Flash Eurobarometer 424 (Possible Obstacles to Using the Euro in International Trade)

Obstacles to using the euro in international trade.<br>Topics: 1. Questionnaire A (only in FR, DE, IT, and NACE-Codes B, C, D): percentage of intra-group exports in the last fiscal year; three largest exporting countries outside the euro area measured by value; share of exports invoiced in euro; other currencies used; same main currency to settle imports and exports from outside the euro area; benefit for own company from trade invoicing of exports and imports in euro with partners from outside the euro area; reasons for using currencies other than the euro for export invoicing; strongest bargaining power in setting the invoice currency in the company’s sector: importer, exporter, larger company, depends; reasons for invoicing in foreign currencies; trade practices that do not allow to set the euro as invoicing currency; measures to address exchange rate risks in international trade activities; reasons for not addressing exchange rate risks; importance of each of the following factors when choosing the euro as invoicing currency: transaction size, contract duration and delivery time, exchange rate volatility of the euro, interest rates, macroeconomic shocks; impact of the recent European sovereign debt crisis on the use of the euro in invoicing practices; preconditions to increase the use of the euro in international trade.

2. Questionnaire B (only in FR, DE, IT, and NACE-Codes K, M): share of services provided to intra-group entities based abroad on the basis of all services provided to entities based abroad (in percent); three largest exporting countries outside the euro area measured by value; share of services provided to entities based abroad invoiced in euro; other currencies used; benefit for own company from invoicing provided or received services in euro with partners from outside the euro area; reasons for using currencies other than the euro for invoicing serviced provided to entities based abroad; strongest bargaining power in setting the invoicing currency in the company’s sector: invoicing entity, invoiced customer, larger company, depends; reasons for invoicing in foreign currencies; trade practices that do not allow to set the euro as invoicing currency; measures to address exchange rate risks in international trade activities; reasons for not addressing exchange rate risks; importance of each of the following factors when choosing the euro as invoicing currency: transaction size, contract duration and delivery time, exchange rate volatility of the euro, interest rates, macroeconomic shocks; impact of the recent European sovereign debt crisis on the use of the euro in invoicing practices; preconditions to increase the use of the euro in international trade.

3. Questionnaire C (only in UK, and NACE-Codes K, M): share of services provided to intra-group entities based abroad on the basis of all services provided to entities based abroad (in percent); three largest exporting countries inside the euro area measured by value; share of services provided to entities based abroad invoiced in euro; share of services provided to entities based abroad invoiced in currencies other than the euro or the British pound; benefit for own company from invoicing provided or received services in euro with partners based abroad; reasons for using the euro for invoicing serviced provided to entities based abroad; strongest bargaining power in setting the invoicing currency in the company’s sector: invoicing entity, invoiced customer, larger company, depends; reasons for not invoicing in euro; trade practices that do not allow to set the euro as invoicing currency; measures to address exchange rate risks in international trade activities; reasons for not addressing exchange rate risks; importance of each of the following factors when choosing the euro as invoicing currency: transaction size, contract duration and delivery time, exchange rate volatility of the euro, interest rates, macroeconomic shocks; impact of the recent European sovereign debt crisis on the use of the euro in invoicing practices; preconditions to increase the use of the euro in international trade.

Demography: information about the company: company size, number of employees; country of registration for trade and financial reporting; turnover of the company in the last fiscal year; percentage of the company’s turnover in the last fiscal year coming from exports; percentage of exports into and outside the euro area in the last fiscal year; percentage of the company’s turnover in the last fiscal year coming from imports; percentage of imports from and from outside the euro area in the last fiscal year.

Additionally coded was: country; NACE-Code; questionnaire split.