 "European chemical industry reports stagnant growth in 2015")
European chemical industry output grew just 0.3 per cent during the first four months of 2015 compared to the same period of 2014, while producer prices fell 6.0 per cent, year-on-year, according to Cefic, the European Chemical Industry Council. As per the latest Cefic Chemicals Trends Report, sales were down 5.2 per cent during the first quarter of 2015, compared to the same period of 2014.
Latest monthly data show output growth of 0.7 per cent in April 2015 compared with April 2014, while EU chemicals prices plunged 4.9 per cent. Confidence in chemicals increased in May 2015 compared to April of the same year. Production expectations for the months ahead contributed largely to this improvement. The EU net trade surplus narrowed to Euro 9.9 billion during the first quarter of 2015, down by Euro 1.3 billion compared to the same period one year ago.
Hubert Mandery, director general, Cefic, said, “These figures show that the real economy is still not growing. In Europe, we need EU policymakers to start walking their talk on competitiveness, jobs and growth."
Petrochemicals output continued to slide in April 2015, down a significant 4.8 per cent compared with April 2014. The drop was partially offset by 4.0 per cent growth in output of specialty chemicals. Basic inorganics output and consumer chemicals each grew by 1.4 per cent in April. Polymers grew modestly by 0.7 per cent in April 2015 compared to April 2014. Overall, EU chemicals output crept ahead – just 0.7 per cent in April 2015 year-on-year – and for the first four months was up just 0.3 per cent compared to same period of 2014. EU chemicals output growth was relatively flat during January-April 2015 year-on-year. However, there was significant output growth of 1.6 per cent during January-April 2015 compared to September-December of 2014. This is also in line with the improvements in European manufacturing growth during the first quarter of 2015.
Petrochemicals prices declined by 13.3 per cent in April 2015 compared to the same month of 2014. Plastics prices dropped by 3.8 per cent in April 2015 compared to same month one year ago. Consumer chemicals prices however recorded a modest increase of 0.3 per cent during the same month. All in all, producer prices in the EU chemicals sector declined by 4.9 per cent in April 2015 (year-on-year). Last but not least, chemicals prices were down by 6.0 per cent during the first fourth months of 2015 compared to the same period one year ago.
Total EU chemical sales dropped 5.2 per cent during the first quarter of 2015 compared to the same period one year ago. Sales in March 2015 grew by 1 per cent compared to February of the same year. This is the first increase in sales after five consecutive declines (month-on-month).
The EU net trade surplus narrowed to Euro 9.9 billion during the first quarter of 2015, down by Euro 1.3 billion compared to the same period one year ago. The net positive trade balance through March 2015 with non-EU countries – a group including Russia, Turkey and Switzerland – was Euro 2.0 billion, Euro 0.6 billion lower than in the first quarter of 2014. Underlying this figure was a sharp fall in net exports to Russia, an important EU chemicals trading partner.
Net exports plunged significantly year on year, as exports to Russia fell 15.4 per cent, or Euro 349 million, and imports jumped by 7.6 per cent, or Euro 148 million. Meanwhile the EU chemicals trade surplus with Asia – excluding Japan and China – remained relatively unchanged. But the EU’s net chemicals trade surplus with China contracted by Euro 671 million. And the United States further narrowed its chemicals trade deficit with the European Union by Euro 75 million to Euro 1.5 billion during the first quarter of 2015.
Latest monthly data show output growth of 0.7 per cent in April 2015 compared with April 2014, while EU chemicals prices plunged 4.9 per cent. Confidence in chemicals increased in May 2015 compared to April of the same year. Production expectations for the months ahead contributed largely to this improvement. The EU net trade surplus narrowed to Euro 9.9 billion during the first quarter of 2015, down by Euro 1.3 billion compared to the same period one year ago.
Hubert Mandery, director general, Cefic, said, “These figures show that the real economy is still not growing. In Europe, we need EU policymakers to start walking their talk on competitiveness, jobs and growth."
Petrochemicals output continued to slide in April 2015, down a significant 4.8 per cent compared with April 2014. The drop was partially offset by 4.0 per cent growth in output of specialty chemicals. Basic inorganics output and consumer chemicals each grew by 1.4 per cent in April. Polymers grew modestly by 0.7 per cent in April 2015 compared to April 2014. Overall, EU chemicals output crept ahead – just 0.7 per cent in April 2015 year-on-year – and for the first four months was up just 0.3 per cent compared to same period of 2014. EU chemicals output growth was relatively flat during January-April 2015 year-on-year. However, there was significant output growth of 1.6 per cent during January-April 2015 compared to September-December of 2014. This is also in line with the improvements in European manufacturing growth during the first quarter of 2015.
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Petrochemicals prices declined by 13.3 per cent in April 2015 compared to the same month of 2014. Plastics prices dropped by 3.8 per cent in April 2015 compared to same month one year ago. Consumer chemicals prices however recorded a modest increase of 0.3 per cent during the same month. All in all, producer prices in the EU chemicals sector declined by 4.9 per cent in April 2015 (year-on-year). Last but not least, chemicals prices were down by 6.0 per cent during the first fourth months of 2015 compared to the same period one year ago.
Total EU chemical sales dropped 5.2 per cent during the first quarter of 2015 compared to the same period one year ago. Sales in March 2015 grew by 1 per cent compared to February of the same year. This is the first increase in sales after five consecutive declines (month-on-month).
The EU net trade surplus narrowed to Euro 9.9 billion during the first quarter of 2015, down by Euro 1.3 billion compared to the same period one year ago. The net positive trade balance through March 2015 with non-EU countries – a group including Russia, Turkey and Switzerland – was Euro 2.0 billion, Euro 0.6 billion lower than in the first quarter of 2014. Underlying this figure was a sharp fall in net exports to Russia, an important EU chemicals trading partner.
Net exports plunged significantly year on year, as exports to Russia fell 15.4 per cent, or Euro 349 million, and imports jumped by 7.6 per cent, or Euro 148 million. Meanwhile the EU chemicals trade surplus with Asia – excluding Japan and China – remained relatively unchanged. But the EU’s net chemicals trade surplus with China contracted by Euro 671 million. And the United States further narrowed its chemicals trade deficit with the European Union by Euro 75 million to Euro 1.5 billion during the first quarter of 2015.