Calculating chemistry's contribution to the UK economy
The Royal Society of Chemistry finds that chemistry added £60.5bln to the UK economy in 2023, supporting 327,500 jobs.
Furthermore, there was an 18% increase in the contribution of chemistry to the UK economy from 2019-23. And 46% of chemistry-using professionals work in government priority sectors.
The report, 'The contribution of chemistry: Understanding how chemistry capability translates into economic value across the UK', puts numbers to how chemistry contributes to the UK as a whole.
It concludes that chemistry:
- Is essential in delivering the UK’s priority growth sectors
- Underpins a strong but vulnerable skills pipeline
- Supports growth and opportunity across the UK’s nations and regions
The RSC also says the UK must capture more value from its chemistry strengths. While it is strong in chemistry research and discovery, it faces challenges in scaling up innovations and retaining value locally and nationally.
Strengthening links between research, innovation, skills and industry could enable more discoveries to translate into meaningful outcomes.
