In 2023, Germany led European countries in transport equipment labor costs at 91.33 billion euros, followed by France with 16.68 billion euros and Italy with 13.76 billion euros. Slovakia recorded the highest growth rate at 4.56%, while Ireland experienced a decline of 6.73%. Across the past five years, a compound annual growth rate (CAGR) analysis reveals a steady upward trend in most countries except for Belgium and Ireland showing declines.
Future trends to watch include substantial growth in labor costs in Slovakia, indicating a potential shift in industry dynamics. Additionally, the challenging economic landscapes in Belgium and Ireland may continue to impact their labor cost strategies negatively.
Top countries in Labour Costs in Transport Equipment by Country
| # | 10 Countries | Million Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 91,330 | 2023 | +2.15% | +2.54% | View data |
| 2 | 2 France | 16,680 | 2023 | +1.1% | +1.06% | View data |
| 3 | 3 Italy | 13,760 | 2023 | +1.27% | +1.31% | View data |
| 4 | 4 Spain | 10,160 | 2023 | +1.11% | +0.95% | View data |
| 5 | 5 Austria | 3,320 | 2023 | +2.54% | +1.89% | View data |
| 6 | 6 Netherlands | 2,750 | 2023 | +1.93% | +1.64% | View data |
| 7 | 7 Slovakia | 2,590 | 2023 | +4.12% | +4.56% | View data |
| 8 | 8 Belgium | 2,410 | 2023 | -0.63% | -0.8% | View data |
| 9 | 9 Finland | 836 | 2023 | +1.09% | +0.93% | View data |
| 10 | 10 Slovenia | 489.6 | 2023 | +2.58% | +2.22% | View data |
