Source : National Accounts Institute
Plastics converters (NACE 22): estimate based on 2018
*Value added at current price (ESA2010)
The added value created by the chemicals, plastics and life science industry provides a clear indication of how much the sector contributes to the overall creation of wealth. The industry’s contribution to economic prosperity has been increasing over the last decade and in 2019, it generated €20.8 billion of added value.
In addition, the sector’s importance within the industrial fabric of Belgium continues to grow, primarily boosted by strong growth in the biopharmaceutical industry. The chemicals and life sciences industry’s share of the total value added of Belgium’s manufacturing industry increased from 30% in 2009 to 36% in 2019, double the European chemistry and life sciences sector’s share of manufacturing in the euro area (16% in 2019).
Although Belgium represents only 2% of Europe’s population and 3% of its Gross Domestic Product (GDP), it is Europe’s sixth (fifth of EU-) largest chemicals producer, accounting for 6% of the added value of the European chemicals industry.