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The impact of the European steel industry on the EU economy
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Oxford Economics and EUROFER have just released the Impact of the European Steel Industry on the EU Economy: An updated and extended analysis study. Commissioned by EUROFER, the study broadens and updates the analysis first conducted for the Association in 2017 and published in 2018. The study finds new figures for total employment, now 2.6 million direct, indirect and induced jobs for the sector. The steel industry’s Gross Value Added is now €148 billion overall, with a new tax revenue impact of €60 billion. The tax assessment is an addition to this report over the previous edition. The jobs multiple for the sector is nearly 8x, going down into customer sectors that are also analysed in this report for the first time.
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Brussels, 22 October - Ahead of the European Council meeting on 23 October, Europe’s steel and automotive industries — two strategic pillars of the EU economy — are issuing a joint call for a realistic and pragmatic pathway to transformation and keeping investments in Europe. Together, these sectors form the backbone of Europe’s industrial strength, supporting over 13 million jobs in automotive and 2.5 million in steel (directly and indirectly), and driving innovation across entire value chains.
Joint Statement
Strasbourg, 07 October 2025 – The new trade measure presented today by the European Commission is a long-awaited proposal to forcefully defend the European steel sector, in full respect of WTO rules, from unfair imports flooding the EU market due to massive global overcapacity. The provisions unveiled by the Commission respond to the needs of the sector and represent a real lifeline for EU steelmakers and steelworkers. The European Parliament and the Council should therefore adopt it as a matter of urgency to enable its entry into force at the beginning of 2026, says the European Steel Association (EUROFER).
The European Steel Association (EUROFER)
172 Avenue de Cortenbergh
1000 Brussels
Belgium
Email: mail@eurofer.eu
Phone: +32 (0) 2 738 79 20
