The turnover of the CAV industry grew by 27% in 2022 and the added value by more than 15%

The sales of industry in the Basque Autonomous Community increased by 27% in 2022 compared to the previous year, to 74,642 million euros, and value added increased by 15.2% to 16,650 million euros. Moreover, investments rose by 39.8%, exceeding 2.5 billion for the first time since 2009, according to data released by Eustat last Wednesday.

He sales volume the total exceeded the EUR 74 billion mark for the first time, namely EUR 74,642 million at current prices in 2022, becoming the highest in the known historical series.

For its part, the Gross added value at factor costs it amounted to 16.65 billion euros, 15.2% higher than in 2021, the second highest in history after 2008. This indicator measures the economic value of the total production of goods and services, with resources that were necessary for production are not taken into account. their production, subsidies and indirect taxes.

As highlighted by Eustat, this ‘strength’ of the Basque industry is projected in all economic indicators in 2022. Starting with employment, the number of people working in industry in Euskadi increased by 1.4%. The total of people in paid employment This brings the number to 204,774, which amounts to 2,824 more people, who worked a total of 2.5% more hours than in 2021. personal expenses rose by 6.6%.

In 2022, the Basque industrial sector registered one labor productivity apparently -the performance of a work unit applied to the production process – of 81,308 euros per employed person, 13.6% higher than in 2021, which comfortably exceeds the limit of 80,000 euros per person for the first time.

The personnel costs per person They amounted to 47,911 euros, 5.1% higher than the year before. If both indicators are combined, we obtain the wage-adjusted labor productivity ratio, which shows how much added value is obtained per employed person, taking into account the average costs. The value for 2022 is 169.7%, or, in terms of added value, 1,697 times the value of the costs obtained per employed person. This indicator increased by 8% in 2022 compared to 2021 investment2,520 million euros, 39.8% higher than that of 2021, it recovers strongly from the weakness observed in 2020, the year of the Covid-19 pandemic, where a negative rate of 13.5% was achieved. 1.2%, making 2022 the year with the most economically powerful investments since 2009.

Territorial analysis

Sales volume has increased significantly in the three areas, but it is in Bizkaia where this is most noticeable, as highlighted by Eustat. In this way, of the 15,884 million euros most billed in 2022 in the Basque Autonomous Community as a whole, Bizkaia absorbed 9,827 million euros, or 61.9%, due to a 38.1% increase in turnover. In Álava, growth is also accelerating by 23.5%, while in Gipuzkoa the increase, still significant, is relatively limited to 14.8%.

In terms of industrial employment, Bizkaia saw the largest increase in employment (2.1%), while Álava and Gipuzkoa saw a staggered increase of 1.4% and 0.7% respectively. These results are converted into the gross added value generated by the industry in each area. This size in 2022 was therefore 26.9% higher than that of 2021 in Bizkaia, 10.9% in Álava and 6% in Gipuzkoa. Measured per employed person, the apparent labor productivity, it is obtained that Bizkaia and Gipuzkoa are the extreme areas: in the first the productivity gain was 24.3%, while in the second it was 5.3%, and Álava saw its average productivity increase by 9 .3% increase, contrary to what happens in the rest of the indicators, the area where costs per employee reflected the smallest adjustment, namely an increase of 4.6%, compared to 5.1% in Álava and 5.7 % in Gipuzkoa. For example, the average cost per person in Bizkaia was the lowest of the three areas, 46,804 euros, while in Álava it was 48,543 euros and in Gipuzkoa 48,678 euros. With these data, the labor productivity coefficient, adjusted with salaries, turned out to be the same 152.7% of average costs in Gipuzkoa, while in Álava it was 167.9% and in Bizkaia it was 188.5%.

Sectoral analysisThe most important sectors in Euskadi in terms of value added were, in 2022, the manufacture of metal products, excluding machinery and equipment, metallurgy; Manufacture of iron, steel and ferroalloy products and Manufacture of machinery and equipment nec

The Metal Products Manufacturing sector alone accounts for 19.4% of the total added value of the Basque industry and between the three countries mentioned they reach almost 40% of the total (39.7%).

Eustat has indicated that these three sectors represent percentages of the total added value of the industry, depending on the group of people they employ. For example, the manufacture of metal products represented a percentage of 24.8% of total employment, the manufacture of machinery and equipment 11.3% and the metal industry 8%.

Coincidentally, this last subsector, Metallurgy, together with the production of metal products, were two of the largest contributors to the sector’s excellent performance in this indicator, as they recorded increases of 11% and 10.5% respectively with regard to 2021. However, Eustat has indicated in this paragraph that the Coking Plants and Oil Refining and Supply of Electrical Energy, Gas, Steam and Air Conditioning sectors are the major creators of the increase in added value, even though they only occupy 0.5% and 1% respectively .2% of employees in the Basque industry. From a revenue perspective, and with an average growth of 27%, they topped the rankings for new coking plants, petroleum refining and electricity, with an increase of 92.1%. and 38.8%. The turnover of key subsectors, reflecting their weight in the Basque industry, such as the steel industry (29.8%) and the automotive industry (18.9%), among others, also improved “significantly”, in an overall context of turnover growth on the contrary, the textile industry, clothing production, the leather and shoe industry (31,725 ​​euros per person) and the graphic arts and reproduction sector stand out for their very low apparent labor productivity (40,683 euros).

With a similar behavior are the average personnel costs per person, with a range reaching from 22,900 euros per person in the textile, clothing manufacturing, leather and shoe industries to 108,963 euros per employee in the coking plants and oil refining sectors.