German Industry Outperformed a Good 2017

German Industry Outperformed a Good 2017

Author: ChemistryViews.org

The year 2018 saw good developments for the chemical-pharmaceutical industry in Germany, according to the German chemical industry association VCI. The industry’s sales increased by 4.5 % to 204 billion euros, exceeding the 200 billion euro threshold for the first time. Production grew by 2.5 % compared with 2017; chemical prices went up by 2 %.

Pharma production improved by 11.5 % and, thus, had a significant influence on this outcome. The production of fine and specialty chemicals increased by 1.5 %. However, the production of inorganic basic chemicals dropped by 2.5 %, the production of polymers by 2 %, the production of petrochemicals by 2 %, and the production of soaps, detergents and cleaning products or cosmetics by 3 % compared with 2017.

VCI forecasts a modest growth in 2019. If there are no major setbacks, production in the chemical-pharmaceutical industry should increase by 1.5 %, chemical prices should rise by 1.0 %, and in this setting, the industry’s sales are likely to improve by 2.5 %.

Looking at the growing risks in world trade, VCI President Hans Van Bylen emphasizes that the USA and China will only accept an economically strong and politically united Europe as a partner at eye level. Individual European countries alone have no chance of being heard on the world stage. A common European strategy is needed that relies on strengthening the industry, free world trade, and fair competition. Targeted political support is needed in Germany. In particular, to benefit innovation and investments in research and development and to garantee astable and favorably priced energy supplies.


 

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