Transport – the backbone of our economy and society
The transport sector is:
- One of the largest economic sectors in Europe. It accounts for 4.6 % of Gross Domestic Product (GDP). Manufacturing transport equipment accounts for an additional 1.7 % GDP.
- One of the biggest employers in the EU. More than 10 million people, 4.5 % of total employment, work in transport. Manufacturing of transport equipment adds another 1.5% to this figure.
- The biggest investor in research and innovation in Europe. The transport industry invests €47 billion a year into research and innovation.
People's livelihoods, social activities, the economy, competitiveness of industry, and the free circulation of goods, people, and services within the EU all rely heavily on transport.