The German Chemical Industry Association (VCI) recently stated that in the fourth quarter of 2009, German chemical production increased by 5.3% compared to the third quarter, an increase of 4.1% compared to the fourth quarter of 2008. Sales revenue reached 36.5 billion Euros, an increase of 4.2% from the third quarter and a slight decline of 0.3% from the fourth quarter of 2008.
VCI also said that in the fourth quarter of 2009, the German chemical industry producer price index rose 0.7% from the third quarter, but fell 2.9% from the fourth quarter of 2008. For 2010, VCI maintained its previous forecast that chemical production increased by 5% year-on-year, and sales revenue increased by 6% year-on-year.
Uzi Tilman, head of VCI, said that the recovery of the chemical industry will continue but the pace of recovery will be slow. He pointed out that export growth is the main driving force for the recovery of the German chemical industry, and demand from Asia, South America and Eastern Europe is expected to increase further in the coming months. However, the growth momentum of the EU market is relatively small. VCI stated that, overall, the German chemical industry will not experience a setback in the next six months. However, VCI stated that the data for the fourth quarter of last year was compared with the fourth quarter of 2008, when the market was extremely weak. If compared with the level before the crisis, the German chemical production in the fourth quarter of last year still fell by 7%. The utilization rate of the German chemical industry in the quarter was 77.9%, which is still a lot lower than the normal level of 82%.
VCI also said that in the fourth quarter of 2009, the German chemical industry producer price index rose 0.7% from the third quarter, but fell 2.9% from the fourth quarter of 2008. For 2010, VCI maintained its previous forecast that chemical production increased by 5% year-on-year, and sales revenue increased by 6% year-on-year.
Uzi Tilman, head of VCI, said that the recovery of the chemical industry will continue but the pace of recovery will be slow. He pointed out that export growth is the main driving force for the recovery of the German chemical industry, and demand from Asia, South America and Eastern Europe is expected to increase further in the coming months. However, the growth momentum of the EU market is relatively small. VCI stated that, overall, the German chemical industry will not experience a setback in the next six months. However, VCI stated that the data for the fourth quarter of last year was compared with the fourth quarter of 2008, when the market was extremely weak. If compared with the level before the crisis, the German chemical production in the fourth quarter of last year still fell by 7%. The utilization rate of the German chemical industry in the quarter was 77.9%, which is still a lot lower than the normal level of 82%.
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