After experiencing a notable decline in 2020, the European Union’s production of manufactured goods has been on an upward trajectory. In 2021, industrial production in the EU increased by 8% compared to the previous year, and this trend continued into 2022 with a 5% growth compared to 2021.
To provide some context, the EU’s production of manufactured goods had a period of slight decline between 2012 and 2014, followed by a gradual increase until 2018. In 2019, there was a minor dip in the value of sold production, which was further exacerbated in 2020 due to the impact of the COVID-19 pandemic and associated containment measures. However, the subsequent years, 2021 and 2022, witnessed a resurgence in production across all industrial activity groups.
In terms of nominal values, the EU’s value of sold production saw a significant increase, jumping from €5,209 billion in 2021 to €6,179 billion in 2022, reflecting a substantial 19% growth. This data is sourced from Eurostat, and further details can be found in the more comprehensive Statistics Explained article on industrial production, which also offers in-depth analysis by country and sector.
The EU’s Value of Sold Industrial Production (2015=100) – A Decade of Progress (2012-2022)
When focusing on the top seven groups of manufacturing activities, the most significant increase in the value of sold production was observed in the manufacturing of basic metals and fabricated metal products, with a substantial 42% growth in production value (at current prices). This sector’s production value rose from €788 billion in 2021 to €1,118 billion in 2022.
Following closely, the manufacturing of food, beverages, and tobacco experienced a 17% increase in sold production value (from €872 billion in 2021 to €1,021 billion in 2022). Additionally, the manufacturing of chemicals saw a 19% growth in sold production value, going from €460 billion to €547 billion. Other notable increases include the production of rubber and plastic products (16% growth, from €437 billion to €508 billion) and machinery and equipment (10% growth, from €512 billion to €562 billion). These positive trends indicate a promising outlook for the EU’s manufacturing sector.
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