After two years of steady growth, the European materials handling production value increased more moderately by 1.5% at €62.4bn. Although exports dropped by 10%, domestic demand bounced by 15%.
For the third year in a raw, the European materials handling production value increased in 2016. It grew by 1.5% at €62.4bn, of which repair and maintenance represent 9.7bn (+5%). As in 2016, this overall growth was very much driven by a steady domestic demand. Indeed, whilst the latter increased by 15% at €36.7bn, exports dropped by 10% at €24.7bn. Meanwhile imports surged by 19% at €8.7bn.
Just like last year, European manufacturers benefited from the increase in the domestic demand. Indeed, the 19% increase of imports only translated in +1% in their share in domestic demand (24%). However, the combination of exports and imports figures resulted in a 22% drop of the trade balance. Still, it remains at a very good +€16bn level.
“Whereas the overall world results stagnated in 2016, we can be satisfied with the positive result of the European materials handling production value.”, said FEM Secretary General Olivier Janin. “The sustained growth of the domestic demand is excellent news, as it shows an investment cycle that benefits our manufacturers.”
FEM 2016 statistics are available in under General Publications