The 2023 performance of European Exports of Machinery

Although slowing down in the second half of the year, all the main sectors - with the exception of textile machinery - showed average annual growth in euro values

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Europe Industrial equipment Conjuncture Export Global economic trends

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Pre-estimates for the 4th quarter of 2023 of foreign trade of EU countries, available in the ExportPlanning Information System, allow you to document the pre-final balance sheet results of the year for the exports of EU companies.
As highlighted in the article "EU exports 2023 by industries", one of the most dynamic industries in 2023 in terms of EU exports was that of machinery1.

EU exports of industrial machinery and plants saw a significant growth trend in the first half of 2023 in euro values (+14.5%), also benefiting from the dynamics of producer prices (+7% year-over-year in the first half of the year, according to Eurostat statistics available in the PricePedia Information System2).
In the second half of 2023, also in the face of a deceleration in EU machinery production prices (+4.4% y-o-y in the second half of the year), the dynamics of EU exports of instrumental mechanics progressively slowed down (+9.4% y-o-y in the third quarter, +6% in the fourth quarter [pre-estimates]), but remaining largely in positive territory in euro values.

A preliminary final balance of the year, a growth in EU exports of machinery is estimated at double digit percentages in euro values (+10.7%), being among the most dynamic industries on average in 2023 (after the automotive supply chain3).

Despite the slowdown in the second half of the year,
2023 recorded double-digit % growth for most sectors

The table below documents the performance of the various sectors that make up the machinery industry.
As can be seen, despite an almost general slowdown that occurred in the second part of the year, 2023 highlighted double-digit percentage growth in EU exports for most sectors.

EU Exports of Machinery:
2023 values (pre-estimates) and Year-over-Year % changes in euros

Bn € Y-o-Y % changes in euro
2023E 2022 H1-2023 Q3-2023 Q4-2023E 2023E
Semiconductor mach. 21.5 +20.5 +10.2 +22.4 +12.7 +14.0
Food machinery 17.6 + 2.2 +16.2 + 8.9 + 1.8 +10.1
Machine tools for metals 16.7 +10.2 +21.6 + 6.2 + 8.1 +13.7
Packaging machines 13.3 - 1.7 +14.2 +14.5 +14.7 +14.4
Extrusion machinery 8.9 +11.9 +19.1 + 7.3 + 0.8 +10.7
Textile machinery 7.4 +11.2 - 3.2 -10.7 - 8.3 - 6.4
Tools for hard materials 7.1 +10.0 + 7.2 - 3.1 - 0.4 + 2.5
Paper-making machines 4.7 + 6.7 +25.4 - 1.6 - 1.0 + 9.7
M. for metal processing 4.7 + 8.0 +23.3 +17.6 +11.7 +18.4
Printing machines 3.3 +10.2 +10.0 +19.6 + 3.4 +10.3
Other machinery 27.3 +10.8 +16.5 + 9.1 + 6.5 +11.8
TOTAL 132.5 + 9.3 +14.5 + 9.4 + 6.0 +10.7
Source: ExportPlanning - Data - Quarterly Trade Data, EU Trade Datamart

Semiconductor machines, machine tools, packaging machines and metal machines the most dynamic sectors for EU 2023 exports of machinery

In the 2023 EU export calculation (pre-final figures), metal machinery4 (+18.4 % in euro values compared to 2022), packaging machines5 (+14.4%), semiconductor machines6 (+14%) and machine tools for metals7 (+13.7%) are the most dynamic sectors within the instrumental mechanics industry.

Double-digit average annual growth also characterized the exports of extrusion machinery8 (+10.7% in euro values compared to 2022), printing machines9 (+10.3 %), food machines10 (+10.1%) and other machinery11 (+11.8%).

Textile machinery and machine tools for hard materials are, however, the sectors of instrumental mechanics
slowing down the most in EU exports 2023

In the calculation of EU exports of machinery and plants last year, we note the deteriorating performance for machine tools for hard materials12 (+2.5% compared to the 2022 average) and, above all, textile machinery13 (-6.4%).

Specifically, EU exports of textile machinery, after +11.2% of the 2022 average, showed a downward trend already in the first half of last year (-3.2%), which it is accentuated in the second part of the year (-10.7% in the third quarter, -8.3% in the fourth quarter [pre-estimates]).
In the case of machine tools for hard materials (wood, glass, plastic), after a still positive first half of last year (+7.2% y-o-y in euros), the deterioration in the growth of EU exports is occurred in the two most recent quarters, however leading - at the end of 2023 - to an overall result of an average annual increase.

Conclusions

Despite a context of general worsening in the most recent period, European manufacturers of machinery were able to highlight a record of general growth in export values in almost all sectors at the end of 2023.

However, the deterioration in growth also highlighted in the most recent quarter suggests that exporting companies constantly monitor the situation of the markets of interest for their business area.

Thanks to the series of new services, named Market Insights, ExportPlanning can support the market monitoring of exporting companies, providing updated information in real time on the evolution of the markets of interest for a specific business area.

1) For a list of the sectors included in this industry, please refer to the relevant industry profile.
2) This processing is based on the producer prices of the following aggregates (NACE codes):
  • 28.41: Manufacture of metal forming machinery;
  • 28.49: Manufacture of other machine tools;
  • 28.91: Manufacture of machinery for metallurgy;
  • 28.92: Manufacture of machinery for mining, quarrying and construction;
  • 28.93: Manufacture of machinery for food, beverage and tobacco processing;
  • 28.94: Manufacture of machinery for textile, apparel and leather production;
  • 28.95: Manufacture of machinery for paper and paperboard production;
  • 28.99: Manufacture of other special-purpose machinery n.e.c.
3) Please refer again to the article "EU exports 2023 by industries".
4) For a list of products included in this sector, please refer to the relevant sector profile.
5) For a list of products included in this sector, please refer to the relevant sector profile.
6) For a list of products included in this sector, please refer to the relevant sector profile.
7) For a list of products included in this sector, please refer to the relevant sector profile.
8) For a list of products included in this sector, please refer to the relevant sector profile.
9) For a list of products included in this sector, please refer to the relevant sector profile.
10) For a list of products included in this sector, please refer to the relevant sector profile.
11) For a list of products included in this sector, please refer to the relevant sector profile.
12) For a list of products included in this sector, please refer to the relevant sector profile.
13) For a list of products included in this sector, please refer to the relevant sector profile.