EU chemical production remains stagnant on the year: Cefic
The region’s petrochemical output, meanwhile, decreased 4.8% in April compared with the same month of the previous year. Output for specialty chemicals increased 4%. Production for basic inorganics and consumer chemicals grew by 1.4% from a year earlier while polymers output increased 0.7% on a yearly basis.
According to the data, the EU’s net trade surplus declined to €9.9 billion ($10.9 billion) in the first quarter, down by €1.3 billion ($1.43 billion) compared to the same period of 2014. The region’s trade surplus with Asia– excluding Japan and China – remained unchanged while the EU’s net chemicals trade surplus with China contracted to €671 million ($740.3 million) in January-March period.
Cefic also reported that an EU chemical industry confidence indicator (CCI) increased in May compared to the previous month due to better production expectation in the following months.
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