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EU industrial structure 2011 — Trends and Performance The last column presents production loss during the crises. Production loss is calculated as production during the trough relative to production during the peak before the crisis. The largest production losses during the latest crisis 22 were experienced by industries producing motor vehicles and basic metals. These industries are also subject to large fluctuations as indicated by the high cyclical intensities for these industries, cf. Table I.2. TAbLE I.2: growth and volatility in EU-27 manufacturing industries 1990-2011 (%) nacE rev 2 codes industry max min cycle growth crisis cyclical intensity max min average production loss Capital 12.5 ‑15.9 1.3 16.2 ‑25.3 1.5 ‑25.3 Consumer 3.1 ‑4.2 0.4 5.1 ‑6.7 0.6 ‑6.7 Consumer dur 8.7 ‑11.1 1.1 9.8 ‑20.3 0.0 ‑20.3 Consumer non dur 2.4 ‑3.1 0.3 4.7 ‑4.4 0.7 ‑4.4 Intermediate 10.5 ‑14.6 1.2 13.8 ‑25.7 1.1 ‑25.7 B Mining and quarrying 6.2 ‑5.6 0.7 17.2 ‑16.5 ‑1.1 ‑16.5 c Manufacturing 8.8 ‑11.8 1.0 9.2 ‑19.8 1.2 ‑19.8 c10 Food 1.7 ‑1.9 0.2 5.9 ‑3.4 1.3 ‑3.4 c11 Beverages 3.8 ‑3.3 0.5 15.2 ‑9.4 0.8 ‑7.3 c12 Tobacco 8.7 ‑6.9 0.9 18.5 ‑22.9 ‑3.5 ‑22.9 c13 Textiles 6.7 ‑12.0 1.0 14.5 ‑25.3 ‑2.7 ‑25.3 c14 Clothing 5.8 ‑7.6 1.0 11.4 ‑17.7 ‑4.5 ‑17.7 c15 Leather and footwear 6.3 ‑9.7 1.2 8.3 ‑22.5 ‑4.0 ‑22.5 c16 Wood and wood products 8.0 ‑9.8 1.1 13.6 ‑22.1 0.3 ‑22.1 c17 Paper 5.7 ‑8.1 0.7 10.8 ‑15.1 1.2 ‑15.1 c18 Printing 3.3 ‑5.0 0.6 13.5 ‑8.2 0.3 ‑8.2 c19 Refined petroleum 4.2 ‑3.9 0.5 14.3 ‑11.2 0.2 ‑11.2 c20 Chemicals 7.4 ‑12.1 0.9 17.1 ‑22.2 1.7 ‑22.2 c21 Pharmaceuticals 2.1 ‑4.2 0.4 16.8 ‑8.7 5.1 ‑2.7 c22 Rubber & plastics 9.4 ‑12.3 1.1 17.7 ‑22.0 1.4 ‑22.0 c23 Non‑metallic mineral products 8.6 ‑11.8 1.1 13.4 ‑24.0 ‑0.2 ‑24.0 c24 Basic metals 13.7 ‑21.8 1.6 36.2 ‑40.3 0.5 ‑40.3 c25 Metal products 12.6 ‑15.8 1.4 13.3 ‑27.9 0.7 ‑27.9 c26 Computers, electronic & optical 14.5 ‑16.0 1.6 23.2 ‑19.6 3.4 ‑19.6 c27 Electrical equipment 12.7 ‑17.3 1.5 16.5 ‑27.5 1.2 ‑27.5 c28 Machinery n.e.c. 16.0 ‑21.3 1.8 20.4 ‑30.6 1.0 ‑30.6 c29 Motor vehicles 17.1 ‑22.9 1.8 34.9 ‑44.6 2.8 ‑44.6 c30 Other transport eq. 5.2 ‑4.8 0.7 16.7 ‑14.4 0.5 ‑14.4 c31 Furniture 6.1 ‑6.9 0.8 12.1 ‑23.3 0.7 ‑9.3 c32 Other manufacturing 8.8 ‑9.5 1.0 10.7 ‑21.5 ‑0.8 ‑21.5 c33 Repair of machinery 20.9 ‑19.3 2.0 20.0 ‑31.8 ‑1.1 ‑15.3 d Electricity & gas 3.4 ‑3.6 0.4 15.4 ‑13.1 1.4 ‑13.1 F Construction 5.1 ‑4.2 0.7 10.7 ‑13.7 0.5 ‑10.7 F41 Buildings 5.6 ‑5.6 0.8 12.2 ‑13.0 0.8 ‑13.0 F42 Civil engineering 3.8 ‑5.0 0.6 12.5 ‑20.2 ‑0.4 ‑18.3 Source: own calculations using Eurostat data.
i12 services recession and recovery(?) Service industries have grown faster and have been exposed to fewer cyclical fluctuations than total industry since 1996. Inspection of quarterly data on value added in constant prices over the period confirms that the service sector generally shows higher growth rates and less volatility than total industry. 17 Due to limited data availability, the latest crisis can only be compared to the recession at the turn of the millennium. Developments in FIgURE I.8: growth in EU services industries 1996-2011 (%) 10 5 0 -5 -10 -15 -20 1996 1996Q4 1997Q3 1998Q2 1999 17 Since there is no data on production in constant prices, value added is used to calculate growth rates for services. 1999Q4 2000Q3 2001Q2 2001Q2 Chapter I — The aftermath of the crisis — a long and uneven recovery(?) 2002 2002Q4 both recessions, however, show that the fall in production for total industry was significantly larger than for services. 18 In fact, negative growth rates for the service industries did not appear before the latest recession. Data availability only allows for comparison of large aggregates of services industries. Fluctuations for trade, hotels and restaurants are relatively larger than for the other aggregates of service industries. Non‑market services show considerably less volatility, cf. Figure I.8. Non-market services Financial intermediation and business services Trade, hotels and restaurants Total industry (excluding construction) Note: Growth rates in EU services industries and total industry value added in constant prices relative to the same quarter of the previous year in 1996:1‑2011:1 (%). Source: own calculations using Eurostat data. Below, two groups of market services are compared to GDP. The relatively large sensitivity to fluctuations for the group ‘trade, hotels and restaurants is obvious and fluctuations in production for these service industries are larger than for GDP as a whole. Also the growth in value added for this group of service industries exceeds that of GDP for the period 1996‑2009. 2003Q3 2004Q2 2005 2005Q4 2006Q3 2007Q2 Growth rates for ‘Financial intermediation and business services’ are higher and fluctuate less than growth rates for ‘trade, hotels and restaurants. The fall in production was also less than half of that for GDP. The figure indicates that developments in the sector lag behind that of GDP. The decline begins later, the trough appears later and finally the recovery begins a quarter later than the recovery of GDP, cf. Figure I.9. 18 Total industry consists of mining and quarrying, manufacturing and industries producing electricity, gas and water. 2008 2008Q4 2009Q3 2010Q2 2011 23
Page 1: EU industrial structure 2011 Trends
Page 4 and 5: ENTERPRISE & INDUSTRY MAGAZINE The
Page 6 and 7: EU industrial structure 2011 — Tr
Page 17 and 18: Chapter I The aftermath of the cris
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Page 23: The previous figures imply that the
Page 27 and 28: Chapter I — The aftermath of the
Page 29 and 30: nacE rev 2 growth 2009 Chapter I
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Page 33 and 34: The business survey indicator used
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Chapter IV International competitiv
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Chapter IV — International compet
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FIgURE IV.1: EU accounts for almost
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TAbLE IV.4: EU exports of manufactu
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iv22 Export market shares Export ma
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iv23 sectoral trade balance The rel
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FIgURE IV.3: EU-27 RCA index in 200
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RCA‑indices for individual manufa
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communi‑ cation computer and info
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The import dependence of exports, v
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In many sectors, outward EU‑27 FD
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iv62 internationalisation of r&d An
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