The European Petroleum and Natural Gas Extraction Support Activities sector witnessed varied trends in wages and salaries share in 2023. Norway leads, followed by the UK and Denmark. Notably, Ireland exhibits a substantial 23.64% increase, and Serbia a 9.97% rise. Meanwhile, Bulgaria shows a 7.79% decline, with France also declining slightly. Other countries like Romania and Italy saw modest increases in their shares. Over the last five years, the Compound Annual Growth Rate (CAGR) indicates a gradual upward trend, predominantly driven by growth in emerging markets such as Romania and Ireland.
Looking forward, several trends merit close attention.
- Fluctuating oil prices influencing labor cost dynamics.
- Technological advancements potentially reshaping workforce requirements.
- Regulatory changes impacting operational economics and labor strategies.
- Growing emphasis on sustainability possibly altering investment and labor patterns.
Top countries in Petroleum and Natural Gas Extraction Support Activities Wages and Salaries Share by Country (Million Euros)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Norway | 52.15 | 2023 | +0.81% | +0.18% | View data |
| 2 | 2 United Kingdom | 31.11 | 2023 | -0.72% | +0.36% | View data |
| 3 | 3 Denmark | 5.34 | 2023 | +3.26% | +6.6% | View data |
| 4 | 4 Romania | 3.41 | 2023 | +3.05% | +11.66% | View data |
| 5 | 5 France | 2.72 | 2023 | -1.45% | -0.74% | View data |
| 6 | 6 Italy | 2.02 | 2023 | -0.21% | +0.77% | View data |
| 7 | 7 Serbia | 1.09 | 2023 | +7.95% | +9.97% | View data |
| 8 | 8 Ireland | 0.3 | 2023 | +27.68% | +23.64% | View data |
| 9 | 9 Spain | 0.13 | 2023 | -3.13% | 0% | View data |
| 10 | 10 Bulgaria | 0.004 | 2023 | 0% | -7.79% | View data |
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