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From 1993 to 2003, annual growth in GDP averaged 2.9 percent. During the same period, value added in the motor-vehicle industry12 rose by an average of more than 11 percent per year (see Diagram 83), and in 2003 the industry accounted for almost three percent of value added in the business sector. The direct contribution of the industry to annual GDP growth thus averaged nearly 0.3 percentage point. The variations between years, however, are considerable; in 1994 the motor-vehicle industry contributed 0.65 percentage point, whereas in 2001 the industry’s contribution was negative.
Diagram 83 Value Added in the Motor Vehicle Industry (SIC 34)
Diagram 84 Value Added in the Motor Vehicle Industry (SIC 34)
With this substantial increase in output, employment also went up despite a strong rise in productivity averaging almost 9 percent per year. In 1993 some 62 000 persons were employed in the motor-vehicle industry; by the current year, the number had surpassed 76 000 (see Diagram 85) and accounted for 2.6 percent of total employment in the business sector.
Diagram 85 Number Employed in the Motor Vehicle Industry
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