Study report says chemical industry contributes $5.7tn to global GDP

International Council of Chemical Associations (ICCA) has reported that the chemical industry contributes nearly $5.7tn to the global GDP through direct, indirect and induced impacts. The report also highlighted that the chemical industry is accessed by nearly every good-producing sector and supports nearly 120 million jobs worldwide. The chemical industry is the fifth-largest global manufacturing sector as it directly employs 15 million people and adds $1.1tn to world GDP. ICCA council secretary and president and CEO of the American Chemistry Council (ACC) Cal Dooley said: “Over time, chemical manufacturers have become an integral part of the global economy and a critical enabler of technologies that improve people’s lives around the globe.