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EU industrial structure 2011 — Trends and Performance Before the results of analyses are presented it should be noted that the RCA measure for services trade cannot be 114 compared directly with the RCA measure for goods trade, cf. Box IV.5. box IV.5: differing interpretation of rca in manufacturing and services 71 i Unlike manufacturing goods, services are not only supplied through cross‑border trade. There are other modes of supply, such as movements of consumers to producers, commercial presence abroad or movement of physical persons. ii Domestic polices rather than trade policies are more likely to have an impact on trade in services. iii Services supplied via factor movements are traded between residents and non‑residents in the same country and not between countries. As was discussed in section III.2, specialisation in services industries differs markedly between the Member States. Cyprus, Luxembourg and the UK have very strong revealed comparative advantages in financial services. Ireland, Luxembourg and the UK have high RCAs in insurance services. Ireland also has a high RCA in computer and information services together with Finland. As with manufacturing, the RCA measure is sensitive to the relative distribution of services industries in a country. In relatively small economies relatively large service industries which account for a large share of exports can give rise to high RCAs. This is the case for Cyprus and Malta with regard to financial services and personal, cultural and recreational services respectively, cf. Table IV.9. 72 71 72 TAbLE IV.9: RCA in services activities in 2009: EU countries, US, Japan and brazil, China and Russia communi‑ cation computer and infor‑ mation construc‑ tion Finance insurance Other business services personal, cultural and rec‑ reational transpor‑ tation Austria 1.17 0.63 0.88 0.26 0.94 1.08 0.45 0.80 1.52 Belgium 2.00 0.91 0.63 0.52 0.68 1.61 0.67 0.97 0.54 Bulgaria 1.30 0.40 2.02 0.07 0.82 0.37 0.70 0.73 2.31 Cyprus 0.40 0.26 0.34 2.79 0.35 0.71 0.40 1.34 0.77 Czech Republic 0.82 0.84 0.58 0.03 0.26 0.86 0.46 1.51 1.07 Denmark 0.47 0.56 0.24 0.16 0.35 0.77 0.73 2.17 0.47 travel >>> 71 See Langhammer (2004) for a detailed presentation. 72 Personal, cultural and recreational services involve transactions in (i) audiovisual and related services and (ii) other personal, cultural and recreational services. Other personal, cultural and recreational services comprise services such as those associated with museums, libraries, archives, and other cultural, sporting, and recreational activities. Also included are fees for services, including provision of correspondence courses, rendered abroad by teachers or doctors. Construction services cover work performed on construction projects and installations by employees of an enterprise in locations outside the economic territory of the enterprise. Goods imported by the enterprise for use in the projects are included in the value of these services rather than under goods. Projects carried out by foreign subsidiaries or branches of enterprises (direct investors) and certain site offices are excluded because such projects are part of the production of the host economy. See http://stats.oecd.org/OECDStat_ Metadata/ShowMetadata.ashx?Dataset=TIS&Coords=[SER]. [287]&ShowOnWeb=true&Lang=en
communi‑ cation computer and infor‑ mation construc‑ tion The EU has a relative comparative advantage in almost all the sectors analysed except personal, cultural and recreational, construction and travel. 73 The previous edition of EU industrial structure, which based its findings on 2006 data, showed that the EU had the highest RCA in financial services of all countries. 2009 data shows that even though the EU still has 73 As mentioned previously, trade deficits and indications that country does not have comparative advantages in a sector does not necessarily mean that it constitutes a problem. The RCA values below 1.0 for personal, cultural and recreational and travel services industries indicate that citizens in the EU-27 on average spend more money in third countries than third country tourists spend in the EU. The conclusion is that a relatively high standard of living allows people in the EU-27 to travel to third countries and spend money. Finance insurance Chapter IV — International competitiveness of EU industry Other business services personal, cultural and rec‑ reational transpor‑ tation Estonia 1.30 0.51 1.17 0.15 0.08 0.62 0.21 1.93 0.77 Finland 0.57 4.92 1.75 0.21 0.31 1.93 0.03 0.00 0.52 France 1.12 0.16 1.41 0.17 0.20 0.80 1.01 1.37 1.26 Germany 0.73 0.92 1.62 0.59 0.80 1.12 0.41 1.39 0.55 Greece 0.30 0.12 0.23 0.04 0.33 0.14 0.33 2.36 1.10 Hungary 0.91 0.93 0.66 0.12 0.04 0.95 4.49 1.16 1.15 Ireland 0.33 6.54 0.00 1.21 5.15 1.30 0.00 0.00 0.24 Italy 0.61 0.12 0.85 0.87 0.50 1.06 0.93 0.85 1.49 Latvia 1.06 0.55 0.32 0.86 0.30 0.61 0.22 1.81 0.80 Lithuania 1.11 0.18 0.59 0.14 0.00 0.30 0.37 1.97 1.25 Luxembourg 2.22 0.30 0.26 7.86 2.26 0.51 1.60 0.19 0.29 Malta 0.58 0.33 0.00 0.83 0.60 1.11 18.12 0.47 1.14 Netherlands 2.08 1.20 1.14 0.20 0.28 1.48 0.83 1.02 0.61 Poland 0.90 0.52 1.74 0.19 0.04 1.01 0.44 1.07 1.32 Portugal 1.20 0.27 1.05 0.12 0.28 0.79 1.24 0.91 1.83 Romania 3.62 1.73 1.77 0.24 0.22 1.14 0.72 1.07 0.54 Slovak Republic 1.40 0.78 0.67 0.67 0.50 0.56 0.77 1.08 1.60 Slovenia 1.85 0.44 1.53 0.08 0.63 0.72 0.75 0.88 1.78 Spain 0.69 0.84 1.15 0.50 0.65 0.95 1.24 0.52 1.86 Sweden 1.46 2.11 0.32 0.32 0.81 1.60 0.86 0.63 0.80 United Kingdom travel 1.36 0.85 0.36 3.15 2.21 1.26 1.26 0.51 0.57 EU‑27 1.07 1.09 0.90 1.12 1.07 1.07 0.88 0.97 0.90 United States 0.99 0.58 0.58 1.89 1.60 0.91 3.17 0.57 1.32 Japan 0.20 0.11 3.03 0.47 0.27 1.23 0.11 1.65 0.32 Brazil 0.55 0.14 0.02 0.80 0.61 2.11 0.28 0.55 0.87 China,P.R.: Mainland 0.32 0.72 2.06 0.04 0.44 1.18 0.06 1.10 1.10 India 0.56 7.74 0.27 0.45 0.64 0.53 0.44 0.77 0.47 Russian Federation 1.32 0.53 2.65 0.34 0.46 1.08 0.76 1.08 0.97 Source: own calculations using IMF bops and OECD. a comparative advantage in financial services, the US now has the highest RCA in these services. US RCAs are even higher compared with the EU in personal, cultural and recreational services. Both the EU and the US appear to be quite diversified in their services trade. Japan appears to be highly specialised in trade of construction services as do China and Russia. India is highly specialised in computer and information services, an area where China differs radically. While China has strong comparative advantages in manufacturing radio, television and telecommunication equipment, it does not have any advantage in the services related to those manufacturing goods. Brazil exhibits high RCA values in other business services, cf. Figures IV.11 to IV.17. 115
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EU industrial structure 2011 Trends
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ENTERPRISE & INDUSTRY MAGAZINE The
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EU industrial structure 2011 — Tr
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Chapter I The aftermath of the cris
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i12 services recession and recovery
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nacE rev 2 growth 2009 Chapter I
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The business survey indicator used
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Chapter II Changes in EU Industrial
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developments. This is confirmed by
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TAbLE II.2: Sectoral specialisation
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technology scale. They are less and
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ox II.4: SME definition FIgURE II.7
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definition of shocks. Shocks, or di
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