International Standards and Conformity Assessment for all electrical, electronic and related technologies
IEC Industry perpective

Governments/ International Organizations

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Economic benefits

Significant impact on economy

 

According to the study carried out in Germany, economic development does not solely depend on innovation potential but also on broad dissemination of standards and technical rules.

 

Part of this study was a macroeconomic analysis covering the period 1960-1996, which highlighted the following factors:

  • More new standards are published in innovative sectors than in non-innovative sectors. A similar correlation was found using R&D expenditure as a factor.
  • International and European standards have a significant impact on German exports, while national standards do not.
  • International Standards encourage intra-industrial trade more than national standards, and they improve the competitive chances of domestic products.
  • Non-participation in standardization work generally increases the cost of R&D.
  • Standards make technical specifications more transparent and encourage technology transfer.                                                                                                                                                                                                                                                                                                                                                                                                      

The study concluded that the economic impact of standardization on the overall economy was approximately 1% of the GNP (Gross National Product).