German chemical industry reports upturn

19th November 2004, Comments 0 comments

19 November 2004, FRANKFURT - Germany's chemical industry said on Friday it is showing stronger business results amid the upturn in the global economy, with production in the third quarter up 5.1 percent on the same period of 2003. The Chemical Industry Association (VCI) in Frankfurt said business in the quarter had been better than expected, with turnover in the quarter, at EUR 35.6 billion, 7 percent higher than in the third quarter of last year. "The worldwide recovery has reached the German chemical bu

19 November 2004

FRANKFURT - Germany's chemical industry said on Friday it is showing stronger business results amid the upturn in the global economy, with production in the third quarter up 5.1 percent on the same period of 2003.

The Chemical Industry Association (VCI) in Frankfurt said business in the quarter had been better than expected, with turnover in the quarter, at EUR 35.6 billion, 7 percent higher than in the third quarter of last year.

"The worldwide recovery has reached the German chemical business," the VCI said. Besides foreign demand, the domestic German economy is now also helping to contribute to the chemical industry's business.

In the third quarter turnover, foreign business accounted for EUR 18.7 billion, up 11 percent from the same 2003 period. Domestic turnover, at EUR 16.9 billion, was up 3 percent.

For the full year, the VCI now expects German chemical production to show a rise of 1.0 to 1.5 percent.

The VCI said German chemical firms expect business to keep rising in the final quarter of 2004, although high oil prices were a risk factor. A further risk is in the high value of the euro which could hurt German chemical exports.

For the full year, the VCI now expects German chemical production to show a rise of 1.0 to 1.5 percent.

DPA

Subject: German news

 

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