In the 4th quarter 2012 the chemical production grew by 0.8 % against the previous quarter and 0.4 % against the 4th quarter 2011. All sectors developed positively, except for specialty chemicals. According to the association Verband der Chemischen Industrie (VCI) in its most recent quarterly report, this tendency should last in the present year.
The VCI is expecting chemical production to increase by 1.5 % in 2013. Prices are likely to rise by 0.5 % so that chemical industry sales should climb by some 2 % to an estimated 190 billion euros. However, economic dynamics are likely to be impaired by the debt crisis also in 2013 – even though stabilization trends are already emerging in many European neighbouring countries.
From October to December 2012 the prices of chemical products were 0.6 % higher than in the previous quarter and 2 % higher than in the 4th quarter 2011.
In a comparison with the 3rd quarter 2012, chemical industry sales went up by 1.8 % to 43.2 billion euros. Sales of the 4th quarter 2011 were exceeded by 3.8 %. The renewed demand for chemical products was mainly attributable to foreign business.
437,000 persons were working the German chemical industry in the 4th quarter 2012, reflecting an employment increase by 2 % over the previous year.
Image: Chemical Production in Germany © VCI
Index 2005 = 100, seasonally adjusted, changes to previous year in %
- Verband der Chemischen Industrie e. V. (VCI; German chemical industry association)