65 in OECD countries is on the rise, expected to jump from 18% in 2022 to 27% by 2050. And as we're living longer, working later in life will become both more common and more necessary to ensure sustainable pension systems and well-functioning labour markets.

The OECD report, ‘Pensions at a Glance 2023’, points out that a lot of countries are adapting to the change. They’re nudging up the retirement age and encouraging people to work longer. Normal retirement ages are set to increase in 23 out of 38 OECD countries.

Still, the OECD points to many challenges ahead for older workers, saying that "...[p]ension reform alone cannot fully address the impact of population ageing and longer life expectancies on pension system sustainability. By providing targeted support for training and ensuring healthy working conditions, countries can improve the employment prospects of older workers. This will help ensure that pension systems remain financially sustainable, while delivering decent incomes in retirement.”

Source: OECD Pensions at a Glance 2023 and the OECD Data Explorer for the latest quarterly data.

https://www.oecd.org/newsroom/improving-opportunities-and-working-conditions-for-older-workers-can-bolster-pension-system-sustainability-and-address-labour-market-shortages.htm

24/02/2024

Chart of the top performers in the OECD Digital Government Index 2023 (DGI). The index evaluates the readiness of countries for a people-focused digital transformation in public services.

The six dimensions of the DGI are:
1. Digital by Design: Integrating digital considerations from the ground up.
2. Data-Driven Public Sector: Harnessing data for informed decision-making.
3. Government as a Platform: Offering services facilitated by technology.
4. Open by Default: Ensuring transparency and accessibility.
5. User-Driven: Tailoring services to meet citizen needs.
6. Proactiveness: Anticipating public needs through digital means.

An overall composite score for each country is created based on evaluation of each of the six dimensions. The score, measured on a scale from 0 to 1, indicates the level of effort in establishing the foundations for a coherent and human-centered digital transformation of the public sector, with 1 representing the highest level of effort.

The top 5 performers in the 2023 Index were Korea, Denmark, the United Kingdom, Norway and Australia.

Full rankings:

1. 🇰🇷Korea 0.935
2. 🇩🇰Denmark 0.811
3. 🇬🇧United Kingdom 0.775
4. 🇳🇴Norway 0.770
5. 🇦🇺Australia 0.753
6. 🇪🇪Estonia 0.742
7. 🇨🇴Colombia 0.736
8. 🇮🇪Ireland 0.714
9. 🇫🇷France 0.665
10. 🇨🇦Canada 0.655
11. 🇵🇹Portugal 0.640
12. 🇫🇮Finland 0.639
13. 🇮🇸Iceland 0.636
14. 🇱🇹Lithuania 0.608
15. 🇪🇸Spain 0.599
16. 🇱🇻Latvia 0.597
17. 🇨🇿Czechia 0.593
18. 🇹🇷Türkiye 0.586
19. 🇮🇹Italy 0.578
20. 🇵🇱Poland 0.571
21. 🇱🇺Luxembourg 0.567
22. 🇳🇱Netherlands 0.562
23. 🇦🇹Austria 0.547
24. 🇧🇪Belgium 0.539
25. 🇲🇽Mexico 0.536
26. 🇸🇪Sweden 0.525
27. 🇳🇿New Zealand 0.500
28. 🇸🇮Slovenia 0.498
29. 🇮🇱Israel 0.495
30. 🇭🇺Hungary 0.491
31. 🇯🇵Japan 0.483
32. 🇨🇱Chile 0.398
33. 🇨🇷Costa Rica 0.224

Note that the DGI does not measure the actual digitization of services or user uptake, which the OECD notes are aspects which are measured by other international benchmarks.

Data are not available for Germany, Greece, Slovakia, Switzerland, and the United States.

Read more: https://www.oecd.org/publications/2023-oecd-digital-government-index-1a89ed5e-en.htm

21/02/2024

U.S. trade data for 2023 shows that the trade deficit was $773 billion in 2023. This was $178 billion less than in 2022, and the largest annual decline since 2008 to 2009, according to data released by the U.S. Bureau of Economic Analysis and the U.S. Census Bureau.

The trade deficit refers to the difference between a country’s exports and imports. If a country imports more goods and services than it exports, it has a trade deficit. Conversely, if a country exports more than it imports, it has a trade surplus. In 2023, U.S exports stood at $3,054 while imports stood at $3,827. Compared to 2022, exports were up by $35 billion while imports were down by $143 billion.

This improvement in the trade deficit from 2022 was driven by a significant reduction in goods imports, particularly in industrial supplies and consumer goods, alongside a robust increase in services exports, such as in travel and financial services.

Souce: U.S. Census Bureau and the U.S. Bureau of Economic Analysis, U.S. International Trade in Goods and Services, December and Annual 2023. https://www.bea.gov/news/2024/us-international-trade-goods-and-services-december-and-annual-2023

20/02/2024

Recent emissions data released by Eurostat show that 11 out of 27 EU countries managed to decrease emissions while increasing their GDP from Q3 2022 to Q3 2023.

For the EU overall, emissions decreased by -7.1% while GDP decreased by -0.2%. The largest emissions cuts were recorded in Estonia, followed by Bulgaria and Germany. 23 out of 27 EU countries recorded reduced emissions.

While Estonia recorded a reduction of over -30% in GHG emissions, GDP was down by -3.9% over the same period. Only Ireland recorded a lower growth (-5.8%) out of the 27 EU countries.

Read more in the Eurostat article: https://ec.europa.eu/eurostat/en/web/products-eurostat-news/w/ddn-20240214-1

Stats & Graphs

09/04/2024

04/04/2024

27/03/2024

05/03/2024

28/02/2024

24/02/2024

21/02/2024

20/02/2024

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