Last year well over 70% of all euro banknote sales were made to end customers in other European countries. Switzerland accounted for a substantial proportion of sales and demand was also strong from the UK and Russia. Euro notes flowed back mainly from eastern European countries of the European Union and from the eastern non-EU countries, such as Turkey.
Over half of all purchases thus came from eastern Europe. Over the years, the flows of euro banknotes have remained largely the same. Switzerland has traditionally been a key purchaser, because it, together with Liechtenstein, is completely surrounded by euro area countries. In cross-border trade in goods and services large amounts are often paid in cash.