Data extracted in March 2025.
Planned article update: March 2026.
Highlights
,_monthly_data,_seasonally_and_calendar_adjusted_(2021%3D100).png)
Source: Eurostat (sts_setu_q)
This article provides an overview of the development of the services turnover indicator in the European Union (EU), the euro area and the European Union Member States over recent years, and describes how it is calculated.
The index of turnover in (other) services is a business cycle indicator which measures the development of turnover in the European service industries, with the exception of public and financial services and services in retail and wholesale trade for which a separate indicator exists. The data on services presented here encompass mainly – but not only – services consumed by businesses, therefore they are often referred to as "business services". In addition to the turnover indicator there also exists a monthly production index of services which represents turnover data corrected for price developments.
With Regulation (EU) No 2019/2152 (European Business Statistics Regulation, EBSR), which took effect in 2021, the data frequency for service turnover changed from quarterly to monthly.
Services turnover: development since 2015
Following the financial and economic crises in 2000 and 2009, the turnover of European service industries increased rather steadily. During the Covid-19 crisis, which began in early 2020, this development changed dramatically. Between February and April 2020 services turnover in the EU and in the euro area dropped by around 21%. In May and June 2020 a recovery process set in. However it took over a year before the pre-crisis turnover levels were regained.
Source: Eurostat (sts_setu_q)
Short-term statistics cover – with some exceptions – the following 6 service industries according to NACE Rev. 2 (NACE code in brackets): transportation and storage (H), accommodation and food services (I), information and communication services (J), real estate services (L), professional, scientific and technical activities (M), and administrative and support services (N) (see Figure 2).
During the Covid-19 crisis, food and accommodation services were hit particularly hard. Between February and April 2020, the turnover generated by these service industries was reduced by more than 80%. Moreover, Figure 2 shows that hotel and restaurant services were, unlike other service industries, also severely hit by the containment measures in the winter of 2021.
Transportation and storage services also declined strongly during the pandemic. In 2021 and the first half of 2022 these industries developed rather positively. Starting in September 2022 these services, however, declined again - between August 2022 and December 2023 they recorded a negative rate of change of more than 8%.
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Source: Eurostat (sts_setu_q)
Table 1 provides a breakdown of the development (annual rates of change) of the service turnover in the EU countries. The effects of the Covid-19 crisis are clearly visible for the year 2020 when almost all countries for which data are available registered declines in services turnover (the only exception being Luxembourg).
The current analysis is based on data with the new base year (2021=100). For the time being, no complete data set is available for all countries.
_(annual_rates_of_change_2015-2024,_calendar_adjusted_data).png)
Source: Eurostat (sts_setu_a)
Source data for tables and graphs
Data sources
Data sources, aggregation and availability
The definition of turnover is rather straightforward. It comprises basically what is invoiced by the seller. Rebates and price deductions are taken into account as well as special charges that the customer might have to pay. Turnover does not include VAT or similar deductible taxes.
Information on service turnover is often collected by business surveys. However, quite a number of National Statistical Institutes rely on administrative sources, i.e. VAT declarations, to obtain the data. There are also cases where both methods are used; for example, larger enterprises might be asked to contribute to a survey whereas the data for smaller enterprises area collected from VAT registers.
European aggregates are calculated by summing up weighted national indices for individual service activities. The weights correspond to the share of the countries in the turnover of service activities in the base year.
The data in this article are calculated with 2021 as the base year (=100).
Context
Together with the index for services production, the turnover index for services is one of the most important indicators for the development of service industries in the EU. It is used to analyse business cycle trends in the service industry and as input for national accounts statistics.
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Database
- Services (sts_os)
- Turnover in services (sts_os_t)
Thematic section
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