Record turnover and high investment in chemicals and pharmaceuticals
Share article:
Share article:

Record turnover and high investment in chemicals and pharmaceuticals

© Belga
© Belga

Belgium’s pharmaceuticals and chemicals sector had a record turnover of 65.8 billion euros in 2017, while investments totalled 2.2 billion euros, a 10-year high, according to figures presented on Thursday by the sector’s federation, Essenscia. “The year 2017 was positive for the sector,” said Essenscia Director Yves Verschueren. “There was record turnover and employment is going in the right direction. The trend is also favourable for export, traditionally one of our strongpoints.” Prospects for the future are also positive, despite uncertainties linked to the international situation, he added.

Turnover went from 64.9 billion euros in 2016 to 65.8 billion in 2017. In 10 years, the sector grew by 26%, and it now represents about a quarter of turnover in the manufacturing industry.

Employment increased by 1,125 units and now amounts to 90,778 jobs, but it is still below the level it had reached before the crisis. “Our aim is to go back to that level at a given time,” Essenscia said.

However, the need for scientific and technical talent is particularly high. The sector lost about 22,000 experienced workers in the past 10 years due to ageing.

Meanwhile, spending on research and development reached a record high of 4.4 billion euros as against 4.1 billion in the previous year.


The Brussels Times

Latest news

European Council: Decisions on Covid-19 and energy and debate on other issues
At the two-days summit which ended on Friday, the European Council adopted conclusions on COVID-19, digital, energy prices, migration, trade and ...
Flanders ‘water bomb’ could cause €2 billion in damages and affect thousands
The next "water bomb" or heavy rainfall over Flanders could cause damages estimated at around €2 billion, and could affect up to 100,000 people in ...
Pfizer Covid-19 vaccine 90% effective in 5 to 11-year-olds
The Pfizer-BioNTech vaccine is 90.7% effective in preventing symptomatic forms of the coronavirus in children aged five to 11, Pfizer announced on ...
Belgian airport named best for cargo in Europe
Brussels Airport has been named the best airport in Europe in a 2021 roundup of the best cargo airports across the world. The Asian Freight, ...
NASA plans first return mission to Moon in February 2022
The United States space agency, NASA, has announced that it will be aiming to launch its first, uncrewed mission to the moon, Artemis 1, in February ...
New, reportedly more contagious Delta mutation being monitored
A new mutation of the Delta variant of the coronavirus, which is reported to be more contagious, is being monitored by health authorities in the ...
Angèle releases new single: ‘Bruxelles je t’aime’
Belgian singer Angèle has unveiled her latest song ahead of the release of her new album, due later this year. 'Bruxelles je t'aime' (Brussels I ...
23 million chickens and 1.7 million pigs: Climate experts call for livestock cut
Flander's livestock needs to be drastically cut to save the climate and reach the emission reduction targets, according to the latest advice from the ...
Vaccination uptake surges in Wallonia following CST announcement
The number of people getting vaccinated against the coronavirus increased fourfold in Wallonia after it was announced that the Covid Safe Ticket ...
Guilty by association
BRUSSELS BEHIND THE SCENES Weekly analysis and untold stories With SAM MORGAN Other Brussels behind the scenes stories: Brussels' bid to make ...
Health minister supports use of Covid Safe Ticket in workplace
As the use of the Covid Safe Ticket (CST) has been expanded in Brussels and is set to in Wallonia, federal health minister Frank Vandenbroucke has ...
Maggots show Conings may have lived longer following disappearance
Former army soldier Jürgen Conings, whose disappearance in mid-May resulted in a month-long manhunt, may have been alive for longer than has been ...