12 July 2012 13:50 [Source: ICIS news]
Excluding pharmaceuticals, first-half 2012 chemical production was down 3.5% year on year, Frankfurt-based Verband der Chemischen Industrie (VCI) said.
However, despite the first-half decline, VCI maintained its previous forecast of zero year-on-year production growth for 2012, saying that full-year chemical and pharmaceutical production will still be level with 2011 production.
Full-year chemical and pharmaceutical sales are projected to increase by 2.0%, with prices expected to be up also by 2.0%. Excluding pharma, chemical sales and prices are projected to rise by 2.5% in 2012.
“The industry has performed well in a difficult economic environment,” said VCI president Klaus Engel, commenting on the first half of 2012 and the full-year outlook.
As for the first half, chemical and pharmaceuticals sales declined by 0.5% to €89.2bn ($108.8bn).
Domestic sales were up 0.5% to €35.5bn while chemical firms’ direct export sales abroad declined by 1.0% to €53.7bn.
First-half exports – including chemical producers’ direct exports, re-exports, and exports of chemicals by other industries – were up 1.0% to €77.2bn. Growth came from Asia, South America and the
Producer prices were up 3.0% year on year as firms raised prices because of high raw material costs, the group said.
VCI also said that it expects
($1 = €0.82)Paul Hodges studies key influences shaping the chemical industry in his Chemicals and the Economy Blog
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