Olivier Janin

After two years of decrease, the value of European materials handling production increased by 5.5% to EUR58.8 billion (USD64.97 billion).

Exports, however, fell by nearly 5%, although the trade balance remains largely positive at EUR17 billion (USD18.8 billion).

According to the latest statistics from manufacturing peak body FEM, the value of European materials handling production was boosted by vigorous domestic demand, which rose 11% to EUR32.2 billion (USD35.6 billion). There was also a rise in repair and maintenance revenues which increased 18% to EUR9.7 billion (USD10.7 billion).

Net production value increased by 3% to EUR49.1 billion (USD54.2 billion). This general increase comes on the back of two years of decreases, returning production value to its 2005 level.

Exports recorded a 4.8% drop to EUR21.8 billion (USD24.1 billion), although they grew by 12% with the main trade partner, the U.S. Exports saw their share in production value fall to 44.4% (down from 48.6% the year before).

Imports practically stagnated (up 2% to EUR5 billion/USD5.52 billion) and maintained their share in domestic demand (15.5%).

"The rebound of the domestic demand is very good news, though it remains at two-thirds of its peak level of 2007," says FEM secretary general Olivier Janin.

"Let us hope it is confirmed in 2015, together with the increase in production value, so that we can at last record two consecutive years of growth since the 2008 crisis."

FEM compiles annual statistical data on the production value and external trade of European materials handling, lifting and storage equipment, based on Eurostat data, as well as estimates from FEM and VDMA for equipment not covered by Eurostat.