EU single market – Facts and figures

The single market

Since 1992, around 3 million new jobs have been directly created by the single market.
A complete single market would have an additional annual cumulative economic effect of around 1,467 billion EUR.
The consumer detriment of an incomplete single market amounts to 58 billion EUR per year.
In its first twenty years of its existence, the single market has raised EU GDP about 5%.

(Source: European Parliament, Mapping the cost of non-Europe, March 2014)

The free movement of goods generates some 25% of EU GDP and accounts for 75% of intra-EU trade, contributing greatly to European growth while spurring employment and inward investment. (Source: European Commission)
The free movement of goods opens the opportunity of selling to 28 national markets of more than 500 million consumers and 21 million businesses. (Source: European Commission)
Analysis suggests that the untapped potential of the free movement of goods is in the range of some 183 billion - 269 billion EUR. (Source: European Parliament)

Services account for 71% of EU GDP and two-thirds of employment. Yet, only 20% of the services in the EU are provided across borders, accounting for just 5% of EU GDP compared with 17% for manufactured goods. (Source: European Commission, services package, 2012)
75% of trade in services concerns the supply to other businesses (B2B), hence their importance for the overall competitiveness of the EU economy. (Source: European Commission)
National governments must commit to ensuring more ambitious implementation and stronger enforcement of the services directive, which alone can bring additional gains up to 1.8% of EU GDP. (Source: European Commission, services package, 2012)

The transport industry itself directly employs around 11 million people and accounts for 5% of EU GDP.
In 2012, private households in the EU spent roughly 13% of their total consumption on transport-related items.
To remove remaining bottlenecks, 250 billion EUR will have to be invested in EU transport infrastructure to remedy links in the core TEN-T network.

(Source: European Commission)

As a significant economic lever, government and utilities expenditure through public procurement amounts to 19% of EU GDP.
Over 270,000 different contracting authorities carry out public procurement procedures through a variety of national systems (there are around 2 million award procedures carried out each year).
Implementing e-procurement can save public finances around 5%-20% of their public procurement expenditure.