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Europe’s nearshoring boom

From fDi Intelligence

Graph Time
A midweek dose of data on trade, investment and economic development

By Alex Irwin-Hunt

February 21, 2024

The rise of nearshoring FDI close to Europe
Nearshoring, or the movement of production closer to end-consumers, is not new, but it is on the rise. Foreign investors pledged more than $82bn to greenfield manufacturing projects in 15 nearshoring destinations close to Western Europe between 2022 and 2023. This was the highest two-year figure ever recorded and up 62% on pre-pandemic levels. Nearshoring has a multitude of aims. It is a way for companies to build resilience in their supply chains. But also to bypass tariffs, which have been imposed by the likes of the EU and US in recent years. Several countries, especially those with lower labour costs, have been winners from this new dynamic.

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The peak performance (in petaflops) of the world’s most powerful computer.

Value of new listings on the London Stock Exchange in 2023.
Our second chart of the week shows a start-up ecosystem in the US that has been growing at breakneck speed. Can you guess which tech hub ranked fourth globally in a PitchBook analysis over five years up to Q2 2023? A clue: it is in a southern state.

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