Negotiations on a trade agreement between the European Union and the United Kingdom have once again reached an impasse. On Friday evening, EU negotiator Barnier and his British counterpart took a break, after which negotiations continued on Sunday. The conditions for a trade deal were "not fulfilled". The current transition period applies up to and including 31 December 2020.
The very essence of the European Union is the borderless trade of goods and services. It has been built upon free movement of goods, services, capital, and labour between EU-countries. This objective is also what lies at a Digital Single Market. This concept has become more important than ever because of the continued upward trend in e-commerce. However, over half of online
In many European countries, online trade has emerged as a strong force. The declining share of consumer spending on brick-and-mortar retail reflects this. Last year, in the 27 European Union countries, the retail turnover share of private consumption decreased by 1%. On average, EU consumers spend 29.9% of their money on brick-and-mortar retail according to GfK. Germany places
Cross-border has experienced an increase of 14.4% compared to the year before. The cross-border market (excluding travel) represented a turnover of around 109 billion euros in 2019. The cross-border share represents 23.55% of total online sales in Europe according to CBCommerce Europe. Players within the European Union (55%) generate most of the cross-border trade in
Within the European Union online shopping is becoming increasingly more popular. According to Eurostat, 63% of people in the EU, aged 16-74, shopped online during 2019. In 2008 only 32% of this age group shopped online. While looking at the figures of 2019, United Kingdom (87%), Denmark (84%), Sweden (82%), the Netherlands (81%) and Germany (79%) contained the highest