In 2024, the labor cost per employee FTE in the European iron casting industry reveals a stark disparity among countries. Iceland leads with the highest cost at 125.2 thousand euros, followed by Belgium and Norway. Central and Eastern European countries like Bulgaria, Romania, and Lithuania have considerably lower costs, demonstrating regional economic variances. Over the last two years, the trend has been largely static, with notable consistency in labor costs across the board. The 5-year compound annual growth rate is insignificant, indicating minimal change over the longer term.
Looking ahead, some potential trends include the influence of automation in iron casting processes, which could affect labor costs differently across regions, and the impact of economic policies within the European Union aimed at leveling economic discrepancies between member states.
Top countries in Iron Casting Labour Cost Per Employee FTE by Country
| # | 10 Countries | Thousand Euros | Last Year | |
|---|---|---|---|---|
| 1 | 1 Iceland | 125.2 | 2023 | View data |
| 2 | 2 Belgium | 71.9 | 2023 | View data |
| 3 | 3 Norway | 70.6 | 2023 | View data |
| 4 | 4 Austria | 69.1 | 2023 | View data |
| 5 | 5 Denmark | 65 | 2023 | View data |
| 6 | 6 Germany | 59.7 | 2023 | View data |
| 7 | 7 Italy | 56.8 | 2023 | View data |
| 8 | 8 Sweden | 55.3 | 2023 | View data |
| 9 | 9 France | 54.4 | 2023 | View data |
| 10 | 10 Finland | 52.3 | 2023 | View data |
