In 2023, Germany led European labour costs in ships and boats building, valued at 1.4 billion Euros, with a year-on-year increase of 2.99%. The Netherlands followed at 0.742 billion Euros with a 1.46% rise. Greece, valued at 0.04049 billion Euros, experienced a 4.73% decline. Slovenia and Belgium, at 0.00616 and 0.0037 billion Euros respectively, showed minor changes, with Slovenia decreasing by 0.12% and Belgium increasing by 0.55%. The 5-year compound annual growth rates (CAGR) indicate significant shifts, especially notable in Germany's consistent expansion.
Future trends to watch include technological advancements and automation potentially reducing labour costs, shifts in demand based on environmental regulations, and varying economic conditions influencing competitive labour cost dynamics across European countries.
Top countries in Labour Costs in Ships and Boats Building by Country
| # | 5 Countries | Million Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 1,400 | 2023 | +1.75% | +2.99% | View data |
| 2 | 2 Netherlands | 742 | 2023 | +1.5% | +1.46% | View data |
| 3 | 3 Greece | 40.49 | 2023 | -4.02% | -4.73% | View data |
| 4 | 4 Slovenia | 6.16 | 2023 | +1.23% | -0.12% | View data |
| 5 | 5 Belgium | 3.7 | 2023 | -5.13% | +0.55% | View data |
