Manufacturing is one of our most important economic activities. It has the greatest multiplier effect on economies and is a major driver of knowledge-building and job creation. Around the world, more than 300 million people are employed in manufacturing, accounting for some 14% of global employment. Nevertheless, the share of manufacturing activities and employment as a percentage of GDP continues to drop globally – it now rests at 17% compared to 27% in 1970. In some economies, this share is declining rapidly, such as the United States where it was 12% in 2010. In other countries, the decline is less rapid, such as in China, where it accounted for 33% in 2010.
Published on: Tuesday 1st of June 2010