What the process industry is worth

Jan 29 2008 by Sue Scott, Evening Gazette

THE process industry accounts for more than 60% of the Teesside economy.

Almost 25% of the North-east’s £35bn GDP is generated by the process sector.

35% of the UK’s pharmaceutical GDP is produced in the North-east.

58% of the UK’s petrochemical industry is based in the North-east.

70% of Teesport trade is in goods from the process sector.

More than 500 companies are engaged in the process industries across the North-east, employing 34,000 people directly and impacting indirectly on the incomes of a further 280,000.

92% of UK chemicals were exported in 2004, 61% to the EU.

Chemicals account for 11% of the value added by all UK manufacturing.

The process industry is the top manufacturing earner, contributing a surplus approaching £6bn.

The industry spends nearly £2bn annually on new capital investment.