Chemicals Trends Report - Cefic

Embargoed for release: Friday, February 24, 2012, at 12 noon CEST (Brussels)
Chemicals Trends Report
Monthly short summary, February 2012
EUROPEAN CHEMICAL INDUSTRY COUNCIL
EU chemicals sector posts full-year 1.1 per cent growth in 2011
December monthly production data show fourth monthly decline last year
BRUSSELS, February 24, 2012 – EU chemicals production recorded a 1.1 per cent increase in 2011 compared to
2010, according to the latest Cefic Chemicals Trends Report. The monthly data for December 2011 showed a
1.8 per cent decline compared with December 2010, a significant drop in EU chemicals industry production
after an impressive performance by the sector during the first quarter of 2011.
The level of EU chemicals production in December 2011 was 4.3 per cent below its 2007 peak. Data also show a
year-on-year price increase in December, up 6.2 per cent for the month against the comparable period in 2010
and led again by an overall price increase in basic inorganics. The EU chemicals sector net trade surplus reached
€39.3 billion through November, off by €2.6 billion when compared with the same 11-month period in 2010.
December 2011 chemicals output
lower compared with December 2010
The EU production index for December
2011 was down 1.8 per cent compared
with December 2010. Consumer
chemicals production climbed, however,
by 6.4 per cent on a year-on-year basis
in December 2011. Polymers and
petrochemicals production were down
by 7.5 per cent and 6.7 per cent
respectively during the month, while
specialty chemicals production and basic
inorganics fell by 1.5 per cent each.
EU trade surplus reached €39.3 billion through November
The EU net trade surplus with the Rest of
Europe in the first 11 months of 2011
reached €12.1 billion, more than 30 per
cent of the overall trade surplus for the
EU chemicals sector. The overall EU
chemicals net trade surplus reached
€39.3 billion from January to November
2011, down €2.6 billion compared with
the comparable period in 2010. The EU-
27 posted a €10.4 billion net trade
surplus with the NAFTA region during
the 11-month period and a €5.5 billion
surplus with Asia, excluding Japan and
China. The European Union ran a €2.4
billion net trade deficit for chemicals
with China during the same period.
Prices for basic organics, continue climb
Basic inorganics prices climbed 10.7 per cent year-on-year during December. Prices for petrochemicals
increased by 4.9 per cent, while consumer chemicals prices continued to increase modestly, up 2.8 per cent
year-on-year in December.
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EU chemicals sector posts full-year 1.1 per cent growth in 2011…add one
November 2011 chemicals sales up
compared with November 2010
November 2011 chemicals sales were 1.3
per cent higher compared with November
the year prior. For the first eleven months
of 2011, total sales were 11.5 per cent
higher as compared to the same period in
2010. The overall sales level continues to
surpass the pre-crisis peak reached in the
beginning of 2008. Sales values during the
period from January to November 2011
were 4.1 per cent higher compared to the
same period in 2008.
Economic sentiment increases in both the EU and euro area (excerpt)
In January, the Economic Sentiment Indicator (ESI) rose
by 1.2 points in the EU and by 0.6 points in the euro
area, to 92.8 and 93.4, respectively – the first pick-up in
sentiment since March 2011. The improvement was
mainly driven by increasing confidence in the services
sector and - to a lesser extent - among consumers and in
the construction sector. The ESI is above its long-term
average only in Germany. According to the quarterly
survey of the manufacturing sector, capacity utilization
increased marginally. At 80.2% in the EU and 79.9% in
the euro area, capacity utilization still remains below its
long-term average.
Ifo World Economic Climate brightens slightly (excerpt)
According to the results from first quarter 2012, the Ifo
World Economic Climate Indicator showed a slight
upturn in the first quarter of 2012 after two successive
decreases, but remains significantly below its long-term
average. The improvement was entirely driven by a
slightly more optimistic six-month outlook. Appraisals of
the current situation, on the other hand, were poorer
than in last quarter’s survey. The survey results confirm
that the situation of the world economy remains
difficult. The economic climate in Asia points to an
economic slowdown. Significantly poorer appraisals of
the current situation pushed the climate indicator
further below its long-term average. Positive signs,
however, came from North America, and especially from the USA, where a clear improvement was seen,
especially in the current economic situation.
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, 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.
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