The chemical industry's contribution to the EU gross domestic product amounts to 1.3%. When pharmaceuticals are added this figure amounts to 2%. This may seem small at first sight, but should be re-assessed taking into consideration both the shrinking contribution of industry as a whole to GDP in advanced economies (-7% over the last 5 years in the EU) along with a rise in services. Additionally, there is a wide contribution of chemical products into all branches of the economy; for example in Germany chemicals are the most important supplier of innovative materials for the industry. In Germany chemicals represent 10% of the supply of input and intermediary products and they show an above average R&D content. Chemicals account for more than 7% of manufacturing value added and more than 6% of industry value added in Europe.
|