The 1st quarter looks encouraging for the chemical-pharmaceutical industry in Germany, according to the latest report by the VCI. Production increased by 2.1 % against the previous quarter and by 1.1 % over the 1st quarter 2016. Capacity utilization of plants reached a peak value and climbed to 87.7 %.
Larger production volumes and the persistent upward trend of producer prices (+ 2.2 % against the previous quarter) brought a clear rise in sales. For the first time in four years, producer prices were above the previous year’s level also in a twelve-month comparison (+2.8 %).
Sales improved by 3.5 % to 47 billion EUR against the previous quarter. Sales at home in Germany as well as to Asia and North America remained on the growth.
The number of jobs in the German chemical industry grew in the 1st quarter by 0.5 % over the previous year to 449,300 staff in industry.
The VCI expects chemical production to increase by 1 % in 2017. In combination with a 2.5 % rise in chemical prices, the industry’s sales should improve by 3.5 % to 191.2 billion euros.
- German Chemical Industry Association (VCI; Verband der Chemischen Industrie), Frankfurt, Germany