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EU industrial structure - EU Bookshop - Europa

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<strong>EU</strong> <strong>industrial</strong> <strong>structure</strong> 2011 — Trends and Performance<br />

FIgURE II.6: Large economies are less dependent on a few sectors<br />

8<br />

7<br />

6<br />

5<br />

4<br />

3<br />

2<br />

1<br />

0<br />

0 500 1 000 1 500 2 000 2 500<br />

42<br />

LU<br />

BG<br />

GR<br />

RO<br />

LV<br />

PT<br />

EE HU<br />

LT<br />

MT IE<br />

DK<br />

CY<br />

SK CZ<br />

SI<br />

FI<br />

SE<br />

AT<br />

BE<br />

NL<br />

PL<br />

Source: own calculations using Eurostat data.<br />

As explained in Box II.1, being highly specialised in a sector<br />

does not mean that the sector in question represents<br />

a large share in the economy. A sector in which a country<br />

is specialised represents, in proportion, more than in other<br />

countries. In certain countries, sectoral indexes reach<br />

very high values. The indices should be interpreted with<br />

caution. As indicated in the headings below every country<br />

abbreviation, data availability for the countries differs<br />

substantially in some cases. The latest data available for<br />

UK and Poland refer to 2005 and 2006 for Bulgaria. For the<br />

countries where data is available for 2009, the recent crisis<br />

may have affected the specialisation indices significantly<br />

compared to 2008: manufacturing of refined petroleum<br />

products illustrates this. The industry only accounted for 1.7 %<br />

and 1.9 % of Hungarian GDP in 2008 and 2009 respectively.<br />

The corresponding <strong>EU</strong>‑27 shares were 0.3 % and 0.2 %. Even<br />

though the industry declined in absolute terms in Hungary,<br />

the specialisation index increased from 5.5 to 8.5 since it<br />

declined less than the whole economy while the opposite<br />

occurred for the whole <strong>EU</strong>‑27.<br />

ES<br />

IT<br />

UK<br />

FR<br />

The highest sectoral level of specialisation is in Hungary,<br />

with a specialisation of 8.5 in refined petroleum products.<br />

Another high level of sectoral specialisation is found in<br />

Ireland with a specialisation of 6.0 in chemicals. Bulgaria<br />

and Romania show high specialisation in agriculture. These<br />

findings reflect the trend according to which the more<br />

developed a country is, the less important the primary<br />

sector becomes. For mining and quarrying, Bulgaria,<br />

Denmark and the Netherlands are the most specialised.<br />

The lowest specialisation in manufacturing can be found in<br />

Cyprus, Greece, Latvia and Luxembourg, with specialisation<br />

indices between 0.4 and 0.7. Luxembourg stands out as<br />

highly specialised in financial intermediation. Looking<br />

more closely at manufacturing sectors, a few facts are<br />

worth highlighting. The Baltic countries Estonia, Latvia and<br />

Lithuania are highly specialised in the wood industry with<br />

specialisation indices between 3 and 6. Italy still has a very<br />

high specialisation in leather, cf. Table II.2.<br />

DE

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