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Diario PYME

Basque Industrial Sector's Turnover Decreased by 1% in 2024

According to Eustat data, the extractive and manufacturing subsector recorded 62,443 million euros, although employment grew by 0.6%.

Generic image representing economic data of the industrial sector.
IA

Generic image representing economic data of the industrial sector.

The industrial and manufacturing sector in Euskadi saw a 1% decrease in its turnover during 2024, according to Eustat data, despite a 0.6% growth in employment.

The industrial sector in Euskadi, particularly in the extractive and manufacturing areas, experienced a significant stagnation in 2024. The turnover for this subsector fell by 1% compared to the previous year, reaching 62,443 million euros. This decline appears to reflect a generalized trend of slowdown across Europe.
However, positive data was observed regarding employment. The sector registered a 0.6% growth in the year-on-year rate, employing 199,888 people. Furthermore, the gross value added at factor cost increased by 1% compared to the previous year, standing at 15,946 million euros. Apparent labor productivity also saw an increase, reaching 79,776 euros per employed person in Euskadi, a 0.4% improvement over 2023 figures.
According to data released today by Eustat, the regions with the highest gross value added in the industrial sector in 2024 were Gran Bilbao, Llanada Alavesa, and Donostialdea. Conversely, Montaña Alavesa, Estribaciones del Gorbea, and Plentzia-Mungia experienced the most significant growth.
Regarding turnover, it decreased in Araba (-5.2%) and Bizkaia (-0.2%), where activity is concentrated in large companies. In Gipuzkoa, with a more diversified business fabric, the figure increased by 1.2%. Employment grew in 13 of the 20 Basque regions, led by Estribaciones del Gorbea with a 5.5% increase, followed by Gernika-Bermeo (3.9%) and Arratia-Nervión (3.6%). The highest labor productivity per employed person in industry was recorded in Estribaciones del Gorbea (95,373 euros), Goierri (90,152 euros), and Rioja Alavesa (86,795 euros).
By historical territories, Araba registered a 1.1% decrease in gross value added in 2024, reaching 3,397 million euros. Llanada Alavesa was the region with the highest participation (2,122 million euros). In Bizkaia, the value added of the extractive and manufacturing industry remained stable at 6,094 million euros, with Gran Bilbao absorbing 57.3% of the total. Finally, Gipuzkoa saw a 3.2% increase in its value added compared to 2023, reaching 6,455 million euros, with Bajo Deba and Goierri leading the growth.

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