These figures show annual nominal labour productivity in euros. They allow the Basque Country to be compared with the EU27 countries. The trend in productivity between 2000 and 2022 in the Basque Country and nominal productivity across the EU27 is one of growth, though with some fluctuations; in particular, the effects of the 2008 crisis and the 2020 COVID-19 pandemic.
In 2023 productivity in the Basque Country was close to the EU27 average (€75,682 and €74,400 respectively). Some EU27 regions have higher or lower productivity; Belgium, Denmark and Luxembourg are comfortably above the EU27 average, while some regions of Bulgaria and Romania are significantly below the average.
Real productivity per hour of work is an indicator used to assess the productivity of workers in an economy and is important in understanding the strength and competitiveness of a country or region’s economy. To study real productivity per hour of work in the Basque Country and the EU27, the record from 2015 was taken as a point of reference and increases or decreases assessed in percentage points in relation to this point. Analysis of the Basque Country and the 27 states in the European Union (EU27) between 2000 and 2022 shows how productivity has developed and what the comparative situation is.
In the Basque Country, real productivity per hour worked stood in 2000 at 81.4 points but by 2022 had reached 105.0 points. Thus, a notable increase of 29.3% can be observed over this period. On the other hand, average productivity across the EU27 rose from 84.4 to 106.4 points, an increase of 25.9%. This shows there has also been solid progress at European level. However, the Basque Country experienced a slightly faster increase, and in 2022 the index points to productivity in the Basque Country approaching the European average.
Figures from 2022 make it clear that the Basque Country is in a good position in European terms. Among European regions, some stood out for their progress in productivity. For example, Belgium has very high productivity, with a positive trend, and some regions of Bulgaria have achieved high productivity rates, with very good results in 2022 (between 115 and 120). Some German regions, especially in the east, also have higher productivity per hour, showing a significant improvement.
On the other hand, there are regions that have evolved poorly; Greece and Spain stand out here. Most Greek regions have low productivity, with slower progress (below 100). There are also Spanish regions that are below average and need to improve their productivity.