While die-hard Eurovision Song Contest fans are currently supporting their favorites in Stockholm, Euler Hermes, the worldwide leader in trade credit insurance has already announced the winners of the Eurovision Trade Contest. Who has the golden voice, and who earns the 12 points for the best trade performance over the next two years – and who will have to face the music? Economists at Euler Hermes have calculated the additional 2016/2017 export and import gains for each individual country and come up with the rankings – with the appropriate choice of song.
The triumphant winner is Germany with its song “The winner takes a lot” – appropriate for this year’s Stockholm Eurovision venue. Additional exports are expected to the tune of around €110 billion over the next two years for winner Germany, with imports set to run at a further €98 billion in the same period. Great Britain achieves second place with “Don’t go Brexit my Heart”, with €69 billion more in exports and €92 billion more in imports in 2016/2017, followed by the Netherlands with “Sometimes when we Dutch” (+65 billion in exports/ +56 billion in imports) and France with “Comme d’aptitude” (+56 billion in exports / +66 billion in imports).
Musical parallels: from “Living la vida normal” in Spain to “With or without EU” in Poland
“There are some striking parallels between song titles and the European trade nations,” says Ludovic Subran, chief economist at Euler Hermes. “Germany has collected major points for energetic trade performance, and Britain may need to get over the pain of a possible divorce.”
The Netherlands comes in third with gentler sounds, followed by France with a talent for export.
“After turbulent years following the Euro crisis, Spain is returning to growth and normality, and Ireland is the tiger of the eurozone, showing the strongest economic growth,” said Subran. “Poland has lurched back and forth between the EU and a conservative national political discourse, and Norway sings a melancholy song about the ups and downs of the country’s dependency on oil. The rather sad title of the Russian song speaks of their relative economic isolation, with its effect on exports, imports, GDP and insolvencies. The Greeks are slowly steering towards a more stable economic situation, in spite of creditor negotiations and including further turnarounds and set-backs.”
Songs and rankings from the Eurovision Trade Contest
#1 Germany: “The winner takes a lot” (Abba: The Winner Takes it All)
#2 Great Britain: “Don’t go Brexit my heart” (Elton John/Kiki Dee: Don’t go Breaking my Heart)
#3 Netherlands: “Sometimes when we Dutch” (Dan Hill: Sometimes When we Touch)
#4 France: “Comme d’aptitude” (Claude François: Comme d’Habitude)
#5 Italy: “This boot is made for walking” (Nancy Sinatra: These Boots are Made for Walking)
#6 Spain: “Living la vida normal” (Ricky Martin: Living la Vida Loca)
#7 Ireland: “The high of the Tiger” (Survivor: The Eye of the Tiger)
#8 Sweden: “Let it grow” (Idina Menzel, Let it Go)
#9 Belgium: “Shake it on” (Taylor Swift: Shake it Off)
#10 Poland: “With or without EU” (U2: With or Without You)
#11 Czech Republic: “Czech it out” (Will.I.am & Niki Minaj: Check it Out)
#12 Denmark: “Let’s Danes” (David Bowie: Let’s Dance)
#13 Norway: “Why you gotta be so crude?” (Magic!: Why you Gotta be so Rude?)
#14 Finland: “Knock on wood” (Amii Stewart, Knock on Wood)
#15 Greece: “Want you back” (Jackson Five, I Want you Back)
#16 Russia: “Alone again?”(Gilbert O’Sullivan, Alone Again)