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The contribution of bio-based industries to the bio-economy is underrated. These industries show a considerable turnover of almost € 700 billion and 3.7 million employees in the EU-28 in 2015.
Editorial office Brussels

This is about a quarter of the total turnover in the bio-economy, including food and beverages and the primary sectors agriculture and forestry: € 2.3 trillion in the EU-28. The bioeconomy employs 18.5 million people in total, of which 55% are active in primary biomass production.

This is shown in a new study of macroeconomic effects of activities in the bio-based industries by the Nova Institute. The study was first conducted in 2016 on behalf of the Bio-based Industries Consortium (BIC) and has now been updated with new data for 2014 and 2015.

Bio-based industries include chemicals and plastics, pharmaceuticals, paper and paper products, forest-based industries, textile sector, biofuels and bioenergy.