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According to data from 2010, the European Cutting Tool Association (ECTA) estimates that the European tool industry has an annual production value of about 7 billion euros, of which the annual output value of cutting tools is about 5 billion euros, and the annual output value of tool chucks is about 2 billion euros. The number of registered employees in the European tool industry is about 60,000. European tool product exports account for more than 50% of global tool exports.
The annual output value of the European cutting tool industry is about 7 billion euros