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Household consumption spending rising

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European Union household consumption expenditure saw the second largest annual increase in Cyprus, with almost 13% behind Croatia (21.2%), according to Eurostat.

In 2021, household consumption expenditure in the EU increased by 4.2% on average compared with 2020. However, it was still 4.1% lower than in 2019 and the pre-pandemic period.

All EU27 countries recorded an increase in household consumption expenditure in 2021 from 2020.

This represented a partial recovery after the COVID-19 pandemic; the majority (16 EU countries) have not yet fully recovered from the coronavirus fallout.

In Cyprus, household consumption expenditure rose 12.9% in 2021 from 2020 but remained 5% lower than in 2019.

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%).

The largest increases were recorded in Romania (+4.7%), Bulgaria (+4.3%), Lithuania (+3.5%), Estonia (+3.1%) and Sweden (+2.8%).

In 2021, EU household consumption expenditure increased the most for Restaurants and hotels (+15.5 %), Clothing and footwear (+8.6 %), Health (+8.3 %) and Recreation and culture (+7.3 %), compared with 2020.