Conditions in sales markets
In the majority of European markets the sales trend of household appliances was negative in the first half of the year 2009. Sales dropped most in Great Britain and Spain; the only market where an increase in sales volume was observed, was the Austrian one.
The crisis that affected the East-European markets of household appliances was even more serious. A two-digit relative growth of the sales volume in the previous years turned into a two-digit reduction at the beginning of the year 2009. Countries in the region mentioned are not in the euro-zone and increase in euro affected them even more (especially Russia and Ukraine) resulting in a two-digit inflation rate and the prices of products imported from the euro-zone went up significantly.
In addition to the world financial crisis the markets of the Near East were greatly affected by the low oil prices (when compared to the previous years). Major markets in this region are Iran, Saudi Arabia and United Arab Emirates were a two-digit reduction in the sales volume was suffered. Latin-American markets grew at a rate higher than 5 % in the first half of the year 2009 due to the Brazilian market that grew by 15 % since a tax rate for industrial products decreased.
Conditions in purchasing markets
In purchasing markets the increasing trend of raw material prices started at the beginning of March and lasted to September when record levels were achieved. The main reasons for such development can be in speculative demand along with the first signs of recovering of the global economy and a great quantity of cheap money provided by central banks.
The increased demand from China cannot be neglected where the record import of oil and metals lasting for several months pushed up raw material prices on world stock exchanges. Due to taking of measures for slowing down of growth at the beginning of the year 2010 it is expected that the China pressure on the prices of raw materials will importantly decrease in future.
|Some macro-economic ratios for EU countries|
|GDP (2009)||UNEMPLOYMENT (2009)||BUDGET DEFICIT (2008)||PUBLIC DEBT (2008)|
|HIGHLY DEVELOPED EU COUNTRIES|
|EU countries in difficulties|
|EU (27 countries)||-4.1||9.6||-2.3||61.5|
|Euro-zone (16 countries)||-4.0||10.0||-2.0||69.3|
Source: Eurostat; accessible at: http://epp.eurostat.ec.europa.eu/portal/page/portal/eurostat/home/