After experiencing two consecutive declines, including a 7% decrease in 2020, the EU’s production of manufactured goods has been on a path of recovery and expansion. The EU’s industrial production increased by 8% in 2021 compared to 2020 and continued its upward trajectory with a 5% growth in 2022 compared to 2021.
From 2012 to 2014, the EU’s production witnessed a slight decrease before embarking on a gradual upward trend until 2018. In 2019, there was a minor decline in the value of sold production, which further contracted more sharply in 2020 due to the effects of the pandemic. The outbreak of COVID-19 and the subsequent containment measures implemented by EU countries significantly impacted industrial production in 2020. However, the years 2021 and 2022 demonstrated positive increases in production across all industrial activity groups.
In nominal terms, the EU’s value of sold production rose from €5,209 billion in 2021 to €6,179 billion in 2022, indicating a noteworthy 19% increase. This information is sourced from data on the production of manufactured goods published by Eurostat. The article highlights select findings from the more comprehensive Statistics Explained article on industrial production, which includes detailed analysis by country and sector.
Value of Sold Production in Manufacturing of Basic Metals and Fabricated Metal Products Records a 42% Increase
When examining the top seven groups of manufacturing activities, the most substantial increase in sold production value was observed in the manufacturing of basic metals and fabricated metal products. This sector experienced a notable 42% increase in production value (at current prices), rising from €788 billion in 2021 to €1,118 billion in 2022.
Following this, the manufacturing of food, beverages, and tobacco saw a 17% increase in sold production value (from €872 billion in 2021 to €1,021 billion in 2022), and the manufacturing of chemicals experienced a 19% growth in sold production value (from €460 billion to €547 billion). Additionally, the production of rubber and plastic products grew by 16%, reaching €508 billion from €437 billion, and machinery and equipment increased by 10%, rising from €512 billion to €562 billion. These findings indicate positive trends within the EU’s manufacturing sector.
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