As a strong business location with international appeal, NRW is a key factor in the stability of the European Union (EU). A recent short study by the German Economic Institute (IW) entitled "The importance of North Rhine-Westphalia for the EU" confirms this. According to the study, NRW occupies an outstanding economic position compared to other European regions. Its per capita gross domestic product is around 20 percent above the EU average, which is an indicator of the region's high economic performance. Furthermore, the region exports goods worth 142 billion euros to other EU member states annually.
No other federal state combines a robust industrial base with global networking more effectively: NRW supplies the domestic market with essential raw materials from the chemical, mechanical engineering and metal product sectors, thereby ensuring industrial value chains throughout Europe. Additionally, numerous universities, specialized STEM institutes and technology-developing companies support Europe's digital sovereignty and drive the climate-friendly transformation forward. The almost 26,000 patents generated in the last five years demonstrate that research spurs the development of market-ready, competitive products.
With this close interlinking of industrial substance and innovation dynamics, NRW is setting standards – and thus living up to its reputation as Europe's heartbeat. This is where solutions for decarbonization, digitalization and new production processes are created that have an impact beyond the state's borders. This makes NRW not only the engine of Germany's industrial future, but also a key player for the competitiveness and sustainability of the entire EU.
Read the entire short study here