EU industrial structure - EU Bookshop - Europa

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EU industrial structure 2011 — Trends and Performance FIgURE III.3: EU average annual production growth rate in 1995-2010 (%) Optical instruments and photographic eq. Air and spacecraft and related machinery Irradiation, electromedical and electrotherapeutic equipment Medical and dental instruments Motor vehicles Forging, pressing, stamping and roll Installation of industrial machinery and equipment Parts and accessories for motor vehicles Instruments and appliances for measuring General purpose machinery Processing and preserving of sh Soap and detergents Agricultural and forestry machinery Basic chemicals Pulp, paper and paperboard Bakery and farinaceous products Processing and preserving of meat Electric motors Vegetable and animal oils Grain mill products Wiring Other chemical products Processing and preserving of fruit Treatment and coating of metals Other food products Batteries and accumulators Sawmilling Other electrical equipment Cement, lime and plaster Concrete, cement and plaster Refractory products Wood, cork, straw and plaiting materials Tanning and dressing of leather Tanks, reservoirs and containers of metal Domestic appliances Ships and boats Other textiles Transport equipment n.e.c. Man-made bres Clay building materials Computers and peripheral equipment Other porcelain and ceramic products Finishing of textiles Weaving of textiles Clothing Knitted and crocheted clothing Preparation and spinning of textile Musical instruments Footwear Magnetic and optical media -10 -8 -6 -4 -2 0 2 4 6 Note: The figure only shows the 25 high and low (negative) growth sextors. Source: own calculations using Eurostat data. III.2 Sectoral competitiveness indicators Competitiveness is a multidimensional concept, which is studied from two perspectives in this report. The first perspective looks at means for industries to improve their competitiveness by lowering their costs, increasing their productivity, employing skilled labour, renewing their capital stock and increasing their spending on R&D and innovation to upgrade their products. Different indicators which measure aspects of an industry’s competitiveness, such as labour productivity and unit labour costs (ULC), are the subject of the remainder of this chapter. The second perspective studies how effective industries have been in improving their competitiveness in the international markets. This perspective is analysed in Chapter V. 60 This section presents a set of indicators on EU sectoral growth, productivity, unit labour costs and relative prices. The objective is to present stylised facts across the main sectors of the economy and to show the role of labour productivity in sectoral competitiveness. More precisely, market services are sub‑divided into two groups. The first consists of wholesale and retail trade, repair of motor vehicles, motorcycles and personal and household goods, hotels and restaurants, transport, storage and communication (NACE Rev. 1 categories G to I) and the second comprises financial intermediation, real estate, renting and business activities (NACE Rev. 1 categories J and K). Non‑market services encompass public administration and defence, compulsory social security; education; health and social work; other community, social and personal service activities; private households with employed persons (NACE Rev. 1 categories L to P). Industry
encompasses mining, manufacturing and electricity, gas and water supply. Value added in constant (1995) prices grew steadily, although at different rates, in all sectors but agriculture until 2008. All sectors except non‑market services and FIgURE III.4: EU value added in 1995-2010 (1995 = 100) 160 150 140 130 120 110 100 90 Agriculture, hunting, forestry and shing Total industry Financial intermediation and business services Non-market services Construction Total Wholesale and retail trade Chapter III — Drivers of Sector Growth and Competitiveness 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 Source: own calculations using Eurostat data. But while value added grew substantially in financial intermediation and wholesale and retail, employment also rose quickly. Labour productivity growth per person employed since 1995 was higher in the industrial sectors than in wholesale, retail and financial intermediation. The agriculture have seen their value added decrease during the latest crisis. Financial services and wholesale and trade displayed higher growth rates than other activities over the whole time period. The largest declines during the crisis occurred in total industry and the construction sector, cf. Figure III.4. fall in labour productivity during the crisis and the upward movement during the recovery reflects the pro‑cyclical pattern due to labour hoarding in industry when demand and production decreases, cf. Figure III.5. FIgURE III.5: EU labour productivity per person employed in 1995-2009 (1995 = 100) 150 140 130 120 110 100 90 80 Total industry Wholesale and retail trade Financial intermediation and business services 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 Source: own calculations using Eurostat data. 61
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EU industrial structure 2011 Trends
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ENTERPRISE & INDUSTRY MAGAZINE The
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EU industrial structure 2011 — Tr
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