Wednesday, February 22, 2017

Estimating the Value of a Country's (Region's) Chemical Industry

I am assuming the chemical industry revenues that a country (region) is able to generate divided by the country's (region’s) population can be useful as a measure of that country’s (region’s) chemical industry value added to the country (region).   If this assumption is correct, then the following table is an estimate of the chemical industry value for various countries (regions):

revenues usd 2015
population 2015
revenues per person
Germany
205,000,000,000
81,000,000
2,531
South Korea
120,000,000,000
50,000,000
2,400
Gulf Cooperation Council countries
120,000,000,000
51,000,000
2,353
Japan
210,000,000,000
127,000,000
1,654
United States
490,000,000,000
319,000,000
1,536
NAFTA
625,000,000,000
441,000,000
1,417
European Union
660,000,000,000
508,000,000
1,299
France
85,000,000,000
66,000,000
1,288
China
1,100,000,000,000
1,400,000,000
786
Russia
85,000,000,000
144,000,000
590
Canada
20,000,000,000
35,000,000
571
Global
3,500,000,000,000
7,400,000,000
473
Brazil
85,000,000,000
200,000,000
425
South America
160,000,000,000
423,000,000
378
Asia
1,600,000,000,000
4,400,000,000
364
India
70,000,000,000
1,300,000,000
54


The table suggests that China’s chemical industry is about 14 times more valuable for China than India’s chemical industry is for India ($786 revenue per person vs. $54 revenue per person; 786/54 = 14.56).   And Germany’s chemical industry produces about twice the value for Germany as France’s chemical industry produces for France ($2531 revenue per person/$1,288 revenue per person = 1.97).

The Internet was used to find chemical revenues and population amounts.

A reasonably accurate measurement that indicates the value added by a country’s chemical industry to the country might be useful in measuring progress a country is making over time in increasing its chemical industry value.   Simply increasing a country’s revenues may not be sufficient in understanding how much value is being added by that increase.   Relating (rating) the increase to per persons could be more useful.



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