In 2023, Germany led European labor costs in Coke and Refined Petroleum Products at 1.82 billion euros. Comparing year-on-year changes from 2022 to 2023, Germany saw an increase of 1.61%, while Spain's costs rose by 1.0%, and Belgium's spiked by 2.78%. Conversely, costs dipped in France by 0.75% and in the Netherlands by 1.49%. Greece and Finland experienced notable growth at 1.67% and 1.54%, respectively. Austria showed a modest increase at 0.4%, whereas Lithuania fell by 2.35%. Estonia had the highest growth at 2.89%, despite having lower absolute values than larger economies like Germany or Spain.
Looking ahead, European labor costs in this sector will likely be influenced by geopolitical factors, energy transition policies, and innovations regarding decarbonization efforts. Monitoring regulation changes, labor market dynamics, and varying country-specific industrial strategies will be crucial for anticipating labor cost trends across different countries in the coming years.
Top countries in Labour Costs in Coke and Refined Petroleum Products by Country
| # | 10 Countries | Million Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 1,820 | 2023 | +1.73% | +1.61% | View data |
| 2 | 2 Spain | 825 | 2023 | +1.23% | +1% | View data |
| 3 | 3 Belgium | 820.6 | 2023 | +1.7% | +2.78% | View data |
| 4 | 4 France | 810 | 2023 | -0.12% | -0.75% | View data |
| 5 | 5 Netherlands | 550 | 2023 | -1.08% | -1.49% | View data |
| 6 | 6 Greece | 325.9 | 2023 | +0.74% | +1.67% | View data |
| 7 | 7 Finland | 231 | 2023 | +1.32% | +1.54% | View data |
| 8 | 8 Austria | 179.49 | 2023 | +1.08% | +0.4% | View data |
| 9 | 9 Lithuania | 40.4 | 2023 | -1.7% | -2.35% | View data |
| 10 | 10 Estonia | 35.4 | 2023 | +2.91% | +2.89% | View data |
