Description
Recent crises – such as the pandemic, raw material shortages, maritime transport disruptions and the Ukraine war – have disrupted EU firms’ supply chains and exposed their dependency on foreign imports. This study, conducted by the European Investment Bank in collaboration with the Directorate-General for Internal Market, Industry, Entrepreneurship and SMEs (DG GROW) looked at how EU firms are adapting to these challenges. Some key findings:
- 37% of EU firms reported that access to commodities and raw materials was a major obstacle, while 34% were affected by disruptions in logistics and transport.
- Despite these difficulties, EU firms have demonstrated remarkable agility and enhanced the resilience of their supply chains by increasing inventories, investing in digital tracking and diversifying trade partners.
- The report also found that the resulting innovation, digitalisation, strengthened management and productivity gains are helping EU companies to develop and improve their ability to withstand future trade shocks.
However, geopolitical tensions and global disruptions are on the rise, increasing concerns about the security of Europe’s economy and highlighting the need for coordinated EU responses.
