04 October 2013 12:34 [Source: ICIS news]
MUNICH (ICIS)--Europe’s chemical export surplus this year is on track to beat the record €49bn ($67bn) level recorded in 2012, trade body European Chemical Industry Council (Cefic) said on Friday.
EU net chemical exports for the first six months of the year are up 5% compared to the same period in 2012, Cefic said, with the surplus buoyed by a faster drop in imports compared to flat export growth.
However, the body added that the competitiveness of the region’s chemicals industry remains under threat from the shale gas boom in North America, and higher growth levels in developing markets.
EU outputs remain below pre-crisis levels, Cefic added, stating that under 20% of global chemicals sales are attributable to the EU, compared to almost 30% a decade ago.
Speaking at Cefic’s general assembly in Munich, Germany, council president Kurt Bock called for EU policymakers to focus on developing an industrial policy that fosters innovation, and for a departure from unilateral climate policies.
He said: “Europe has a great track record of high-value added chemistry, so it is crucial to have policies that enable us to keep our world-class position. We see great potential in the EU-US trade and investment agreement."
($1 = €0.73)
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