Chemical industry is key investor in R&D, Eurostat report shows
The chemical industry is one of Europe's principal investors in research and development (R&D), according to 'European business, Facts and Figures 2002', published by Eurostat. The document provides information on Europe's key industries and services, which include chemicals, machinery and equipment, and food and beverages. In 2000, the chemical industry generated 16.2 per cent of the manufacturing sector's value added in the EU, and between 1990 and 2000 it saw an annual growth rate of 3.2 per cent compared with 1.9 per cent for the total manufacturing sector. Basic chemicals, pharmaceuticals and the processing of plastic products accounted for more than 70 per cent of value added. The chemical industry invests a great deal in R&D. In 1998 it accounted for 26 per cent of the manufacturing sector's R&D expenditure in the EU and as much as 46.1 per cent in Belgium, 43.2 per cent in Denmark and 36.3 per cent in the UK. Within the chemical industry, pharmaceuticals accounted for 53.8 per cent of R&D expenditure. The chemical industry is among the top three industries by value added in 11 out of 15 EU Member States, and is the main industry in Belgium, France and Ireland. Food and beverages is however the main industry by value added in six Member States, namely Denmark, Greece, Spain, the Netherlands, Portugal and the UK.