Overall, European industries - services and manufacturing sectors - hold to their positions on the global market better than their US or Japanese counterparts. Less positive has been their internal performance, with a rather low growth of value added, labour and total factor productivity in the period since 1995.
Job losses have been widespread in manufacturing. These are often associated with solid productivity growth, which has sustained the growth in value added of the sector. Sectors which witnessed a decline in both employment and in value added are the production of leather & footwear, clothing, textiles, nuclear fuel and tobacco, as well as the mining industry.
Conversely, apart from water transport (shipping), all the industries with the highest rates of value added growth – communication equipment, office machinery and computers – relate to ICT. Investment in ICT brings high returns in terms of productivity when accompanied by appropriate organisational changes and investment in skills.
The biggest productivity gap compared to the American industry can be found in the manufacturing of office machinery and computers, wholesale and retail trade, air transport, and the financial services.
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
