The second Annual Single Market Report provides updates on the latest developments across industrial ecosystems, looking at the path to recovery, recent challenges in global supply chains and the economic situation of SMEs. It responds to a renewed attention to the importance of strengthening the resilience of the Single Market. In particular, the report confirms the importance of the effective implementation and enforcement of the Single Market rules, as a well-functioning Single Market enhances security of supply also in times of crisis.
In addition, the report presents a state of play on the actions announced in the 2020 Industrial Strategy, and in its May 2021 update. It also points to the approach taken by the Commission during the Coronavirus crisis to secure the supply of protective personal equipment and to ramp up the industrial production of vaccines. The report also provides a state of play on the implementation of the SME strategy.
Finally, the Annual Single Market Report 2022 highlights that the green and digital transitions require substantial investment to overcome large-scale challenges. Both the Annual Single Market Report 2022 and the report on strategic dependencies build on the first analyses underpinning the 2021 Updated Industrial Strategy, in view of Europe’s transition to a green, digital, resilient and globally competitive economy, while considering the impact of the Coronavirus pandemic on the Single Market. In particular, the report on strategic dependencies looks at five areas – rare earths and magnesium, chemicals, solar panels, cybersecurity and IT software - where Europe faces strategic dependencies on third countries.
A press release on the follow-up report on strategic dependencies is available here.
- Publication date
- 23 February 2022
- Directorate-General for Internal Market, Industry, Entrepreneurship and SMEs