ERT Benchmarking Report 2015 - Final 18 December 2015

BENCHMARKING REPORT
2015
Overview
Foreword Europe at a glance 03

EU COMPETITIVENESS
Economic growth 04
EUs R&D intensity gap 05
EU-US competitiveness gap 06
Uneven competitiveness in the EU 07
Patent filings 08
Labour productivity vs labour cost 09
Industry production 10
Loan flows to non-financial firms 11
EU governments debt 12
ENERGY & CLIMATE
Energy prices 13
Primary consumption by fuel type 14
Energy intensity & emissions 15
Carbon pricing systems worldwide 16
DIGITAL ECONOMY
FINANCIAL KPIS
Telecommunication infrastructure 17
Revenue 30
Machine-to-Machine communication 18
EBIT 31
ICT-related patents 19
R&D expenses 32
Devices online 20
Fostering start-ups development 21
Bibliography and Glossary 33
Venture capital investments 22
ERT Members 34
EMPLOYMENT, SKILLS & EDUCATION

Europes unemployment 23
Digital jobs: vacancies and graduates 24
Education performance 25
TRADE & INVESTMENT

Structure of EU trade balance 26
EU share of global exports 27
Foreign direct investments 28
Rare earth in the modern economy 29
ERT BENCHMARKING REPORT 2015 | 2
FOREWORD
Europe at a glance
As Chairmen and CEOs of leading European multinationals,

Members of the European Round Table of Industrialists (ERT) see
the business world changing. Competitive pressure on European
industries is increasing.
If we are to lay the foundations of our future competitiveness
and prosperity, Europe must offer an attractive environment for
investment to maintain a vibrant and innovative manufacturing
base in Europe, as well as to create jobs. Last year, ERT published
Industrial Renaissance ERT Agenda for Action 2014-2019, which
called on political leaders to step up progress for the completion
of the Single Market. It also presented key recommendations in all
policy areas covered by ERT.
The 2015 edition of the Benchmarking Report takes stock of
the economic reality and tracks progress towards a competitive
industry in areas identified as key for Europe: competitiveness,
energy/climate, the digital economy, employment/skills and
trade/investment.
This report is also the opportunity to highlight and be proud
of the strengths of the European Union which are recognised
worldwide. The Union is indeed the first economic power in terms
of trade. We are also a top economy in terms of wealth creation.
Our work force is highly educated and skilled. Our sophisticated
products and services are appreciated for their quality. Last but not
least, we also benefit from political stability provided by democracy
and rule of law.
It is of vital interest for Europes prosperity that the growth

and strengthening of the European industrial base remain
at the heart of the political agenda, both in Brussels and in
Member State capitals.
Industry remains the backbone of the European economy,
notably in terms of exports and R&D. However, a certain number
of imbalances could jeopardise our future. Markets and legal
frameworks in Europe are still highly fragmented. Unemployment
is high. We do not sufficiently invest in innovation and new
technologies. Other regions of the world are already implementing
strong industrial policies, including energy and competition policies
that serve their strategic interests. Global competitors are rapidly
expanding the digitisation of their economies, with increases in
innovation and productivity expected to follow.
As a result, growth is taking place outside Europe. Thus, European
leaders need to take action to ensure that Europe stays a top
business location. European climate policy should not jeopardise
the competitiveness of the European industry and urgent measures
are needed to enable the Internet of Things.
We trust you will find this report useful.
Yours sincerely,
Kurt Bock
Chairman of the ERT Competitiveness Working Group

Chairman of the Board of Executive Directors, BASF SE
December 2015
EU COMPETITIVENESS
Economic growth
Since economic growth is mostly taking place

outside Europe and in particular in emerging
countries, EU companies export and growth
opportunities depend on the effective opening of
those markets.
While the EU has been recovering from the 2012 slowdown, it is far from the levels of growth
observed and forecasted in India, China or even the US.
Gross domestic product, volume (percentage change on preceding year) - 2010 | 2012 | 2014
12
10.6
10.3
10
7.8
7.6
5.1
6
4.7
4.5
3.4
2.5
7.3
7.3
2.0
2.1
2.2
1.5
0.9
2.4
1.8
0.6
0.1
0
-0.8
1.7
-0.1
-0.4
-2
%
Euro Area
2015
(Forecast)
1.5%
EU-28
Russia
US
Brazil
Japan
China
India
1.9%
-3.8%
2.6%
-3.0%
0.6%
6.8%
7.3%
SOURCE: IMF
EU COMPETITIVENESS
EUs R&D intensity gap
Underinvestment in R&D hampers the long-term

competitiveness and health of the entire EU
industrial value chain.
China has now overtaken the EU in terms of R&D spending (as % of GDP). Only Finland, Sweden,
Denmark and Austria have reached the EU2020 target (3%).
Gross domestic spending on R&D as a % of GDP 2010 | 2013 (top third countries and EU average)
5
Within the EU-28, only 3 countries comply

with the EU2020 R&D target 2013
Finland : 3.3%
Sweden : 3.3%
Denmark : 3.1%
1
EU2020 R&D TARGET:
3% of GDP to be invested
in R&D by 2020
0
%
Israel
Korea
Japan
US
China
EU-28
SOURCE: OECD
EU COMPETITIVENESS
EU-US competitiveness gap

While being our main commercial partner, the US is also a more competitive economy,
ahead of any EU country. Such competitiveness gap between the EU and the US translates
into a persistent income gap.
Investing in innovation, in new technologies and

implementing the EU Single Market are ways to
gain a competitive advantage.
EU-28 (2014):
GDP/capita: $36,317
GDP/hour worked: $50
US (2014):
GDP/capita: $54,630
GDP/hour worked: $67
SOURCE: OECD, World Bank, WEF

EU COMPETITIVENESS
Uneven competitiveness in the EU
Structural weaknesses in the European

economies should be tackled. Greater
coordination and alignment of policies by
the EU and its Member States with industrial
objectives are needed.
Addressing Europes internal competitiveness gap is instrumental for increasing growth and jobs.
Global Positions
29
1-10
11-20
21-40
41-70
>70
10
Ranking top non-EU countries
Switzerland
Singapore
United States
Japan
Hong Kong
11
Norway
13 Canada
51
14 Qatar
15 Taiwan
16 New Zealand
SOURCE: WEF
EU COMPETITIVENESS
Patent filings
As shown by its decreasing share in total patent

filings, the EUs overall R&D position continues
to decline thus weakening its competitiveness.
The ambitious R&D policies of China, Japan and Korea have led to
bigger global shares of patent filings worldwide (PCT + EPO)*.
Country shares as a percentage of total patent filings 2007 | 2012

40
35
Patent filings
in 2012:
325,905
30
(PCT+EPO)*
25
20
15
10
5
0
%
Switzerland
Netherlands
Italy
UK
South
Korea
France
China
Germany
Japan
US
EU-28
* PCT: Patent Cooperation Treaty

* EPO: European Patent Office
SOURCE: OECD
EU COMPETITIVENESS
Labour productivity vs labour cost
Although key external competitors also see

their labour costs increasing (including China),
improving the EUs labour productivity will remain
crucial to ensure the EUs competitive edge in a
globalised economy.
Between 2004 and 2014, unit labour costs in the EU have in average increased
faster than labour productivity.
Percentage change from 2004 to 2014
GDP per hour worked
Unit Labour Costs
-1
%
Euro Area
EU-28
Japan
Korea
US
SOURCE: OECD, The Economist

EU COMPETITIVENESS
Industry production
The 20% of GDP goal for the EU manufacturing

sector must be respected and achieved through
adequate policy measures (e.g. in the energy
and climate change sector).
EU industry contributes to a quarter of wealth production and also plays an important role in terms of
jobs and innovation. Wide differences throughout Europe can be observed, e.g. in Eastern Europe, the
share of industry is still around a third of GDP. Nonetheless, in general it has faced a continuous decline
(as measured below by manufacturing). Such trend can also be observed in other developed economies.
Gross value added by manufacturing (% GDP)
20%
16.8%
2000
2014
13.7%
-3.2%
-6.3%
13.9%
Gap to EU target (20% of GDP)
Share of total industry in GDP (%)
2014
42.6%
23.7%
2014
2013
20.5%
SOURCE: EUROSTAT, WORLD BANK

EU COMPETITIVENESS
Loan flows to non-financial firms
In absence of sufficient funding from banks, an

effective European capital market is needed, in
particular for SMEs. Unintended consequences of
regulations designed for the banking sector must
also be avoided in order to not undermine industry
capacity to invest in productive assets.
Non financial firms have been hit by the financial crisis in terms of access to capital. Total lending
provided has not yet recovered from their 2007 levels. By contrast, loans to governments have
followed a steady increase.
Euro Area lending to non-financial firms
Loans to governments versus to non-financial firms

5.0
4.5
200
180
160
4.0
2
140
3.5
1
3.0
0
2.5
120
100
80
60
-1
Loans & Securities General Government
2.0
40
-2
% change on a quarterly basis
Total loans in stock ( trillion)
2014 Q1
2013 Q1
2012 Q1
2011 Q1
2010 Q1
2009 Q1
2008 Q1
2007 Q1
2006 Q1
2005 Q1
2004 Q1
2003 Q1
-3
1.5
1.0
20
Loans to Non-Financial Firms,

Non-Government Securities
0
JAN 2005 = 100
JUL 2015
SOURCE: ECB, BRUEGEL

EU COMPETITIVENESS
EU governments debt
In some Member States, high government debt

may endanger their capacity to fulfill their public
service mission (education, infrastructure,
social...) which could in the long term threaten
their competitiveness , in particular when coupled
with excessive deficits.
In 2014, government debt in the EU reached an average of 86.8% of GDP, i.e. 26.8% above the
Maastricht criteria. Cyprus, Portugal and Spain also presented severe budget deficits (i.e. at least
twice the 3% Maastricht target) while others (Germany and Estonia) managed to generate a surplus.
General gross government debt (% GDP)* 2011 | 2014
Maastricht Criteria: debt-to-GDP ratio must not exceed 60%
180
160
140
120
100
80
60
40
20
0
%
NL
MT
DE
HU
SI
AT
HR
EU-28
UK Euro Area
FR
ES
BE
CY
IE
PT
IT
GR
*Only countries/areas above the threshold are represented
SOURCE: EUROSTAT
ENERGY & CLIMATE
Energy prices
In general, industrial consumers in Europe pay higher electricity and gas prices than in other
regions of the world. Individual policy decisions have become an important driver of price gaps
within the EU thus also contributing to an increasing price differential with other economies.
Access to energy sources at a competitive price

is key for Europes industry. Policy measures
should consider the impact on energy prices
so as not to enlarge the gap with EUs major
competitors and reflect the direct production
and access costs of energy.
Average retail electricity and gas prices for industrial consumers 2012
Electricity
100+ /MWh
75-100 /MWh
50-75 /MWh
25-50 /MWh
Gas
40-60 /MWh
20-40 /MWh
0-20 /MWh
SOURCE: EC
ENERGY & CLIMATE
Primary consumption by fuel type
Facilitating innovation and technology development remains essential, as well as ensuring that
the value chain for providing low carbon solutions
remains in Europe. The EU should also focus on
sustainable domestic energy production, while
diversifying supply sources and developing
required energy infrastructure.
In 2014, the world was still predominantly relying on oil and coal in terms of
primary energy consumption and will do so for the next decades.
World primary energy consumption by fuel type 2014*

(Million tonnes oil equivalent)
Share
4,211 (33%)
3,066 (24%)
3,882 (30%)
879 (7%)
317
(2%)
574 (4%)
Total world consumption for all fuel types: 12,928
China
18%
6%
66%
1%
8%
2%
23%
US
36%
30%
20%
8%
3%
3%
18%
EU-28
37%
22%
17%
12%
5%
7%
12%
Russia
22%
54%
12%
6%
6%
0%
5%
India
28%
7%
56%
1%
5%
2%
5%
Japan
43%
22%
28%
0%
4%
3%
4%
Canada
31%
28%
6%
7%
26%
1%
3%
Brazil
48%
12%
5%
1%
28%
5%
2%
Australia
37%
21%
36%
0%
3%
3%
1%
World
33%
24%
30%
4%
7%
2%
*All data is for main consumers
SOURCE: BP
ENERGY & CLIMATE
Energy intensity & emissions
The EU must push for an ambitious international

agreement on climate change. Engaging with EU
trading partners is a key success factor towards
such agreement.
Russia and China consume more energy per GDP than the US and the EU. In addition,
although their energy intensity is lowering, total CO2 emissions continue to grow, contrary to
the US and the EU.
Primary energy consumption per GDP 2000 | 2013
CO2 Emissions 2000 | 2013

12
0.35
10
0.25
8
Billions of Tonnes
Toe/GDP constant 2011 thousand USD
0.30
0.20
0.15
0.10
0.05
0.00
Russia
China
US
EU-28
China
US
EU-28
Russia
SOURCE: BP, World Bank, EC-JRC

ENERGY & CLIMATE
Carbon pricing systems worldwide
Carbon pricing mechanisms are a basic tool to

promote the most efficient clean technologies,
but essential provisions have to be aligned to
avoid distortions of competition.
Different concepts of carbon pricing systems are developing worldwide. The existing prices
vary significantly from less than 1 to 130 USD/tCO2e. However, 85% of emissions are priced at
less than 10 USD/tCO2e.
Alberta Manitoba
British
Columbia
Washington
Oregon
Sweden
Finland
Iceland
EU
Denmark
Kazakhstan
Qubec
Ontario
California
Ukraine
Japan
China
RGGI
Ireland
Turkey
Estonia
Latvia
Poland
UK
France
Portugal
Mexico
Slovenia
Switzerland
Thailand
Brazil
Chile
Rep.
Korea
Rio de Janeiro
So Paulo
Beijing
Tianjin
South Africa
New Zealand
ETS implemented or scheduled for implementation
ETS and carbon tax implemented or scheduled
Carbon tax implemented or scheduled for implementation
ETS implemented or scheduled, tax under consideration
ETS or carbon tax under consideration
Carbon tax implemented or scheduled, ETS under consideration
Hubei
Chong-Qing
Kyoto
Saitama
Tokyo
Shanghai
Guangdong
Shenzhen
SOURCE: World Bank Group

DIGITAL ECONOMY
Telecommunication infrastructure
Public and private investments in telecommunication infrastructure are essential for

the deployment of digital economy.
Market consolidation in Europe is needed to
keep up with global competitors.
In main European economies, investments in public telecommunication

infrastructure are below the US and OECD average.
Investment in public telecommunication in the US and main EU economies 2013

300
250
$276
US$ per capita
200
150
$162
100
$146
$131
$131
$113
50
$104
$71
00
US
OECD average
France
UK
Italy
Spain
Germany
Poland
SOURCE: OECD
DIGITAL ECONOMY
Machine-to-Machine communication
Given the huge potential of connected

machines, including for the Industrial Internet,
and the speed of technological changes, urgent
policy measures are needed in the EU.
The Internet of Things as measured by the number of M2M SIM cards in use, is quickly expanding.
Scandinavian countries are particularly well positioned (per capita). However, with more than 30
million units used, the US takes the lions share.
M2M /embedded mobile cellular subscriptions: Top OECD countries 2014

35
30
Number in million units
25
20
15
10
05
00
US
Japan
France
Italy
Sweden
Germany
Korea
Netherlands
Norway
Belgium
SOURCE: OECD
DIGITAL ECONOMY
ICT-related patents
Urgent action is needed at EU level to enable

the digitisation of the European economy, in
particular to encourage R&D investments in ICT.
ICT-related patents reflect the important role of ICT innovation in the digital economy.
As reflected by other patent-related indicators, most EU countries are lagging behind other
economies, including in the ICT sector. This reflects the lower portion of R&D investment in this
area (e.g. compared to the US and Japan).
ICT-related patents under PCT* (Top OECD countries and EU) 2010-2012
30
World ICTrelated patents:
25
217,042
20
15
10
05
0
%
EU-28
US
Japan
China
Korea
Germany
France
UK
Sweden
Canada
Netherlands
*PCT: Patent Cooperation Treaty
SOURCE: OECD
DIGITAL ECONOMY
Devices online
The expected global boom of connected devices

will make the Internet of Things. For this to
become a reality, strong telecommunication
networks are necessary.
With the digitisation of the economy, the number of devices connected to the internet (i.e. with an
individual IP address) is increasing. However, some countries like Korea, Denmark or Switzerland are
much more connected than others. Important differences can also be observed within Europe.
Devices online (Top 10 OECD countries) 2015
Other countries of interest
40
35
Number per 100 inhabitants
30
UK
13.0
Italy
10.2
Japan
8.2
Poland
6.3
China
6.2
25
20
15
10
Korea
Denmark
Switzerland
US
Netherlands
Germany
Sweden
Spain
France
Portugal
SOURCE: OECD
DIGITAL ECONOMY
Fostering start-ups development
Efforts should be made by policy makers to

ensure that the EU develops the start-ups scene
required to enter in the digital economy era.
Although the cost of starting a business (fees and capital) is particularly low in some EU Member States
(UK, Ireland, Lithuania) and comparable to the US, on average such cost remains much higher in the EU
than in other key economies.
Cost of starting a business and the number of procedures involved
5.1
Lowest cost:
UK
11.0
China
6.0
US
5.0
Israel
8.0
Japan
3.0
Korea
4.9
EU-28
%
02
04
06
Number of procedures required
08
10
Cost (% of income per capita)
Highest cost:
UK
Hungary
Ireland
Slovenia
Lithuania
Germany
12
14
16
Paid-in minimum capital (% of income per capita)
SOURCE: World Bank Group

DIGITAL ECONOMY
Venture capital investments
The absence of a genuine EU capital market

remains an obstacle for the development of
Europe based start-ups.
With the exception of Israel and the US where venture capital markets are well developed, in other
countries only a very tiny proportion of GDP is used to support entrepreneurship.
Venture capital investments top 10 countries (flows, % GDP 2014)
Other countries of interest
0.45
France
0.40
0.03
Germany 0.02
0.35
Spain
0.0 1
Italy
0.00
0.30
0.25
0.20
0.15
0.10
0.05
0.00
%
Israel
US
Canada
Sweden
Korea
Finland
South
Africa
Ireland
Japan
UK
SOURCE: OECD
Europes unemployment
Youth employability is essential to secure and

improve Europes innovation and growth in an
ageing society.
On average, almost a quarter of the economically active population in the EU younger than
24 was without a job in 2014.
Youth Unemployment
Unemployment rates 2014
Total Unemployment
60
58.3
55.5
50
40
38.1
40.0
33.6
30
26.6
20
15.5
10
7.8
9.7
11.0
17.9
19.0
20.0
21.1
21.6
23.5
23.6
23.7
27.3
29.6
23.9
15.5
13.1
16.2
9.2
DE
AT
NL
DK
LU
EE
CZ
FI
UK
SI EU-28 SE
BE
FR
HU
PL
IE
SK
PT
IT
ES
GR
NO
US OECD
5.0
5.6
7.4
6.6
5.9
7.4
6.1
8.7
6.1
9.7
10.2
8.5
10.3
7.7
9.0
11.3
13.2
13.9
12.7
24.4
26.5
3.5
6.2
8.0
7.3
SOURCE: OECD
Digital jobs: vacancies and graduates
To embrace the full potential of the digital

economy, ICT skills are needed in Europe.
This will benefit not only the industry but also
growth and innovation in almost all sectors of the
EU economy.
By 2020, Europe might face a shortage of 825,000 ICT professionals.
Jobs total
Total potential demand
9,000,000
8,809,000
8,800,000
8,600,000
Gap: 825,000
8,400,000
8,200,000
8,000,000
7,594,000
7,800,000
7,984,000
7,600,000
7,400,000
7,200,000
7,325,000
7,000,000
2013
2014
2015
2016
2017
2018
2019
2020
SOURCE: EC and EMPIRICA

Education performance
No student should leave school without a basic

set of STEM and ICT skills, which are essential to
operate in a fully digitised information society.
The top 5 performers in mathematics, reading and science (average score at the PISA test)
are all situated in Asia.
Mathematics, reading and science mean score of 15-year-olds 2012

630
< 5 TOP ACHIEVING COUNTRIES
MAIN EU COUNTRIES (PER GDP) >
610
590
570
550
530
510
490
470
450
Shanghai
China
Singapore
HongKong
China
Chinese
Taipei
Korea
OECD
average
Germany
France
Mathematics
UK
Italy
Reading
Spain
Science
SOURCE: OECD
TRADE & INVESTMENT
Structure of EU trade balance
Besides bringing revenue, international trade

also contributes to millions of jobs in the EU.
Therefore the EU and Member States should
remain committed to international negotiations
in view of reaching effective agreements for
trade, energy and climate issues.
The EU trade balance is strong thanks to a large surplus in manufactured goods and in commercial
services (2014). However, Europe is also increasingly relying on energy imports. By contrast, the US,
(our main commercial partner), although remaining a heavy importing economy, has reduced their
energy imports (partly due to the shale gas reserves).
Net imports and exports in key sectors (Billions)
2005
-617.4Bn
2014
-547.8Bn
2005
-59.3Bn
2014
-800
-600
-400
+101.5Bn
-200
Trade Balance
200
Energy
Manufacturing
400
Services
600
Agricultural
SOURCE: EC, OECD, US Government, CBS

TRADE & INVESTMENT
EU share of global exports
Facilitating market access, the elimination of

trade and investment barriers and adherence to
a rules-based global trading system are crucial
to strengthen the EU economy and to remain
globally competitive.
The EU remains the main trading power. However, over the last decade, its share of global trade has
decreased (like the US and other advanced economies), while China has become a significant actor.
Total global trade in goods and services 2004 | 2014*
13.7 Trillion
2004
2 01 4
28.4 Trillion
% Share of world trade: 2004 | 2014*

19.5
16.5
17.5
13.8
13
7.6
7.6
EU-28
SOURCE: Eurostat
US
China
*Estimates
23
TRADE & INVESTMENT
Foreign Direct Investments

The global share of FDI flooding in and out of Europe and the US is following a downward
trend. The significant decline in Europe has followed the crisis in 2007.
FDI inflows and outflows 2007 | 2014
Europes capacity to attract investments is

essential to its economic and technological
development.
FDI inflows
FDI outflows
1,400
1,200
1,000
800
600
400
200
0
Bn
EU-28
Asia (East and South-East)
US
SOURCE: UNCTAD
TRADE & INVESTMENT
Rare earth in the modern economy
Since rare earth elements, and raw materials in

general, represent the lifeblood of todays industry
and given the high concentration of production
in a few third countries, political efforts should be
maintained to secure the supply to EU industry at
competitive terms.
Our modern economies make use of a wide spectrum of technology metals, including rare earth
elements. They have gained an increasing strategic importance for the ICT and defence industries and
for the green economy.
Distribution of producing countries in percent 1995 | 2012
1995
China 60.1%
US 27.8%
India - 3.4%
Brazil - 0.5%
Malaysia - 0.6%
FSU* - 7.5%
Others - 0.2%
2012
China 86.8%
US - 6.4%
India - 2.6%
Australia - 3.7%
Others - 0.6%
*FSU : Former Soviet Union

SOURCE: UNCTAD
FINANCIAL KPIS
Revenue
On average, the revenue growth generated by

ERT Member companies has slowed down since
2012. In Europe, it was even negative for two
consecutive years while a rebound could be
observed outside Europe in 2014.
Average annual change (%) per region*
Rest of the World
Europe
25
20
15
10
-5
-10
%
Total annual revenue*
2011
2012
2013
2014
1,693 Bn
1,823 Bn
1,710 Bn
1,654 Bn
*calculated for 38 ERT companies representing a total of 77% of total revenue of ERT companies
SOURCE: ERT
FINANCIAL KPIS
EBIT
The total EBIT generated by ERT Member

companies has recovered from the economic
crisis. However, for many companies, international
competition has increased, thus affecting their
operational earnings. In terms of revenue share, EBIT
has also decreased compared to the 2010 level.
Total EBIT of ERT Member companies

237Bn
250
208Bn
202Bn
212Bn
191Bn
200
150
100
50
EBIT as % of
total revenue
2010
2011
2012
2013
2014
10.7%
11.0%
8.7%
9.6%
8.9%
SOURCE: ERT
FINANCIAL KPIS
R&D expenses
Around 50 billion are invested each year by

ERT industries in R&D. This amount even shows
a steady increase on a yearly basis, in spite of
increasing pressure on their revenue. For many
European companies, growing global competition
requires them to invest more and more in R&D to
stay competitive.
R&D expenses of ERT Member companies

60
53Bn
54Bn
55Bn
49Bn
50
40Bn
40
30
20
10
R&D expenses
as % of total
revenue
2010
2011
2012
2013
2014
2.1%
2.2%
2.3%
2.5%
2.6%
SOURCE: ERT
Bibliography & Glossary

EU COMPETITIVENESS
DIGITAL ECONOMY
IMF: World Economic Outlook, 2012-2015

OECD data: Gross domestic spending on R&D, 2015
OECD Library: Main Science and Technology Indicators, 2015
The World Bank: GDP per capita, 2015
OECD data: GDP per hour worked, 2015
WEF: The Global Competitiveness Report, 2015-2016
OECD Stat: Patents by technology, 2015
OECD Stat: Growth in GDP per capita, productivity and ULC, 2015
The World Bank: World Development Indicators, 2015
The Economist: Tightening grip - Rising Chinese wages will only strengthen Asias hold on
manufacturing, 14 March 2015
European Central Bank Statistical Data Warehouse: Estimated MFI loans to NFCs by
economic activity, 2015
Eurostat: General government gross debt, 2015
BRUEGEL: Capital Market Union, A vision for the long term, April 2015
OECD: Digital Economy Outlook, 2015

World Bank Group: Starting a business, 2014
OECD: Entrepreneurship at a Glance, 2015
ENERGY & CLIMATE

European Round Table of Industrialists
BP: Statistical Review of World Energy, 2015
The World Bank Database
Joint Research Center EDGAR: CO2 time series 1990-2013 per region/country, 2015
World Bank Group: Carbon pricing watch, 2015
The World Bank Group: State and Trends of Carbon Pricing, September 2015

OECD: Unemployment rate, 2015
OECD: Youth unemployment rate, 2015
European Commission and EMPIRICA: e-Leadership in Europe, Demand and supply
forecasts (2015-2020), June 2015
OECD: Pisa 2012 Results in focus, 2012
TRADE & INVESTMENT

European Commission: European Union trade in the world: index, 2015
USDA: US Agricultural Trade, 2015
OECD Stat: International Trade balance (MEI), 2015
United States Census Bureau: US International Trade Statistic, 2015
Eurostat: Trade in goods, by main world traders, 2015
UNCTAD: World Investment Reports 2012 and 2015
UNCTAD: Commodities at a glance - Special issue on Rare Earth n5, 2014
SHORT FORM ISO COUNTRY IDENTIFIERS

EU COUNTRIES
OTHER COUNTRIES
Belgium
BE
Greece
GR
Lithuania
LT
Portugal
PT
Japan
Bulgaria
BG
Spain
ES
Luxembourg
LU
Romania
RO
Norway NO
JP
Czech Rep.
CZ
France
FR
Hungary
HU
Slovenia
SI
US
Denmark
DK
Croatia
HR
Malta
MT
Slovakia
SK
Germany
DE
Italy
IT
Netherlands
NL
Finland
FI
Estonia
EE
Cyprus
CY
Austria
AT
Sweden
SE
Ireland
IE
Latvia
LV
Poland
PL
UK
UK
US
ERT Members
CHAIRMAN
Benot Potier - Air Liquide
VICE-CHAIRMEN
Nils S. Andersen - A.P. Mller-Maersk
Vittorio Colao - Vodafone Group
Jean-Paul Agon
LOral
Claudio Descalzi
Eni
Grard Mestrallet
ENGIE
Csar Alierta Izuel
Telefnica
Henrik Ehrnooth
KONE
Lakshmi N. Mittal
ArcelorMittal
Paulo Azevedo
SONAE
John Elkann
FCA
Dimitri Papalexopoulos
Titan Cement
Ben van Beurden
Royal Dutch Shell
Christoph Franz
F. Hoffmann-La Roche
Jan du Plessis
Rio Tinto
Kurt Bock
BASF
Ignacio S. Galn
Iberdrola
Patrick Pouyann TOTAL
Zsolt Herndi
MOL
Norbert Reithofer
Jean-Franois van Boxmeer Heineken
BMW Group
Carlo Bozotti
STMicroelectronics
Heinrich Hiesinger
ThyssenKrupp
Stphane Richard Orange
Svein Richard Brandtzaeg
Norsk Hydro
Timotheus Httges
Deutsche Telekom
Kasper Rorsted
Henkel
Antonio Brufau
Repsol
Frans van Houten
Royal Philips
Gler Sabanci
Sabanci Holding
Ton Bchner
AkzoNobel
Pablo Isla
Inditex
Risto Siilasmaa
Nokia
Paul Bulcke
Nestl
Leif Johansson
Ericsson
Tony Smurfit
Smurfit Kappa Group
Jean-Pierre Clamadieu
Solvay
Joe Kaeser
Siemens
Ulrich Spiesshofer
ABB
Iain Conn
Centrica
Jacek Krawiec
PKN Orlen
Carl-Henric Svanberg BP
Ian Davis
Rolls-Royce
Bruno Lafont
LafargeHolcim
Johannes Teyssen
E.ON
Rodolfo De Benedetti
CIR
Thomas Leysen
Umicore
Jacob Wallenberg
Investor AB
Bill McDermott
SAP
Nancy McKinstry
Wolters Kluwer
Pierre-Andr de Chalendar Saint-Gobain

Marijn Dekkers
Bayer
SECRETARY GENERAL
Brian Ager
stephenson design.eu
European Round Table of Industrialists
Place des Carabiniers 18A Karabiniersplein I B-1030 Brussels
Tel. +32 2 534 31 00 I www.ert.eu I @ert_eu I contact@ert.eu


ERT Benchmarking Report 2015 - Final 18 December 2015

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BENCHMARKING REPORT

Foreword Europe at a glance 03

Bibliography and Glossary 33

Venture capital investments 22

EMPLOYMENT, SKILLS & EDUCATION

TRADE & INVESTMENT

ERT BENCHMARKING REPORT 2015 | 2

As Chairmen and CEOs of leading European multinationals,

It is of vital interest for Europes prosperity that the growth

Chairman of the ERT Competitiveness Working Group

ERT BENCHMARKING REPORT 2015 | 3

Since economic growth is mostly taking place

EUs R&D intensity gap

Underinvestment in R&D hampers the long-term

Within the EU-28, only 3 countries comply

EU-US competitiveness gap

Investing in innovation, in new technologies and

SOURCE: OECD, World Bank, WEF

Uneven competitiveness in the EU

Structural weaknesses in the European

Ranking top non-EU countries

As shown by its decreasing share in total patent

Country shares as a percentage of total patent filings 2007 | 2012

* PCT: Patent Cooperation Treaty

Labour productivity vs labour cost

Although key external competitors also see

Percentage change from 2004 to 2014

GDP per hour worked

Unit Labour Costs

SOURCE: OECD, The Economist

The 20% of GDP goal for the EU manufacturing

Gross value added by manufacturing (% GDP)

Gap to EU target (20% of GDP)

Share of total industry in GDP (%)

SOURCE: EUROSTAT, WORLD BANK

Loan flows to non-financial firms

In absence of sufficient funding from banks, an

Euro Area lending to non-financial firms

Loans to governments versus to non-financial firms

Loans & Securities General Government

% change on a quarterly basis

Total loans in stock ( trillion)

Loans to Non-Financial Firms,

SOURCE: ECB, BRUEGEL

In some Member States, high government debt

General gross government debt (% GDP)* 2011 | 2014

Maastricht Criteria: debt-to-GDP ratio must not exceed 60%

*Only countries/areas above the threshold are represented

ENERGY & CLIMATE

Access to energy sources at a competitive price

ENERGY & CLIMATE

Primary consumption by fuel type

World primary energy consumption by fuel type 2014*

Total world consumption for all fuel types: 12,928

*All data is for main consumers

ENERGY & CLIMATE

Energy intensity & emissions

The EU must push for an ambitious international

Primary energy consumption per GDP 2000 | 2013

CO2 Emissions 2000 | 2013

Toe/GDP constant 2011 thousand USD

SOURCE: BP, World Bank, EC-JRC

ENERGY & CLIMATE

Carbon pricing systems worldwide