The JRC of the EC publishes report on the size of the bioeconomy

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Type of post: NEWS IN BRIEF.

The Joint Research Centre (JRC) of the European Commission has just published a report that broadens the ongoing discussion on how to measure and determine the contribution of the bioeconomy to a sustainable and circular economy.
Publication: “How big is the bioeconomy?”.

Figure 1. Cover of the report “How big is the bioeconomy?”

The purpose of the report is to advance more objective and rigorous measurement and analysis of the bioeconomy according to the broad definition of the European Commission in 2018. The focus is mainly on the economic indicators, aiming at the inclusion of biobased services derived from the symmetric input-output tables from the system of national accounts available from Eurostat and additional expert information. The approach allows for yearly updates following the calendar of Eurostat I-O tables, probably with a 3 to 4 years delay.

Applying the methodology with the adjustments proposed, the estimate for the EU-28 bioeconomy in 2015 reaches €1,460.6 billion value added, which is 11% of the GDP. The nova-JRC methodology, used in many bioeconomy publications, calculates €621 billion value added for the same year. This difference is mainly explained by the contribution of €872 billion by the tertiary bioeconomy sectors in the proposed methodology.

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