European performance in the Triad

1

GDP at 1995 market prices per capita(left scale in 1995 PPS, right scale EU/US ratio)

SOURCE: European Competitiveness Report 2002

2

GDP per capita, PPP (US=100)

60

65

70

75

80

85

90

1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001

EU15 Japan

3

SOURCE: World Bank

Average annual percentage growth in population (1990-2001)

EU15 0.3 %

US 1.2 %

Japan 0.3 %

4

SOURCE: World Bank

SOURCE: IMF

Gross fixed capital formation(annual % change)

-15

-10

-5

0

5

10

15

1985-1994 1995 1996 1997 1998 1999 2000 2001 2002

EU

US

Japan

NICs

5

Proiezione al 2020 del PIL dell’UE e degli USA, supponendo una crescita annua dell’1.5% nell’UE e del 2.5% negli USA

20012020

GDP per capita EU15/US 70%58%

GDP EU15/US 89%74%

6

SOURCE: World Bank

Employment percentage growth

-2.5

-2

-1.5

-1

-0.5

0

0.5

1

1.5

2

2.5

3

1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002

EU15

US

Japan

SOURCE: OECD

7

Participation rate

55

60

65

70

75

80

1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002

Japan

US

EU15

SOURCE: OECD

8

9Real GDP 1985-1994 1995-2002(annual percent change) (average) (average)

Advanced economies 3.0 2.7 Japan 3.4 1.2 United States 2.9 3.2 European Union 2.4 2.3 Austria 2.6 2.1 Belgium 2.3 2.2 Denmark 1.8 2.4 Finland 1.2 3.9 France 2.1 2.3 Germany 2.7 1.5 Greece 1.7 3.4 Ireland 3.7 8.8 Italy 2.1 1.9 Luxembourg 6.1 4.9 Netherlands 2.6 2.9 Portugal 3.3 3.1 Spain 2.9 3.3 Sweden 1.7 2.9 United Kingdom 2.6 2.6 Newly industrialized Asian economies* 7.8 4.9Developing countries 5.1 5.0 Africa 1.9 3.4 Developing Asia 7.7 6.6 China 10.2 8.4 Central and Eastern Europe - 3.3 Middle East and Turkey 2.9 4.0 Western Emisphere 3.1 2.2

SOURCE: IMF * Newly industrialized countries include Hong Kong SAR, Korea, Singapore, Taiwan Province of China

* Missing values for Ireland, in 1991 missing value for Greece

SOURCE: OECD

10Employment in agricolture(% of total employment)

1991

1991

1991

1995 1995

1995

19961996

1996

19971997

1997

1998 1998

1998

1999 1999

1999

2000

2000

2000

0.0

1.0

2.0

3.0

4.0

5.0

6.0

7.0

8.0

9.0

EU15* Japan United States

Employment in industry(% of total employment)

1991

1991

1991

1995

1995

1995

1996

1996

1996

1997

1997

1997

1998

1998

1998

1999

1999

1999

2000

2000

2000

0.0

5.0

10.0

15.0

20.0

25.0

30.0

35.0

40.0

EU15* Japan United States

* Missing values for Ireland, in 1991 missing value for Greece

SOURCE: OECD

11

Employment in services (% of total employment)

1991

1991

1991

1995

1995

1995

1996

1996

1996

1997

1997

1997

1998

1998

1998

1999

1999

1999

2000

2000

2000

0.0

10.0

20.0

30.0

40.0

50.0

60.0

70.0

80.0

90.0

EU15* Japan United States

* Missing values for Ireland, in 1991 missing value for Greece

SOURCE: OECD

12

* Missing values for Ireland

SOURCE : OECD

Employment in agricolture, hunting, forestry and fishing

(% of total employment)

1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 1991-2000Austria 17.5 17.0 16.6 16.1 15.6 15.1 14.7 14.2 13.9 13.4 -4.0Belgium 2.5 2.4 2.4 2.4 2.4 2.2 2.1 2.1 2.1 2.0 -0.5Denmark 5.4 5.4 5.1 4.8 4.6 4.4 4.2 4.0 3.7 3.6 -1.8Finland 9.0 9.0 8.9 8.8 8.1 7.6 7.2 6.6 6.5 6.2 -2.8France 5.6 5.4 5.3 5.1 4.9 4.8 4.7 4.6 4.4 4.2 -1.4Germany 4.0 3.5 3.3 3.1 3.0 2.7 2.7 2.6 2.6 2.5 -1.6Greece - - - - 19.6 19.4 18.8 18.0 18.1 17.3 -Italy 7.1 6.9 6.5 6.3 6.0 5.7 5.6 5.3 5.0 4.8 -2.3Luxembourg 2.9 2.7 2.4 2.2 2.0 1.9 1.9 1.8 1.7 1.6 -1.3Netherlands 4.3 4.4 4.3 4.2 4.0 4.0 3.9 3.6 3.5 3.5 -0.9Portugal 14.7 13.3 12.4 12.3 12.2 12.1 11.7 11.1 11.0 11.0 -3.7Spain 9.8 9.3 9.0 8.6 8.1 8.1 8.0 7.7 7.2 6.7 -3.1Sweden 3.2 3.2 3.4 3.3 3.1 3.0 2.9 2.8 2.8 2.7 -0.4United Kingdom 2.3 2.3 2.2 2.2 2.0 2.0 2.0 2.0 1.8 1.7 -0.6EU15* 7.0 6.7 6.5 6.3 7.3 7.1 6.9 6.6 6.4 5.1 -2.0Japan 8.3 8.0 7.6 7.3 7.2 6.9 6.6 6.6 6.5 6.4 -2.0United States 2.6 2.6 2.6 2.6 2.7 2.6 2.6 2.5 2.5 2.4 -0.3

13

Employment in industry

(% of total employment)

* Missing values for Ireland

SOURCE: OECD

1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 1991-2000Austria 27.6 27.2 26.8 26.3 26.5 26.4 26.1 26.0 25.5 25.2 -2.4Belgium 26.6 26.4 25.9 25.5 25.3 24.8 24.2 23.9 23.5 23.3 -3.4Denmark 25.2 24.8 24.5 24.2 24.5 24.5 24.1 23.9 23.4 23.1 -2.1Finland 29.9 28.9 28.1 27.3 27.0 27.0 26.9 27.5 27.6 27.8 -2.1France 26.9 26.2 25.1 24.4 24.2 23.8 23.3 22.9 22.5 22.3 -4.6Germany 36.8 35.0 33.9 32.9 32.6 32.2 31.5 30.8 29.9 29.4 -Greece - - - - 24.5 24.6 24.2 23.6 24.0 23.7 -Italy 31.6 31.2 31.4 31.4 31.1 30.6 30.4 30.5 30.0 29.5 -2.1Luxembourg 29.1 29.1 28.7 27.9 27.2 26.5 25.9 25.0 24.0 22.8 -6.3Netherlands 24.1 23.6 22.9 22.2 21.7 21.1 20.7 20.5 20.2 19.9 -4.1Portugal 33.1 31.6 31.4 31.2 31.2 30.9 30.8 31.2 30.6 30.1 -3.0Spain 29.3 29.3 29.1 28.0 27.4 28.0 28.0 27.9 28.0 28.4 -0.9Sweden 26.1 25.5 24.8 23.9 24.3 24.5 24.5 24.3 23.7 23.6 -2.4United Kingdom 26.9 25.8 24.3 23.8 23.7 23.4 23.0 22.8 22.0 21.4 -5.5EU15* 28.4 27.7 27.0 26.4 26.1 25.9 25.5 25.4 24.9 24.6 -3.8Japan 33.7 33.6 33.0 32.6 31.9 31.7 31.4 31.0 30.4 30.0 -3.6United States 21.6 20.9 20.3 20.2 20.1 19.8 19.7 19.6 19.3 19.1 -2.5

14

Employment in services

(% of total employment)

* Missing values for Ireland

SOURCE: OECD

1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 1991-2000Austria 54.8 55.6 56.6 57.4 57.8 58.5 59.1 59.9 60.6 61.5 6.7Belgium 70.7 71.1 71.6 72.0 72.5 73.1 73.7 73.9 74.4 74.6 3.9Denmark 69.5 70.0 70.5 70.9 70.6 71.0 71.6 72.0 72.8 73.1 3.6Finland 62.3 63.5 64.3 64.7 64.7 65.3 65.4 65.5 65.6 65.9 3.6France 67.5 68.4 69.6 70.5 70.9 71.4 72.0 72.5 73.1 73.5 6.0Germany 59.2 61.2 62.6 63.6 64.3 65.4 66.2 66.8 67.7 68.4 9.1Greece - - - - 55.9 56.0 57.0 57.7 58.0 58.8 -Italy 61.1 61.8 62.3 62.6 63.0 63.8 64.0 64.3 64.9 65.6 4.5Luxembourg 66.9 67.5 68.6 69.9 70.6 71.5 72.2 73.0 74.3 75.3 8.4Netherlands 71.5 72.1 72.8 73.6 74.2 74.8 75.1 75.8 76.1 76.4 4.8Portugal 52.3 55.1 56.2 56.4 56.6 57.0 57.5 57.7 58.4 58.9 6.6Spain 60.5 62.0 62.9 63.6 64.0 63.9 63.8 63.9 63.9 64.1 3.6Sweden 70.8 71.9 72.8 73.2 72.4 72.6 72.7 72.8 73.3 73.5 2.7United Kingdom 71.6 72.9 73.8 74.1 74.5 74.8 75.1 75.0 76.2 76.8 5.1EU15* 64.6 65.8 66.6 67.3 66.5 67.1 67.6 68.0 68.5 69.0 4.4Japan 57.7 58.1 59.1 59.9 60.8 61.3 61.7 62.8 63.2 63.7 6.0United States 76.1 76.7 76.9 77.0 77.1 77.4 77.5 77.7 78.0 78.3 2.2

15

16Real effective exchange rate:

ulc relative to rest of 22 industrialized countries

(US $, percentage change)

1963-1990 1991-1995 1996-2000 2001

EU15 0.6 -1.8 -3.6 0.9

Japan 2.4 8.2 -2.7 -13.1

US -1.7 -0.7 4.2 4.5

SOURCE: Economic forecasts, European Commission, Autumn 2002

Labour productivity in the EU vis-à-vis the US

SOURCE: European Competitiveness Report 2001

17

18

1990-1995 1995-2001 Labour productivity

in 2001 (US=100)

Ireland 2.7 3.9 87

Luxembourg 4.9 3.4 145

Portugal 2.3 2.9 48

Finland 3.2 2.9 76

Greece 2.8 1.9 59

Austria 1.9 1.9 70

Sweden 2.8 1.9 67

Belgium 1.7 1.6 92

United Kingdom 2.5 1.6 72

Denmark 2.5 1.5 76

France 1.2 1.3 78

Germany 2.3 1.2 71

Netherlands 1.0 1.0 72

Italy 2.0 0.9 82

Spain 2.0 0.9 65

EU15 2.0 1.3 73

United States 1.5 2.5 100

Japan 0.8 1.1 67

Labour productivity in EU Member States, US and Japan in 1975-2001(average annual growth of GDP/ employed person in per cent)

SOURCE: European Competitiveness Report 2002

Average years of education of the working population, 1971-99 (US=100)

SOURCE: European Competitiveness Report 2002

19

20Average years of education in 1999 (labour force)

SOURCE: European Competitiveness Report 2002

Austria 12.5Belgium 11.8Denmark 12.9Finland 12.5France 11.2Germany 13.3Greece 10.6Ireland 11.1Italy 10.9Luxembourg 11.1Netherlands 12.4Portugal 8.0Spain 9.9Sweden 12.0United Kingdom 12.5EU15 11.1United States 12.8Japan 12.6

21ICT expenditure(% of GDP)

0.00

2.00

4.00

6.00

8.00

10.00

12.00

1992 1993 1994 1995 1996 1997 1998 1999 2000 2001

EU15

US

JAPAN

SOURCE: World Bank

Gross Expenditure in R&D(as % of GDP)

0

0.5

1

1.5

2

2.5

3

3.5

1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001

EU15

Japan

US

SOURCE: World Bank

22