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The UK chemical industry has a very impressive record of export achievements in recent years. It is vigorous and successful and has grown considerably faster than most British industries, especially in terms of sales in overseas markets. It achieved a positive balance of payments of about £1500 million in 1977, it employs around six per cent of all those in UK manufacturing, and with a capital spending programme which accounts for some fifteen per cent of the total of all manufacturing industry in this country, has a massive impact throughout the economy. It accounts for ten per cent of the value of total industry output and in 1978 about thirty four per cent of chemicals sales were exported. It has, then, an enormous potential to contribute still more to the development of the UK economy.

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