The EU's mechanical engineering field tests and evaluates major competitive economies and their competitiveness. The investigation period was from 2000 to 2010. The "2012 EU Mechanical Engineering Competitiveness Report" (hereinafter referred to as the "Report") analyzes changes in labor productivity and labor costs to determine the changes in cost competitiveness. In addition, a survey of public research policies related to mechanical engineering was conducted to establish an evaluation system for the innovative environment of different competing economies.
The United States, Japan, and China are the most important competitors in the EU27's mechanical engineering field. The report focuses on the competition industry, its evolution process, development trends, and trade conditions. The report compares the changes in the output and efficiency of competitors' mechanical engineering industries with the EU. In the comparison, the report converts the output value of the time series into a euro at a constant exchange rate of 2010 and compares them at a constant price in 2010.
In 2010, the total revenue of the mechanical engineering industry in the United States amounted to 221.6 billion euros, equivalent to 44% of the total revenue of the 27 countries in the European Union. There are 1.1 million employees, equivalent to 40% of the total number of employees in the EU mechanical engineering industry. However, the ratio of industrial added value in the United States to output value reached 65%, which indicates that its labor productivity is higher than that of the EU.
In the past 10 years, the growth of the mechanical engineering industry in the United States has been slow. Even during the period from 2000 to 2008 when global investment in machinery and equipment was growing, its average annual growth rate was less than 1.5%. The global economic crisis is even more exhausting its entire revenue. In 2010, calculated at constant prices, the US machinery engineering industry revenue increased by 17%, still lower than the 2000 level. In this context, EU mechanical engineering has experienced similar setbacks with the US mechanical engineering industry. However, since the higher growth rate has continued until 2008, the actual revenue growth in 2010 has reached the level of 2000.
Comparing growth and output in employment in the United States: In 2000, only 1.1 million of the 1.5 million employees were retained until 2010. For the 27 EU countries, the number of unemployed is as high as 400,000. However, the EU employs a large number of workers in the mechanical engineering industry, so the overall unemployment rate of the EU is only 14%, while the United States mechanical engineering industry's unemployment rate accounts for about 1/4 of the total employment.
In the international comparison of labor productivity, both the macroeconomic level and the level of various industrial sectors, the United States has shown a significantly higher level. In 2010, the labor productivity of American mechanical engineering was about 70% higher than that of the EU-27. If you compare the entire investigation period, the result is even more surprising. In 2010, labor productivity in the US mechanical engineering industry was 8.4% higher than in 2000, and the labor cost per employee only increased by 6.0%. Although the outbreak of the financial crisis has caused the wage growth of the U.S. machinery engineering industry to be affected, it has continued to show moderate growth in 2005 and the following years.
During the same period, EU labor productivity maintained its growth momentum. Although the 2010 financial crisis triggered a decline in labor productivity, labor productivity still exceeded 16.4% of the 2000 level. In this context, the increase in wages after 2005 did not decline even from 2008 to 2010. This situation has had a negative impact on the economic performance of EU companies. Compared with the United States, the unit labor cost (ULC) of the EU-27 after 2008 has soared, and the total return rate (GOR) has fallen more due to the lower capacity utilization rate. The negative impact of the economic crisis in the U.S. mechanical engineering industry is significantly less than that of the EU. This may be due to factors such as differences in employment patterns, different compensation contracts and a more difficult situation in the European labor market.
58% of U.S. mechanical engineering shipments are provided to domestic customers. Demand has shrunk during the survey period. From 2000 to 2010, the American manufacturer’s domestic market share fell to 33%. Despite the difficult market environment, foreign suppliers are still able to stabilize the mechanical sales in the US market. The United States has performed even better for the EU. In 2010, in the face of a shrinking US market, the EU mechanical engineering industry achieved a 13% increase. In 2005, the EU mechanical engineering industry achieved a growth of about 5%.
Exports of US mechanical engineering products to the European Union grew faster than those of the United States. However, the situation of the trade deficit of mechanical engineering products with the EU has not changed substantially. The long-term deficit trade situation is caused by the fact that both parties are at different levels of trade. The continuous expansion of the EU machinery market is one of the reasons for the continuous growth of the export of mechanical engineering products in the United States. But precisely because of this, in 2010, the EU machinery market demand shrank, leading to a 5% decline in U.S. manufacturer’s share of the EU’s exports.
From 2000 to 2010, the balance of global trade in the United States mechanical engineering industry was surplus. This is mainly due to the important role played by the United States in the export of North American free trade agreement member countries Canada and Mexico. The United States has historically occupied a large market share in Latin America. At the same time, Asia (especially China) has also become an important export market. The trade surplus between the United States and non-EU countries compensates for the U.S. trade deficit with the EU. In 2010, the balance of global trade of mechanical engineering products in the United States increased from approximately 5 billion euros to 13.8 billion euros.
Compared with the global total manufactured goods trade, the American mechanical engineering industry performed better than the average of all other traditional industries, although the balance of trade in the United States generally showed a deficit. In 2010, the U.S. trade deficit with the EU increased to 70 billion euros, and the global trade deficit increased to 566 billion euros. The comparative advantage of the US mechanical engineering industry can be confirmed by two trade indices: (1) The Balassa Index (BI) is positive, and shows an increasing trend during the survey period. This means that for the United States, exports of mechanical engineering products to total manufactured goods exports are higher than global exports of mechanical engineering products to global manufactured goods exports. (2) The Dominant Comparative Advantage Index (RCA) shows that the U.S. mechanical engineering trade balance is also in a dominant position compared to the U.S. total manufactured goods trade balance.
In terms of trade with the European Union, the situation is slightly different. The BI index has maintained a positive value and continues to grow. This shows that the concentration of US mechanical engineering products exported to the EU is even higher. This development is quite typical and it is also reflected in its global trade. Although the RCA index for global trade in mechanical engineering products is positive, the US mechanical engineering products are negative for the EU's RCA index. From 2000 to 2010, the scale of trade of American mechanical engineering products to the EU has dropped, but the trade deficit is also decreasing. This trend is mainly due to the EU's growing demand for mechanical engineering products.
The United States, Japan, and China are the most important competitors in the EU27's mechanical engineering field. The report focuses on the competition industry, its evolution process, development trends, and trade conditions. The report compares the changes in the output and efficiency of competitors' mechanical engineering industries with the EU. In the comparison, the report converts the output value of the time series into a euro at a constant exchange rate of 2010 and compares them at a constant price in 2010.
In 2010, the total revenue of the mechanical engineering industry in the United States amounted to 221.6 billion euros, equivalent to 44% of the total revenue of the 27 countries in the European Union. There are 1.1 million employees, equivalent to 40% of the total number of employees in the EU mechanical engineering industry. However, the ratio of industrial added value in the United States to output value reached 65%, which indicates that its labor productivity is higher than that of the EU.
In the past 10 years, the growth of the mechanical engineering industry in the United States has been slow. Even during the period from 2000 to 2008 when global investment in machinery and equipment was growing, its average annual growth rate was less than 1.5%. The global economic crisis is even more exhausting its entire revenue. In 2010, calculated at constant prices, the US machinery engineering industry revenue increased by 17%, still lower than the 2000 level. In this context, EU mechanical engineering has experienced similar setbacks with the US mechanical engineering industry. However, since the higher growth rate has continued until 2008, the actual revenue growth in 2010 has reached the level of 2000.
Comparing growth and output in employment in the United States: In 2000, only 1.1 million of the 1.5 million employees were retained until 2010. For the 27 EU countries, the number of unemployed is as high as 400,000. However, the EU employs a large number of workers in the mechanical engineering industry, so the overall unemployment rate of the EU is only 14%, while the United States mechanical engineering industry's unemployment rate accounts for about 1/4 of the total employment.
In the international comparison of labor productivity, both the macroeconomic level and the level of various industrial sectors, the United States has shown a significantly higher level. In 2010, the labor productivity of American mechanical engineering was about 70% higher than that of the EU-27. If you compare the entire investigation period, the result is even more surprising. In 2010, labor productivity in the US mechanical engineering industry was 8.4% higher than in 2000, and the labor cost per employee only increased by 6.0%. Although the outbreak of the financial crisis has caused the wage growth of the U.S. machinery engineering industry to be affected, it has continued to show moderate growth in 2005 and the following years.
During the same period, EU labor productivity maintained its growth momentum. Although the 2010 financial crisis triggered a decline in labor productivity, labor productivity still exceeded 16.4% of the 2000 level. In this context, the increase in wages after 2005 did not decline even from 2008 to 2010. This situation has had a negative impact on the economic performance of EU companies. Compared with the United States, the unit labor cost (ULC) of the EU-27 after 2008 has soared, and the total return rate (GOR) has fallen more due to the lower capacity utilization rate. The negative impact of the economic crisis in the U.S. mechanical engineering industry is significantly less than that of the EU. This may be due to factors such as differences in employment patterns, different compensation contracts and a more difficult situation in the European labor market.
58% of U.S. mechanical engineering shipments are provided to domestic customers. Demand has shrunk during the survey period. From 2000 to 2010, the American manufacturer’s domestic market share fell to 33%. Despite the difficult market environment, foreign suppliers are still able to stabilize the mechanical sales in the US market. The United States has performed even better for the EU. In 2010, in the face of a shrinking US market, the EU mechanical engineering industry achieved a 13% increase. In 2005, the EU mechanical engineering industry achieved a growth of about 5%.
Exports of US mechanical engineering products to the European Union grew faster than those of the United States. However, the situation of the trade deficit of mechanical engineering products with the EU has not changed substantially. The long-term deficit trade situation is caused by the fact that both parties are at different levels of trade. The continuous expansion of the EU machinery market is one of the reasons for the continuous growth of the export of mechanical engineering products in the United States. But precisely because of this, in 2010, the EU machinery market demand shrank, leading to a 5% decline in U.S. manufacturer’s share of the EU’s exports.
From 2000 to 2010, the balance of global trade in the United States mechanical engineering industry was surplus. This is mainly due to the important role played by the United States in the export of North American free trade agreement member countries Canada and Mexico. The United States has historically occupied a large market share in Latin America. At the same time, Asia (especially China) has also become an important export market. The trade surplus between the United States and non-EU countries compensates for the U.S. trade deficit with the EU. In 2010, the balance of global trade of mechanical engineering products in the United States increased from approximately 5 billion euros to 13.8 billion euros.
Compared with the global total manufactured goods trade, the American mechanical engineering industry performed better than the average of all other traditional industries, although the balance of trade in the United States generally showed a deficit. In 2010, the U.S. trade deficit with the EU increased to 70 billion euros, and the global trade deficit increased to 566 billion euros. The comparative advantage of the US mechanical engineering industry can be confirmed by two trade indices: (1) The Balassa Index (BI) is positive, and shows an increasing trend during the survey period. This means that for the United States, exports of mechanical engineering products to total manufactured goods exports are higher than global exports of mechanical engineering products to global manufactured goods exports. (2) The Dominant Comparative Advantage Index (RCA) shows that the U.S. mechanical engineering trade balance is also in a dominant position compared to the U.S. total manufactured goods trade balance.
In terms of trade with the European Union, the situation is slightly different. The BI index has maintained a positive value and continues to grow. This shows that the concentration of US mechanical engineering products exported to the EU is even higher. This development is quite typical and it is also reflected in its global trade. Although the RCA index for global trade in mechanical engineering products is positive, the US mechanical engineering products are negative for the EU's RCA index. From 2000 to 2010, the scale of trade of American mechanical engineering products to the EU has dropped, but the trade deficit is also decreasing. This trend is mainly due to the EU's growing demand for mechanical engineering products.
Inverter Air Plasma Cutter,Mini Air Plasma Cutting Machine,Air Plasma Cutting Machine,New Air Plasma Cutting Machine
Zhengzhou Yueda Technology Equipment Co., Ltd. , https://www.yuedawelding.com