Belgian industry is running at only three-quarters of its capacity, according to the VBO FEB economic barometer. 'This is a crisis level comparable to the pandemic, the banking crisis or the devaluation of the Belgian franc,' writes De Tijd. According to the newspaper, 5,000 jobs have been lost this year alone.
Photo: Dreamstime.
According to Fedustria, a Belgian sectoral employers' association for manufacturing companies in the textile, wood and furniture sectors, the industries are facing significant losses due to the erosion of their competitive position caused by a complex interaction between three factors:
- High labour costs
- Expensive energy costs
- Declining demand
'Last year, our sectors employed 34,858 people, of which 17,353 were in the textile sector and 17,505 in the wood and furniture sector. We recorded a combined turnover of €11.2 billion. A good 70% of production is for export.
If we want to maintain and boost this, it is now time for a well-thought-out industrial policy. The Flemish government and the 4 largest industry federations made five concrete commitments in March with the signing of the Future Pact for Flemish Industry.
The areas of work:
- Competitiveness and international trade
- Investment and legal certainty
- Innovation
- Talent
- Energy and circular transition
These commitments are essential for a resilient and sustainable industry! We therefore want to work together with different governments and policy levels for a strong economic future. We are ready in the starting blocks to reach the finish line together!' Fedustria reports on social media.