Economics & Statistics Report - 2015
1 June 2015
Orgalime's economists compile and analyse their latest data and forecasts for the engineering industry twice a year. We analyse first and foremost the economic trends for metal products, mechanical engineering, electrical engineering, electronics and ICT and instruments - mainly chapters 25 to 28 of the NACE rev.2 business nomenclature as well as chapter 33 (installation and repair services) where reported by the industry.
Based on official data available, we estimate that the engineering industry's total turnover value in the European Union reached more than €1800 billion in2014. The number of employees stood at more than 10.3 million people of which 1.25 million working in installation and repair services. The engineering industry counts for over a quarter of the turnover and a third of the exports of the EU manufacturing industries.