The European textile, apparel, and leather machinery sector shows varied trends across countries. In 2023, Germany dominated with the highest share of wages and salaries at 52.13 million euros, followed by Italy and France. Notably, smaller economies like the Czech Republic and Bulgaria experienced significant growth rates, with the Czech Republic showing a 4.86% increase, while Bulgaria surged at 14.87%. Conversely, Belgium, Italy, and Austria experienced declines in their wage shares.
Future trends to watch include:
- Potential continued growth in Eastern Europe, leveraging lower wage bases for competitive advantage.
- High growth volatility is expected in smaller markets like Serbia and Bulgaria.
- Stability or modest growth in established markets such as Germany and France as they innovate and invest in technology.
Top countries in Textile, Apparel and Leather Machinery Wages and Salaries Share by Country (Million Euros)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 52.13 | 2023 | +4.09% | +0.33% | View data |
| 2 | 2 Italy | 18.94 | 2023 | +4.42% | -0.54% | View data |
| 3 | 3 France | 10.53 | 2023 | +4.02% | +1.9% | View data |
| 4 | 4 Czech Republic | 4.93 | 2023 | +7.78% | +4.86% | View data |
| 5 | 5 Belgium | 4.1 | 2023 | +1.17% | -1.82% | View data |
| 6 | 6 Spain | 3.1 | 2023 | +4.78% | +3.53% | View data |
| 7 | 7 United Kingdom | 1.7 | 2023 | -0.25% | +0.2% | View data |
| 8 | 8 Sweden | 1.42 | 2023 | -0.3% | +3.55% | View data |
| 9 | 9 Portugal | 1.28 | 2023 | +2.4% | +1.76% | View data |
| 10 | 10 Austria | 0.9 | 2023 | -6.22% | -5.9% | View data |
