Note
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Restrictions on trade and investment consist of Council Decisions [CFSP] 2022/266 and Council Regulation (EU) 2022/263.
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To perform the calculations, we use Smart TIO.
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Smart TIO methodology is available at https://smart-tio.com.
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Shares of exports by country and sector to Russia in 2021 are reported in table A1 in the appendix.
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Table A1 shows the percentage of exports to Russia from Italy and Spain by sector in 2021.
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In our model we did not take into account the negative effects stemming from the reduction of tourists from Russia. Nonetheless, we are aware that this decline in Russian tourists has had an additional negative impact on the service industry, as well as on consumption.
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Note that in this case we have not considered the numbers of workers in terms of full-time equivalent. Hence the difference between sectors may be slightly affected by differences in terms of part-time job intensities.