Speaking ahead of today's Brexit vote, Steve Elliott, Chief Executive of the Chemical Industries Association said: “In this critical week I urge all Members of our Parliament to ensure that the United Kingdom secures a deal with the European Union on our withdrawal from membership and our future relationship. For chemical businesses and hundreds of thousands of manufacturing jobs across the country, leaving our biggest trading partner on 29 March without any agreement is an economic price that is just too high to pay.”
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- The chemical and pharmaceutical industry adds £18 billion of value to the UK economy every year from total annual turnover of £50 billion.
- In addition to gross value added, the sector also contributes to the UK economy in its position at the head of many supply chains within manufacturing and its employment of a well remunerated, high-skilled workforce. We support 500,000 jobs both directly and indirectly Chemical manufacturing adds £9 billion in gross value added annually and pharmaceutical manufacturing £9 billion.
- The wider chemical and pharmaceutical sector (manufacturing plus distribution) is the largest exporter of manufactured goods with annual exports of over £50 billion. The export of motor vehicle, trailers and semi-trailers is the sector with next highest exports of £35 billion. Aerospace is £32 billion.
- 63% of companies in the sector export what they make to the world, the highest proportion of any goods manufacturing sector in the UK economy. 60% of our exports go to the European Union and 75% of our imports and raw materials come from the European Union.
- The sector’s level of business investment is £4.3 billion, compared to automotive £2.7 billion and aerospace £2.1 billion, while the expenditure on research & development is £5.0 billion (automotive £2.7 billion and aerospace £2.1 billion).
- The products and technologies of the Chemical industry are essential parts of medicines, food & drink, telecommunications, energy-saving, I.T, clothing and much more.
- For every tonne of Greenhouse Gas (GHG) emitted, our products and technologies enable over 2 tonnes of GHG emissions savings.