In 2023, Germany leads in wages and salaries in the wholesale, retail trade and repair of motor vehicles and motorcycles sector, valued at 27.84 billion euros, with a year-on-year increase of 2.42%. France and Italy follow, exhibiting growth rates of 1.88% and 2.33%, respectively. Spain's growth was modest at 0.74%, while countries like Slovakia and Estonia showed stronger increases, each seeing growth above 3%. Greece saw a decline, shrinking by 1.26%. The five-year CAGR reflects a consistent upward trend across most of these nations in wages and salaries.
Future trends suggest a focus on technology-driven efficiencies and automation, which may influence labor costs. Additionally, diversifying into greener vehicles might shift wage distributions, fostering growth in skills training and employment within innovative sectors across Europe.
Top countries in Wages and Salaries in Wholesale, Retail Trade and Repair of Motor Vehicles and Motorcycles by Country
# | 10 Countries | Million Euros | Last Year | YoY | 5-years CAGR | |
---|---|---|---|---|---|---|
1 | 1 Germany | 27,840 | 2023 | +2.02% | +2.42% | View data |
2 | 2 France | 17,470 | 2023 | +1.52% | +1.88% | View data |
3 | 3 Italy | 6,850 | 2023 | +1.63% | +2.33% | View data |
4 | 4 Spain | 6,300 | 2023 | +0.9% | +0.74% | View data |
5 | 5 Netherlands | 4,110 | 2023 | +1.01% | +0.8% | View data |
6 | 6 Belgium | 3,280 | 2023 | +1.76% | +2.04% | View data |
7 | 7 Austria | 2,930 | 2023 | +1.82% | +1.74% | View data |
8 | 8 Finland | 1,750 | 2023 | +2.04% | +2.04% | View data |
9 | 9 Ireland | 942.13 | 2023 | +1.75% | +1.78% | View data |
10 | 10 Greece | 497.13 | 2023 | -2.49% | -1.26% | View data |