In 2023, Germany led European labor costs in the rubber and plastics sector, with a significant share of €53.14 million, followed by Italy at €18.72 million, and Spain at €8.83 million. Notable year-on-year growth was recorded in Slovakia (4.09%), Slovenia (2.73%), and Estonia (2.93%). Conversely, Finland showed the smallest increase at 0.37%. Over the last five years, these variations reflect a compounded average growth across Europe, with smaller economies experiencing higher growth rates.
Looking ahead, potential trends include technological advancements increasing efficiency and potentially curbing costs, as well as geopolitical shifts influencing labor market dynamics and the regulatory landscape in Europe.
Top countries in Labour Costs in Rubber and Plastics Products Share by Country (Million Euros)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 53.14 | 2023 | +1.67% | +1.79% | View data |
| 2 | 2 Italy | 18.72 | 2023 | +1.15% | +1.19% | View data |
| 3 | 3 Spain | 8.83 | 2023 | +0.84% | +0.87% | View data |
| 4 | 4 Netherlands | 4.54 | 2023 | +1.59% | +1.7% | View data |
| 5 | 5 Austria | 4.1 | 2023 | +1.82% | +1.79% | View data |
| 6 | 6 Belgium | 4.06 | 2023 | +1.53% | +2.01% | View data |
| 7 | 7 Slovakia | 1.98 | 2023 | +3.68% | +4.09% | View data |
| 8 | 8 Finland | 1.55 | 2023 | +0.46% | +0.37% | View data |
| 9 | 9 Slovenia | 1.18 | 2023 | +2.9% | +2.73% | View data |
| 10 | 10 Ireland | 0.92 | 2023 | +1.28% | +2.19% | View data |
