Industry in Europe has fallen down again in 2012 after two years of a modest recovery in 2009-2011. Share of manufacturing on the European GDP has fallen to 15.1% in 2012, which is a worrisome fact for all the other sectors. Europe is losing its position on the global manufacturing market as well as its innovation capacity and technological advantage over the markets of the USA, Japan or BRICS.
This fact has a strong negative influence on productivity and competitiveness of European industries on a global scale, especially when compared to the US industries. The so-called innovation gap is most visible in the communication and ICT Technologies and biotechnology.
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20th February 2019
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