Eurasia's megamarkets EU Market

Consumer spending accounts for 58% of the EU’s GDP. Europe led the world in mobile phone services with the number of subscriptions in 2008 at 119% of the EU population. The number of out-of-home eating transactions will exceed 41 billion in 2009. Internet is the fastest growing retail channel. In 2008, nearly one-third of individuals in the EU-27 shopped on the internet. The EU’s e-commerce market is valued at € 256 billion (2008). Growing at 25% p.a., it will reach US$ 407 billion in 2011. European sales of organic products reached € 13–14 billion in 2005; the market is growing by 10–15% annually.