Biotechnology shows strong economic influence in the EU

The analysis is based on a multiregional input-output model and the system of national accounts. It shows that biotechnology makes a significant contribution to gross value added, productivity, the labour market and trade within the EU. In addition to concrete figures on the direct contribution to gross domestic product, spillover effects along the European value chains are also shown. Although the study does not cover the economic activity of companies that are still in the development phase or that offer biotechnological services, it does cover the value of the products that are consumed in this early phase. This indicates a high potential for innovation, which is later reflected in measurable economic success. The aim of the study was to make the importance of the industry for the European economy more visible and to create a sound data basis for political decisions.