Statistics in Focus. European industrial production 2003 to 2007 – on the increase.
European industrial production has increased considerably between 2003 and 2007. A small number of product groups and a small number of Member States account for a large share of sold production in the EU. This ‘Statistics in Focus’ is the first dedicated to this statistical domain. It presents production and its rate of change by product group, concentrating on the top groups, and also the contribution of Member States to it. In 2007 the sold industrial production of EU27 covered by Prodcom amounted to 4,315 billion euros. Concentrating on the goods which were produced every year between 2003 and 2007, the value of sold production rose by almost 18% in constant 2000 prices during that period. As shown in Figure 1, a small increase in 2004 of 1.6% was offset by a decrease in 2005 of 2.0%. The combined effect was that the value of production sold in 2005 was slightly smaller than that of 2003. In the two years that followed, the value of sold production rose rapidly, by 10.5% in 2006 and 7.0% in 2007.