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A stronger European Industry for Growth and Economic Recovery

Press conference 10 October 2012

Goal
Currently industry accounts for around 16% of EU GDP.
We need to reverse the declining trend started in mid-90s Goal: Industry approach 20% of GDP by 2020

The recovery has stalled


EU27 production trend

Manufacturing accounts for 15.5% of Europe's GDP


Manufacturing in Member State economies (as % of GDP; 2011)

EU 15.5%

Industry: an opportunity for growth


Industry remains a key driver of research, innovation, productivity, job creation and exports. 80% of innovation is made by Industry. For each new job in the manifacturing sector there is a new one also in services. 75% of EU export comes from industry. Thats way we need to revese the industrial decline.

Pillars of the reinforced industrial policy


Investments in innovation with a focus on six priority areas Better market conditions improvements in the functioning of the Internal Market and opening up international markets Access to capital mobilising public resources and unlocking private funds Human capital and skills equipping labour force for industrial transformations

Six priority areas for investment


Advanced manufacturing technologies Key Enabling Technologies Bio-based products Clean vehicles and vessels Sustainable construction and raw materials Smart grids

How to achieve our objectives


A strategic partnership between the EU, the Member States and industry The new cohesion policy instruments for 20142020 will help Member States to increase their competitiveness through smart specialisation European Semester and Country-Specific Recommendations to Member States Ultimately, it is about industry playing its role and investing in innovation, in conquering new markets and in skills

Country groups
Consistent performers
AT, BE, DE, DK, FI, FR, IE, NL, SE, UK

Uneven performers
CY, EE, EL, ES, IT, LU, MT, PT, SI

Catching-up group
BG, CZ, HU, LT, LV, PL, RO, SK

Groups based on cluster analysis


Reveals similar behaviour along the indicators Not a ranking Some countries behave in a very similar fashion Others are more idiosyncratic But the three groups demonstrate quite strong similarities.

Labour productivity in manufacturing

Source: Eurostat (except for LU STATEC); expressed as gross value added, in 1 000 PPS/employee, 2011. LU, IE, EU average are for 2010; data for BG, RO and the UK are not available.

Business environment
Components of business environment: - Starting a business -Dealing with construction permits -Registering property -Obtaining credit -Protecting investors -Enforcing contracts -Resolving insolvency

Values normalised to between 1 for the best performance over 2006-2011 and zero for the worst performance. Source: World Bank Doing Business

Price of electricity
Electricity prices for medium-sized enterprises, 2011

Eurostat, data refer to prices in the second half-year; including tax, except VAT; expressed in euro/KWh. No data for AT.