The EU’s value of sold production at constant prices declined for the second consecutive year in 2024, falling by 2.0% compared with 2023, following a 1.4% decrease in 2023 (compared with 2022). This comes after 2 successive increases in 2021 (+8.5% compared with 2020) and 2022 (+0.3% compared with 2021).
The EU’s production increased gradually every year in the period 2014-2018. In 2019, the value of sold production registered a small decrease, then dropped sharply in 2020 due to the pandemic's effects. The outbreak of COVID-19 and related containment measures widely introduced by EU countries had a significant impact on the EU’s industrial production in 2020, however, 2021 and 2022 showed increases in production in all the industrial activity groups. Since then, the industrial production in the EU has been slowly decreasing. (....)