92 T. PANTAZI AND V. VLACHOS 114.0
Chain linked volumes, index 2005=100
112.0 110.0 108.0 106.0 104.0 102.0 100.0 98.0 2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
Transportation and storage (EU)
Transportation and storage (euro area)
All NACE activities (EU)
All NACE activities (euro area)
Fig. 1 Transportation and storage gross value added in the EU (Source Eurostat database. Notes [1] Chain linked volumes index calculated by authors with data on chain linked volumes [2005], million euro. [2] EU28 for all years. EA12 in 2005–2006, EA13 in 2007, EA15 in 2008, EA16 in 2009–2010, EA17 in 2011–2013, EA18 in 2014, EA19 in 2015–2016)
Figure 1 presents the changes of gross value added of the transportation and storage services sector and of all NACE activities in both EU and the euro area for the period 2005–2016 (2005 = 100). The euro area (whose composition is changing throughout the period in Fig. 1) and the EU (whose composition is fixed) data have similar trends and those of the euro area are less volatile. It can be assumed that the similarity of trends in data is an indication that a smaller EU (with less member states) data set would also have a similar trend. The EU and euro area data trends are also similar in the rest of figures in this chapter. For that reason, data for the euro area are not depicted henceforth. Figure 1 indicates that gross value added of the EU transportation and storage services sector peaked in 2007, declined in 2008 and bottomed in 2009 as a result of the crisis. The sector did not reach the peak of 2007 but managed to recover a great part of the loss until 2016.
