The European Chemicals Manufacturing sector saw significant variations in Gross Value Added by country in 2023. Spain, the largest contributor, saw a year-on-year increase of 4.57%. Belgium, while slightly behind, experienced a 2.78% increase. Austria saw an impressive 9.94% growth, indicating a robust performance. Smaller markets like Lithuania and Luxembourg showed exceptional growth rates of 21.6% and 11.62%, respectively. Croatia also displayed a notable 6.97% increase. Greece, Slovakia, Slovenia, and Latvia all observed moderate growth, whereas Cyprus exhibited minimal growth at 1.22%. These variations highlight dynamic and varied performance across Europe.
Future trends to watch in the European Chemicals Manufacturing sector include continued robust growth in smaller markets like Lithuania and Luxembourg, which could become significant players if these trends persist. Austria's impressive growth also suggests it may continue to rise as a key contributor. Spain and Belgium's steady growth indicates established stability, while the minimal growth in Cyprus suggests it may need strategic initiatives for improvement. Observing how macroeconomic factors and industrial advancements will influence these trends is crucial for strategic planning.
Top countries in Chemicals Manufacturing Gross Value Added by Country
| # | 10 Countries | Million Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Spain | 11,230 | 2023 | +1.85% | +4.57% | View data |
| 2 | 2 Belgium | 10,550 | 2023 | -0.35% | +2.78% | View data |
| 3 | 3 Austria | 4,790 | 2023 | +2.49% | +9.94% | View data |
| 4 | 4 Lithuania | 1,640 | 2023 | +13.23% | +21.6% | View data |
| 5 | 5 Greece | 1,040 | 2023 | -1.58% | +4.07% | View data |
| 6 | 6 Slovakia | 681.43 | 2023 | -10.31% | +4.98% | View data |
| 7 | 7 Slovenia | 458.19 | 2023 | +3.99% | +3.42% | View data |
| 8 | 8 Croatia | 189.78 | 2023 | -2.45% | +6.97% | View data |
| 9 | 9 Luxembourg | 179.59 | 2023 | +1.81% | +11.62% | View data |
| 10 | 10 Latvia | 146.48 | 2023 | +8.67% | +8.64% | View data |
