Ireland spent lowest ratio of GDP on household goods in EU in 2020

People across the EU spent considerably less money on restaurants and hotels in 2020. Spending on clothing and footwear and recreation and culture also dropped significantly.

But there was an increase in spending on the likes of food and non-alcoholic beverages and on communications and housing, electricity, gas and other fuels.

That’s according to the latest EuroStat figures on household consumption expenditure in 2020 that were published today.   

The Covid pandemic was the reason for the dramatic decline in spending on certain goods.

However, Ireland had the lowest level of household expenditure as a ratio to GDP in 2020 within the EU. Grace Bolton, from the European Commission’s Ireland office explains why.

Out words: wage levels

Dur: 00:28