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According to the latest data released by CEFIC, from January to August, the EU’s total chemical production increased by 12.8% year-on-year, and the price rose by 4.9% year-on-year, of which the chemical price in August rose by 5.8% year-on-year. From January to May, the EU’s monthly production indicators continued to rise, and declined from June to August.
Chief Economist of CEFIC stated that due to strong demand for specialty chemicals from Asian emerging economies, non-EU member states and Latin America, the EU’s trade surplus with non-EU countries totaled 28 billion euros in the first 7 months of this year, an increase of 3 billion In Euro, total sales increased by 17.7% year-on-year.
EU chemical production growth 9.4%
According to the data released by the European Chemical Industry Council (CEFIC) on October 27, the EU’s chemical production in August increased by 9.4% year-on-year, which was down from the 14.3% growth in July.