Question

Give the ECONOMIC BENEFITS OF CHEMISTRY IN WORLD ECONOMY​

Answer 1

Answer:

Following conclusions were made as of 2019-

Explanation:

1. The chemical industry added $1.1 trillion to world GDP and employed 15 million people, making it the fifth-largest global manufacturing sector.
2. Companies in the chemical industry spent an estimated $3 trillion USD with their suppliers in 2017, buying goods and services used in the manufacture of their products. This supply chain spending contributed an estimated $2.6 trillion USD to global GDP, and supported 60 million jobs.
3. For every $1 USD generated by the chemical industry, a further $4.20 USD is generated elsewhere in the global economy.
4. The global chemical industry invested an estimated $51 billion USD in Research and Development (R&D), supporting 1.7 million jobs and $92 billion USD in economic activity.
5. The largest contributor to GDP and jobs is the Asia-Pacific chemical industry, generating 45 percent of the industry’s total annual economic value, and 69 percent of all jobs supported. Europe made the next most important contribution ($1.3 trillion USD total GDP contribution, 19 million jobs supported) followed by North America ($866 billion USD total GDP contribution, 6 million jobs supported).