European GDP benefitted by €38.5 bn in 2018, in the recent study from EuropaBio ‘Measuring the Economic Footprint of the Biotechnology Industry in Europe’. The study looked at the economic impact of the biotechnology industry within the (then) 28 European member states, in terms of gross value added (GVA), employment and trade.
Including spill over effects, that number rises to €78.7bn. The direct contribution adds up to about 1.5% of total industrial GVA within the countries assessed, supported by 223,000 direct jobs rising to over 700,000 with associated employment.
Very few other sectors enhance quality of life, knowledge, innovation, productivity, and environmental protection as biotechnology does.
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