In 2023, Germany led Europe in Gross Value Added for Wholesale and Retail Trade, Transport, Accommodation, and Food Services at 535.82 billion euros, growing by 2.09% from 2022. Spain followed with 282.96 billion euros, with a 1.81% increase. Notably, smaller economies like Luxembourg and Andorra experienced higher year-on-year growth rates of 4.06% and 4.3%, respectively. Portugal, Lithuania, Kosovo, and Montenegro sought substantial growth nearing or above 3% compared to the previous year. Over the past five years, the sector showed a steady rate of expansion in these countries.
Future trends to watch include:
- Continued expansion in smaller economies, potentially faster than in larger countries.
- Increased innovation in service delivery, especially around digital transformation.
- Adjustments to changing consumer behaviors post-pandemic.
- Multinational chains’ investments in emerging markets, shifting the competitive landscape.
- Climate policies and sustainability practices strongly influencing sector advancements.
Top countries in Wholesale and Retail Trade, Transport, Accommodation and Food Service Activities Gross Value Added by Country
| # | 10 Countries | Million Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 535,820 | 2023 | +2.09% | +2.09% | View data |
| 2 | 2 Spain | 282,960 | 2023 | +8.16% | +1.81% | View data |
| 3 | 3 Belgium | 83,560 | 2023 | +3.93% | +1.21% | View data |
| 4 | 4 Portugal | 48,330 | 2023 | +7.77% | +2.28% | View data |
| 5 | 5 Lithuania | 15,480 | 2023 | +3.32% | +3.59% | View data |
| 6 | 6 Luxembourg | 10,550 | 2023 | +3.42% | +4.06% | View data |
| 7 | 7 Kosovo | 1,550 | 2023 | +4.01% | +4.22% | View data |
| 8 | 8 Montenegro | 1,320 | 2023 | +11.68% | +3.07% | View data |
| 9 | 9 Andorra | 821.74 | 2023 | +0.059% | +4.3% | View data |
| 10 | 10 San Marino | 255.29 | 2023 | +2.64% | +3% | View data |
