US November petrochemical shipments increase 14% year on year

04 January 2013 17:08  [Source: ICIS news]

HOUSTON (ICIS)--The value of US-made chemical shipments in November recorded another small increase year on year, with the petrochemicals sector seeing a 14% increase, according to data released on Friday by the US Department of Commerce.

The value of US land and water chemical shipments totalled $62.63bn (€48.23bn) in November, up by 2% compared with $61.35bn a year earlier.

The largest chemical sector tracked by the census – petrochemicals – rose again, with shipments in November totalling $42.96bn, compared with $37.54bn in the same month of 2011. The value of petrochemical shipments has increased year on year for eight straight months.

The value of total shipments for all US manufacturing industries in November extended its string of year-on-year gains to 36 straight months.

Total manufacturing shipments rose by 6% to $483.70bn, compared with $455.02bn in November 2011, the data showed. This includes fabricated metal and wood products, furniture, all machinery including computers, transportation and electrical equipment.

Chemicals ranked as the third largest non-durable goods industry in the US in November, behind petroleum and coal products ($75.14bn) and transportation equipment ($65.63bn).

The US Census Bureau separates chemical shipments into four sectors: pesticides and fertilizers; pharmaceuticals; petrochemicals; and chemicals used in paints, coatings and adhesives. Only two sectors showed increases in November.

Besides the gain in petrochemicals, paints, coatings and adhesives continued to rise, increasing by almost 5% with $2.75n in shipments compared with $2.63bn in November 2011.

The value of pesticides and fertilizer shipments continued to plummet, dropping the most of any chemical sector.

Production issues in eastern Europe, the Middle East and the Caribbean have brought declines of 25-50% year on year in each month beginning in April. Shipments in that sector declined to $3.68bn, a drop of 37% compared with $5.86bn in November 2011.

Pesticides and fertilizer shipments fell by 43% in October.

($1 = €0.77)

By: Lane Kelley
+1 713 525 2653

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