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
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections