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A few days ago, the German Chemical Industry Association (VCI) stated that the German chemical and pharmaceutical industry rebounded in the third quarter after the new crown pneumonia epidemic in the first half of the year, with production and sales increasing by 1.
9% and 2.
8% respectively.
Compared with the previous quarter, producer prices also rose slightly by 0.
5%, and the number of employees in the industry remained stable at about 464,000, but lower than the same period last year.
In the third quarter of Germany, chemical and pharmaceutical production fell by 1.
7% year-on-year, but compared with the previous quarter, driven by increased demand, chemical production increased by 4.
9%.
VCI said that the average capacity utilization rate is rising, from 77.
5% to 81.
6%, so the operating rate in the third quarter has almost returned to normal.
Sales of the chemical industry increased by 2.
8% month-on-month to 43.
8 billion euros (approximately US$51.
6 billion), and sales to domestic and foreign markets increased by 3.
5% and 2.
5%, respectively.
Customer sales fell by 8% year-on-year, and overall sales fell by 7.
5% year-on-year.
VCI said that the decline in oil prices and the new crown pneumonia epidemic have led to weak demand, and the sales prices of German chemical companies in the third quarter fell by 2.
6% year-on-year.
Crude oil prices have risen by about 36%, but have fallen by nearly 30% compared to the same period last year.
The price of naphtha has also risen by 50%, but has fallen by 25% year-on-year.
VCI pointed out that the global economic crisis is far from over.
With the increase in the number of people infected in the second wave of the epidemic, the optimism of the chemical industry has been replaced by worries about the future.
In 2020, the output of the chemical and pharmaceutical industry will drop by 3%.
The German chemical and pharmaceutical industry will face difficulties in the fourth quarter.
The new crown pneumonia epidemic will threaten the recovery of the industry.
9% and 2.
8% respectively.
Compared with the previous quarter, producer prices also rose slightly by 0.
5%, and the number of employees in the industry remained stable at about 464,000, but lower than the same period last year.
In the third quarter of Germany, chemical and pharmaceutical production fell by 1.
7% year-on-year, but compared with the previous quarter, driven by increased demand, chemical production increased by 4.
9%.
VCI said that the average capacity utilization rate is rising, from 77.
5% to 81.
6%, so the operating rate in the third quarter has almost returned to normal.
Sales of the chemical industry increased by 2.
8% month-on-month to 43.
8 billion euros (approximately US$51.
6 billion), and sales to domestic and foreign markets increased by 3.
5% and 2.
5%, respectively.
Customer sales fell by 8% year-on-year, and overall sales fell by 7.
5% year-on-year.
VCI said that the decline in oil prices and the new crown pneumonia epidemic have led to weak demand, and the sales prices of German chemical companies in the third quarter fell by 2.
6% year-on-year.
Crude oil prices have risen by about 36%, but have fallen by nearly 30% compared to the same period last year.
The price of naphtha has also risen by 50%, but has fallen by 25% year-on-year.
VCI pointed out that the global economic crisis is far from over.
With the increase in the number of people infected in the second wave of the epidemic, the optimism of the chemical industry has been replaced by worries about the future.
In 2020, the output of the chemical and pharmaceutical industry will drop by 3%.
The German chemical and pharmaceutical industry will face difficulties in the fourth quarter.
The new crown pneumonia epidemic will threaten the recovery of the industry.
