Czech chems report '99 sales up 3.8% to Koruna192bn

12 May 2000 17:10  [Source: ICIS news]

PRAGUE (CNI)--Exports were the main driver behind the Czech chemical industry's 3.8% rise in 1999 revenues to Koruna192bn ($4.7bn/ Euro5.2bn) the Association of Chemical Industry (ACI) reported Friday.

The ACI said that sales to European Union (EU) countries, particularly Germany, were almost 9% higher at Koruna110bn and accounted for almost half the exports. Outgoing goods were primarily basic organic and inorganic chemicals, plastics and rubber products. Countries of the Central European Free Trade Area (CEFTA) accounted for a further 36% of Czech chemicals exports last year.

Frantisek Dvorak, director of the ACI, said that the chemicals industry was making good progress in bouncing back to the level of sales experienced before the 1998 recession struck.

Highest sales growth last year was delivered by the rubber, plastic and petrochemical sectors, which also include the manufacture of tyres, technical rubber goods and miscellaneous plastic goods. Together they accounted for 31% of chemicals revenues due primarily, according to Dvorak, to the impact of foreign investors and market domination by small- and medium-sized businesses able to react fastest to market changes.

Dvorak said: "The situation has improved mainly because we are exporting more to the EU. The situation improved in 1999 and, even though it was not as good as it was previously, the tendencies are heading that way."

"We are optimistic that this year will get better," he said, and predicted "an increase in demand."

The chemical industry is the Czech Republic's fourth largest industry, employing about 90 000 workers and its accounts for 12% of industrial revenues.

By: Katka Krosnar
+44 20 8652 3214

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