In 2023, Germany dominated the European labor costs in transport equipment, contributing significantly with 63.03 million euros. France and Italy followed at a distance with labor costs of 11.51 and 9.5 million euros, respectively. Slovakia showcased a remarkable year-on-year growth of 4.56%, while Ireland experienced a significant decline of -6.73%. Over the last five years, substantial growth was observed across various smaller markets, highlighting diversification in the labor cost landscape.
Looking ahead, watch for continued increases in Eastern European countries, as they might close the gap with Western countries through rising industry investments and competitive advantages.
Top countries in Labour Costs in Transport Equipment Share by Country (Million Euros)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 63.03 | 2023 | +2.15% | +2.54% | View data |
| 2 | 2 France | 11.51 | 2023 | +1.1% | +1.06% | View data |
| 3 | 3 Italy | 9.5 | 2023 | +1.27% | +1.31% | View data |
| 4 | 4 Spain | 7.01 | 2023 | +1.11% | +0.95% | View data |
| 5 | 5 Austria | 2.29 | 2023 | +2.54% | +1.89% | View data |
| 6 | 6 Netherlands | 1.9 | 2023 | +1.93% | +1.64% | View data |
| 7 | 7 Slovakia | 1.79 | 2023 | +4.12% | +4.56% | View data |
| 8 | 8 Belgium | 1.67 | 2023 | -0.63% | -0.8% | View data |
| 9 | 9 Finland | 0.58 | 2023 | +1.09% | +0.93% | View data |
| 10 | 10 Slovenia | 0.34 | 2023 | +2.58% | +2.22% | View data |
