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Overview
In 2021, the value of sold production in the European Union amounted to EUR 5 209 billion, an increase by almost 14 % compared with EUR 4 581 billion in 2020 (current prices).
Figure 1 presents the evolution of EU's value of sold production from 2011 to 2021. In the period from 2011 to 2014, the value generated by EU production remained quite stable. From 2014 until 2018, it shows a constant annual increase comparing to the previous year. The results of 2019 show the consolidation of the growth in production with a value of sold production in the European Union that amounted to EUR 4 945 billion. The outbreak of the COVID-19 virus and consequent containment measures widely introduced by Member States had a significant impact on the EU’s industrial production in 2020. The value of sold production in the European Union in 2020 decreased by 7 % comparing to 2019. The EU’s industrial production in 2021 recovered and it increased by 8 % comparing to 2020.
The recent increase was recorded in almost all industrial activities with the highest peak in the manufacturing of basic metals and fabricated metal products, followed by the manufacturing of chemical products, the manufacturing of rubber and plastic products and other non-metallic mineral products.
The newly available production under sub-contracted operations within the economic territory of the European Union Member States amounts to 3% of the production value and 9% of the production volume.
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Source: Eurostat DS_066341