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

The turnover of the industry in the Basque Autonomous Community in 2022 rose 27% compared to the previous year, up to 74,642 million euros, and its added value increased by 15.2%, reaching 16,650 million. In addition, investment increased by 39.8%, exceeding 2.5 billion for the first time since 2009, according to data released this Wednesday by Eustat.

He revenue volume total exceeded the limit of 74 billion euros for the first time, specifically 74,642 million euros at current prices in 2022, thus becoming the highest in the known historical series.

For his part, the Gross value added at factor cost, it reached 16.65 billion euros, 15.2% higher than that obtained in 2021, the second highest in history after 2008. This indicator measures the economic value of the total production of goods and services, discounting the resources that have been necessary for their production, subsidies and indirect taxes.

As highlighted by Eustat, this “strength” of the Basque industry in 2022 has been projected in all economic indicators. Starting with employment, the number of people employed in the industry in Euskadi has increased by 1.4%. The total of employed people It thus stands at 204,774, which represents 2,824 more people, who, as a whole, worked 2.5% more hours than in 2021. In turn, the personal expenses increased by 6.6%.

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

The personnel costs per person They were 47,911 euros, 5.1% higher than the previous year. If both indicators are combined, we obtain the wage-adjusted labor productivity ratio, which represents how much added value is obtained per employed person considering average costs. Its value for 2022 is 169.7%, or in other words, in terms of added value, 1,697 times the value of the costs per person employed was obtained. This indicator has increased by 8% in 2022 compared to 2021. Similarly, the 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 obtained. and the slight recovery shown in 2021, 1.2%, making 2022 the year with the most economically powerful investment since 2009.

Territorial analysis

The amount of turnover has increased considerably in the three territories, but it is in Bizkaia where it has been most noticeable, as highlighted by Eustat. In this way, of the 15,884 million euros most invoiced in 2022 in the Basque Autonomous Community as a whole, Bizkaia absorbed 9,827 million, 61.9%, as a result of its turnover skyrocketing by 38.1%. . In Álava, it also accelerates by 23.5%, while the increase in Gipuzkoa, still considerable, is comparatively limited to 14.8%.

Regarding industrial employment, in Bizkaia there was the greatest increase in employment (2.1%), while in Álava and Gipuzkoa there were staggered increases of 1.4% and 0.7%, respectively. These results are transferred to the gross added value generated by the industry in each territory. Thus, this magnitude in 2022 was 26.9% higher than that of 2021 in Bizkaia, 10.9% in Álava and 6% in Gipuzkoa. Measured per person employed, the apparent labor productivity, it is obtained that Bizkaia and Gipuzkoa They are the extreme territories: in the first the productivity gain was 24.3%, while in the second it was 5.3%, and Álava, between both, saw its average productivity increase by 9.3%. %. In contrast to what happens in the rest of the indicators, Bizkaia was the territory in which the costs per person employed reflected the smallest adjustment, increasing by 4.6%, compared to 5.1% in Álava and 5.7% in Álava. % of Gipuzkoa. Thus, the average cost per person in Bizkaia was the lowest of the three territories, 46,804 euros, while in Álava it stood at 48,543 euros and in Gipuzkoa at 48,678 euros. With these data, the labor productivity coefficient adjusted by salaries turned out to be 152.7% of the average costs in Gipuzkoa, when in Álava it reached 167.9% and in Bizkaia 188.5%.

Sectorial analysisThe main sectors in Euskadi in terms of added value were, in 2022, the Manufacture of metal products, except machinery and equipment, Metallurgy; Manufacture of iron, steel and ferroalloy products and Manufacture of machinery and equipment nec

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

Eustat has indicated that these three sectors present percentages of the total added value of the industry in accordance with the group of people they employed in it. Thus, the Manufacture of metal products presented a percentage of 24.8% of the total jobs, the Manufacture of machinery and equipment 11.3% and Metallurgy 8%.

It so happens that this last subsector, Metallurgy, together with the Manufacturing of metal products, were two of the great contributors to the excellent performance of the industry in this indicator, since they recorded increases of 11% and 10.5%. , respectively, in relation to 2021. However, Eustat has indicated, in this section, that the sectors of Coke plants and oil refining and Supply of electrical energy, gas, steam and air conditioning are the great creators of the increase in added value , although they only occupied 0.5% and 1.2%, respectively, of people employed in the Basque industry. From the perspective of turnover, and for an average growth of 27%, they topped the ranking new Coke plants and petroleum refining and Electric power, with increases of 92.1% and 38.8%. The sales of important subsectors due to their weight in the Basque industry, such as Steel, 29.8%, or Motor Vehicle Manufacturing, 18.9%, among others, also progressed “considerably”, within a general context of increased sales. turnover. On the contrary, the textile industry, clothing manufacturing, leather and footwear industry (31,725 ​​euros per person) and the graphic arts and reproduction sector stand out for their very low apparent labor productivity. engraved supports (40,683 euros).

With a similar behavior are the average personnel costs per person, with a range that covers from 22,900 euros per person in the textile industry, clothing manufacturing, leather and footwear industry to 108,963 euros per employed person. for the coking and oil refining sector.