Dec 2013 EU PET exports soar by 75% year on year – Eurostat

19 February 2014 14:51 Source:ICIS News

LONDON (ICIS)--EU polyethylene terephthalate (PET) primary form exports soared by 75% year on year in December 2013, data from European statistics agency Eurostat showed this week.

December 2013 exports amounted to 10,102 tonnes, compared with 5,781 tonnes in December 2012.

Over the full year, exports were up by only 4%, with 95,881 tonnes in 2013, compared with 92,483 tonnes in 2012.

The PET 2013 market became a battlefield and the economic downturn led to insolvency procedures, idled capacity and more focus on speciality PET, as the market awaited the introduction of new PET plants in the UKBelgiumTurkey and Egypt, that will total over 1m tonnes in nameplate capacity.

Imports also increased by 31% over the full year, with 666,702 tonnes coming in during 2013 and 509,070 tonnes in 2012.

December 2013 imports amounted to 63,267 tonnes, compared with 58,788 tonnes in December 2012, a rise of 8% year on year.

Eurostat import/export data is subject to revision as more detailed information becomes available.

EU PET (primary forms) Import and export data by Eurostat (units: tonnes)

Period

Import

Export

December 2012

58,788

5,781

December 2013

63,267

10,102

Change year on year (%)

8

75

Full year 2012

509,070

92,483

Full year 2013

666,702

95,881

Change year on year (%)

31

4

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By Caroline Murray