The data on hours worked in the Precious Metals and Non-Ferrous Metals Manufacturing sector in Belgium from 2013 to 2023 show an overall decreasing trend. After a peak in 2018, the industry has experienced declines almost each subsequent year. By 2023, the hours worked fell to approximately 10.52 million hours, with a year-on-year decrease of 1.32% and a 1.07% annual decline forecasted over the next five years. The compound annual growth rate (CAGR) over the last five years highlights a negative growth trend of about 2.91%.
Future trends to watch for include:
- Impact of automation and technology advancements on labor hours in the sector.
- Changes in global demand and commodity prices for precious and non-ferrous metals.
- Regulatory changes and their implications for the industry.
