BRUSSELS, May 2, 2012 – EU chemicals production recorded a 2.2 per cent decrease in the first two months of 2012, according to the latest Cefic Chemicals Trends Report. Monthly data for February 2012 showed a 2.4 per cent decline compared with February the year prior. February 2012 data show that the EU chemicals production level remains 5.3 per cent below the peak in 2007.
See the full report (.pdf) that includes graphs
Prices for chemicals in the European Union increased on a year-on-year basis in February, climbing 4.4 per cent during the month against the comparable month in 2011. The uptick in prices was led again by the overall price increase in basic inorganics. Latest trade data show the EU chemicals trade net trade surplus improved in January 2012 by €0.8 billion compared with January 2011, reaching €4.1 billion.
Cefic Chief Economist Moncef Hadhri said: “EU chemicals production was negatively affected in the first quarter by continued deterioration in the EU business climate and weak macro-economic activity. The sector’s downward growth trend is partly the result of financial turbulence stemming from the European debt crisis and the intensifying fiscal consolidation efforts in most EU member states.”
Year-on-year chemicals output lower in February, but consumer chemicals expands
Consumer chemicals was the only sub-sector to avoid a drop in the February EU chemicals production index, up just 0.7 per cent in February 2012 compared with February 2011. Basic inorganics and specialty chemicals production decreased 5.2 per cent and 4.5 per cent respectively on a year-on-year basis in February. Petrochemicals declined during the month by 3.5 per cent while polymers decreased by 2.6 per cent against the comparable period the year prior.
EU trade surplus improved by €0.8 billion in January 2012
Trade data for January 2012 indicate a €4.1 billion overall EU chemicals net trade surplus. The EU net trade surplus with the Rest of Europe contributed significantly to additional surplus generated in January, reaching €1.1 billion, up €0.3 billion compared with January 2011. EU trade with the NAFTA region resulted in a €1.1 billion net trade surplus in January 2012 as compared with January the previous year. A €0.5 billion surplus occurred with Asia, excluding Japan and China – down €0.4 billion compared with January 2011.
Prices for basic organics climbed by 7.2 per cent in February this year
Year-on-year EU chemicals prices rose in February by 4.4 per cent, driven by the price for basic inorganics, which increased by 7.2 per cent during the period. Prices climbed for consumer chemicals by 1.9 per cent, while pharmaceuticals prices edged down by 1.4 per cent in February as compared with the year prior.
EU sales growth in January 2012 up 5.0 per cent from 2008 pre-crisis period January 2012
EU chemicals sales were 0.2 per cent higher compared with January the year prior. For the whole year 2011, total sales were 10.7 per cent higher as compared with 2010. The overall sales level continues to surpass the pre-crisis peak reached in the beginning of 2008. Compared to full-year sales levels in 2008, the total value of sales in January 2012 was 5.0 per cent higher.
See the full report (.pdf) that includes graphs
Contact information:
To schedule an interview with Cefic Chief Economist Dr. Moncef Hadhri, contact James Pieper, media relations, Cefic, 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.
Notes to editor:
About the Chemicals Trends Report
The Cefic Chemicals Trends summary report is a condensed version of a full report, in slide presentation form, is issued each month to members of Cefic, which includes chemical industry associations and member companies. Both the short summary and full report provide a snapshot of the chemical industry performance in the 27 countries in the European Union and are based on available data released by Eurostat. The scope of the two-page summary report distils Eurostat data into four areas: chemicals production, trade, prices and total sales.
About Cefic
Cefic, the European Chemical Industry Council, is the Brussels-based organisation representing the European chemical industry. Created in 1972, it represents 29,000 companies that produce 21 per cent of the world’s chemicals and employ 1.2 million people. To learn more about Cefic, visit its website at www.cefic.org. ends / all