Insight

European Competitiveness and Industry Benchmarking Report 2019

General Policy

European Competitiveness and Industry Benchmarking Report 2019 produced by The European Round Table for Industry (ERT) and Global Counsel shows how vital it is that Europe quickly unites behind an ambitious, long-term industrial strategy.

Findings include:

  • European R&D spending rates (measured by intensity) are now below the OECD average, and below both China and the US  
  • European growth rates are significantly below the global average
  • Overall economic productivity in the EU is just 75 per cent of that in the US
  • The share of European companies in the Fortune 500 has declined from 32 per cent in 2010 to 23 per cent in 2019
  • The number of patent applications in the EU is lower than in the US and China in the ICT sector and lower than in the US and Japan in the biotech sector. Europe performs worse than the US and China in terms of the share of ‘unicorns’

Full ERT Competitiveness and Industry Benchmarking Report 2019 is available here.
 

Authors

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