The European value-added of business services in 2023 showed Germany leading with a significant share, reflecting its strong industrial and service-based economy. Italy and Spain followed, while smaller economies like Estonia showed high growth rates. Notably, Ireland demonstrated a notable increase with a 5.06% year-on-year variation, indicating robust expansion in business services.
Future trends suggest continued growth in smaller economies spurred by technological advancements and increased globalization. Watching the performance of tech-driven nations like Ireland and Estonia could offer valuable insights, alongside the stable but slower growth of larger economies such as Germany and Italy.
Top countries in Value Added of Business Services Share by Country (Million Euros)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 34.03 | 2023 | +1.77% | +2.04% | View data |
| 2 | 2 Italy | 19.8 | 2023 | +1.3% | +1.42% | View data |
| 3 | 3 Spain | 13.45 | 2023 | +1.79% | +1.77% | View data |
| 4 | 4 Netherlands | 9.06 | 2023 | +1.88% | +1.82% | View data |
| 5 | 5 Belgium | 5.48 | 2023 | +2.11% | +2.42% | View data |
| 6 | 6 Austria | 4.13 | 2023 | +1.98% | +2% | View data |
| 7 | 7 Ireland | 4.11 | 2023 | +3.65% | +5.06% | View data |
| 8 | 8 Finland | 2.24 | 2023 | +1.95% | +1.97% | View data |
| 9 | 9 Portugal | 2.24 | 2023 | +1.79% | +1.72% | View data |
| 10 | 10 Greece | 1.99 | 2023 | +0.31% | +0.61% | View data |
