In 2023, Germany led Europe in labor costs in the fabricated metal products sector with 45.69 billion euros, followed by Italy with 20.54 billion euros. Spain and the Netherlands had significantly lower figures, while Estonia, Greece, and Ireland trailed with the lowest costs. Over the past two years, countries like Slovakia, Slovenia, and Ireland saw notable increases. Conversely, Greece experienced a decline. The 5-year CAGR highlights Slovakia and Estonia as leaders in cost growth, indicating significant investment and expansion in these regions.
Future trends to monitor include potential labor cost increases in Eastern Europe and the effects of automation in reducing costs across the continent. Watch for shifting industry investments due to economic and policy changes, which may impact these trends significantly.
Top countries in Labour Costs in Fabricated Metal Products by Country
| # | 10 Countries | Million Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 45,690 | 2023 | +1.56% | +1.46% | View data |
| 2 | 2 Italy | 20,540 | 2023 | +1.5% | +1.49% | View data |
| 3 | 3 Spain | 8,350 | 2023 | +0.65% | +0.25% | View data |
| 4 | 4 Netherlands | 4,740 | 2023 | +1.17% | +1.07% | View data |
| 5 | 5 Austria | 4,500 | 2023 | +2.01% | +1.91% | View data |
| 6 | 6 Belgium | 2,620 | 2023 | -0.095% | +0.18% | View data |
| 7 | 7 Finland | 2,010 | 2023 | +1.21% | +1.08% | View data |
| 8 | 8 Slovakia | 1,260 | 2023 | +3.52% | +3.68% | View data |
| 9 | 9 Slovenia | 968.4 | 2023 | +2.55% | +2.46% | View data |
| 10 | 10 Ireland | 658.97 | 2023 | +2.12% | +2.44% | View data |
