17 Nov 2017

Overview of the bioeconomy in the European Union and its economic value in two EC reports

The European Commission (EC) has published two reports that show the economic value of the bioeconomy in the European Union and provide a horizontal view of the bioeconomy in Europe in different economic sectors, academics and political areas:

  • Estimating jobs and wealth in the Bioeconomy (2017). The bioeconomy generates 4.1% of the EU GDP and employs 8.2% of the EU labour force. Concomitant growth in value added and reduction in number of persons employed resulted in apparent labour productivity gains over the period 2008 – 2015. Each bioeconomy sector follows its own dynamics, which can also differ from one EU Member State to another. Looking at dynamic similarities across Member States can help differentiating bioeconomy strategies according to distinct Member State groups for a finer targeting

  • Bioeconomy Report 2016 (2016). First report providing horizontal analysis of the EU Bioeconomy. The main findings of this report are: The Bioeconomy cuts across several economic sectors, academic disciplines and policy areas, Bioeconomy R&I are heavily supported by EU funds, The EU bioeconomy provides more than 18 million jobs with overall decreasing tendency due to structural changes, e.g. in agriculture and The EU bioeconomy creates a turnover of 2 trillion € with increasing tendency