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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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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).
Brussels, 01/10/2025
With Europe’s steel industry at breaking point, industriAll Europe and the European Steel Association (EUROFER) held an emergency steel social summit to demand urgent action. Ahead of the announced Commission proposal addressing the impact of global steel excess capacity on the EU steel market, due by mid-October, the European social partners are united in calling for robust and effective trade measures. They also insist on fast and urgent implementation of the EU Steel and Metals Action Plan, especially concerning energy prices and demand. Maintaining the level of political ambition as promised in the EU Steel and Metals Action Plan is essential to restore steel’s competitiveness and save its green transition as well as steelworkers’ jobs across Europe.
Brussels, 19 September 2025 – Following today’s meeting between Commissioner for Trade Maroš Šefčovič and a delegation of European steel CEOs on the global steel crisis and the challenges facing the EU steel industry amid massive decarbonisation investments:
The European Steel Association (EUROFER)
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Email: mail@eurofer.eu
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