Abstract Background Suicides are an important public health problem with multidimensional consequences for the whole society. One of the under-researched areas of suicide consequences are production losses associated with these deaths. The aim of this study was to estimate the production losses (indirect costs) of suicide deaths in 28 European Union states (EU-28) in 2015. Methods The study applied the top-down approach, societal perspective and human capital method to sex- and age-specific data on suicide mortality at working age. The WHO Mortality Database was used to identify the number of deaths (3-year average) in each country while the Eurostat's labour and economic indicators were used to proxy the value economic output lost. Results The production losses attributable to suicide deaths in EU-28 in 2015 were €8.81 billion. The per capita indirect costs of these deaths were €17.28 for the whole EU-28 population; Ireland experienced the highest per capita burden (€50.38), while the average costs were the lowest in Cyprus (€3.84). The losses constituted an economic burden of 0.06% of EU-28's GDP; this share ranged from 0.016% (Cyprus) to 0.149% (Latvia). Most of the losses were due to men's deaths and the proportion of losses associated with male mortality ranged from 70.9% (Sweden) to 91.4% (Poland). The results of sensitivity analysis exhibit large variation of losses; the highest costs were estimated with no adjustment for lower employment rates among those committing suicide (36.9% to 238.9% higher than in base scenario) while the lowest costs resulted from the scenario of adjustment for minimum productivity (-47.6% to -65.7% lower than in base scenario). Conclusions The production losses caused by suicide deaths are a substantial burden for European economies. Therefore, the use of cost-effective actions aimed at limiting self-harm mortality might be beneficial not only in terms of health gains but could also contribute to limiting indirect costs. Key messages Production losses attributable to suicide deaths are 0.06% of EU’s GDP, ranging from 0.02% of GDP in Cyprus to 0.15% of GDP in Latvia. Indirect costs of men’s deaths dominate in all the countries and this can be explained by both higher suicide rates and longer economic activity than among women in Europe.