September monthly production data show second monthly decline this year
BRUSSELS, December 14, 2011 – EU chemicals production recorded a 2.3 per cent increase in the first nine months of the year, according to the latest Cefic Chemicals Trends Report. The monthly data for September showed a 0.5 per cent decline compared with September 2010, a modest downturn in EU chemicals industry production after an impressive first quarter 2011 and modest year-on-year monthly growth in July and August.
See the full December Chemicals Trends Report
The year-to-date level of production through September 2011 indicates that EU chemicals production is 3.6 per cent below its 2007 peak. Data also show a near double-digit, year-on-year price increase in September, led again by an overall price increase in petrochemicals, up 13 per cent for the month compared with the year prior. The EU chemicals sector net trade surplus reached €27.7 billion through August, off by €3.3 billion when compared with the same eight-month period in 2010.
Cefic Chief Economist Moncef Hadhri said: “On a year-on-year basis for quarterly growth, the pace of EU chemicals industry output decelerated from 5.4 per cent growth in the first quarter 2011 to 0.2 per cent in the third quarter. The current production trend of the EU chemicals industry is in line with the current world economic climate, where overall confidence has worsened.”
September 2011 chemicals output down compared with September 2011
The EU production index for September was down 0.5 per cent compared with September the year prior. Consumer chemicals jumped 6.7 per cent year-on-year in September. Basic inorganics production rose by 2.3 per cent in September compared with the year prior, while polymers output edged up by 0.1 per cent. Specialty chemicals and petrochemicals output fell by 5 per cent and 2.8 per cent respectively during the month as compared to the previous year.
EU trade surplus through August buoyed by Rest of Europe exports
The EU net trade surplus with the Rest of Europe in the first eight months of 2011 reached €8.4 billion, more than 30 per cent of the overall trade surplus for the EU chemicals sector. The overall year-to-date EU chemicals net trade surplus reached €27.7 billion, down €3.3 billion compared with the same period in 2010. The EU-27 posted a €7.3 billion net trade surplus with the NAFTA region and a €4.1 billion surplus with Asia, excluding Japan and China. The EU sector ran a €1.8 billion net trade deficit with China.
Prices for petrochemicals, basic organics, continue climb
Petrochemicals prices climbed 13 per cent year-on-year during September. Basic inorganics increased by the same rate as petrochemicals while consumer chemicals prices continued to increase modestly, up 3.1 per cent year-on-year in September.
To schedule an interview with Cefic Chief Economist Dr. Moncef Hadhri, contact James Pieper, media relations, on +32 2 676 73 98 or via email at jpi@cefic.be.
For details of the report, e-mail Dr Hadhri directly at mha@cefic.be or call him on +32 2 676 72 82.
Those who are not media or members of Cefic, please contact Cefic Director of Business Development Dr. Fabrice Tabankia on +32 2 676 72 95 or at fta@cefic.be.
See the full Chemicals Trends Report for December
Notes to editor:
Cefic Facts & Figures - now available
Cefic released this week its annual Facts & Figures report that provides an analysis of the latest competitive trends in the European chemicals industry. The document provides more than 50 pages of the most up-to-date information based on currently available data about the sector, which produces 212 per cent of the world’s chemicals, employs 1.2 million workers and contributes €491 billion to the EU economy. Cefic Facts & Figures is a much-anticipated publication released each year and is considered an important chemicals industry reference document used primarily by industry analysts, researchers, policymakers and chemicals companies. The EU chemicals industry is one of the European Union’s most international, competitive and successful industries, connected to a wide field of processing and manufacturing activities. The output of the chemicals industry, which includes all 27 EU member states, covers a wide range of chemical products and supplies virtually all sectors of the economy. The industry also provides a significant contribution to EU net exports.
To see the online version, go to http://www.cefic.org/Facts-and-Figures/.