U.K. Focus: Thriving on Exports

Elliott: Top of the productivity league. The £60-billion/year ($97.6 billion) chemical industry forms an essential part of the U.K. economy, creating £10.5 billion in value across the sector. Chemicals and pharmaceuticals represent more than 7% of total U.K. manufacturing. The sector is the single biggest exporter, delivering 15% of the country’s exports. About 90% of U.K. chemical companies engage in export activity, together making chemicals the only sector to run a trade surplus. The U.K. is home to the fourth-largest chemical industry in the...

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