After two successive increases (+8.5% in 2021 compared to 2020 and +0.4% in 2022 compared to 2021), according to Eurostat, the production of manufacturing goods in the European Union recorded a decrease of 1, 2% in 2023 compared to 2022. After a slight decline in 2013 and 2014, EU production increased gradually until 2018. In 2019, the value of production sold saw a small decline, before falling more sharply in 2020 due to the effects of the pandemic.

The outbreak of Covid-19 and related containment measures widely introduced by EU countries had a significant impact on EU industrial production in 2020, but 2021 and 2022 showed increases in production across all activity groups industrial. In nominal terms, the value of EU production sold rose from €5,895 billion in 2022 to €5,992 billion in 2023, marking an increase of 1.6%.

Looking at the top seven groups of manufacturing activities, the largest jump in the value of output sold was recorded in the production of motor vehicles and other means of transport, with a 20% increase in the value of output (at current prices) from 776 billion euros in 2022 to 934 billion euros in 2023. This group was followed by the production of machinery and equipment (from 556 billion euros in 2022 to 600 billion euros in 2023), with an 8% increase in value of production sold, and from the production of food, drinks and tobacco (from 1,006 billion euros to 1,056 billion euros), with a growth of 5%.

On the other hand, the highest decrease in the value of production sold was recorded in the manufacturing of chemical products (from 542 to 461 billion euros), with a decline of 15%, followed by the manufacturing of base metals and metal products processed (from 888 to 816 billion euros) with 8% and from the manufacture of rubber, plastic and other non-metallic mineral products (from 495 to 467 billion euros) with 6%.