Industrial production in the EU grew by an average of 0.6% between 2000 and 2024

The volume of mining activity has halved over the last two and a half decades

Industrial production in the European Union grew by an average of 0.6% per year between 2000 and 2024, according to Eurostat data.

At the country level, the highest average growth rates during this period were observed in Ireland (5.6%) and Poland (4.9%), while the lowest rates were recorded in Italy (-1.1%) and Portugal (-0.9%).

During the early 2000s, the average growth rate of industrial production in the EU was 2%. At the same time, many countries showed higher rates. Double-digit declines were quite common during the financial crisis of 2007 and 2008.

Industrial growth, Eurostat notes, accelerated again in the period 2010-2019, but its overall rate was only about half of the pre-crisis level.

In 2020, industrial production in the bloc fell sharply by 7.4% year-on-year due to the outbreak of the Covid-19 pandemic, and in 2021-2024 there was an annual decline of 0.4%.

The mining industry index between January 2000 and spring 2005 fell by more than 50 points overall, meaning that the volume of this activity has halved over the last two and a half decades.

It should be noted that in May 2025, industrial production adjusted for seasonal changes increased by 1.5% compared to the previous month. In the eurozone, the indicator increased by 1.7% month-on-month. Compared to May 2024, the indicator in the eurozone rose by 3.7%, and in the EU by 3.4%.