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Emirates News Agency – EU sells chemical production to reach €769 billion in…

by Dubai Forum
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BRUSSELS, 24 September 2022 (WAM) — Between 2011 and 2021, the total production of chemicals sold in the EU will reach €769 billion in 2021, following a rapid growth in 2019 reached a peak of €232 billion in value terms. According to Eurostat, the European Union’s statistical office, in 2020 he will go from €626 billion to €768 billion.

During the same decade, production sold increased in all groups. The largest increase, both in absolute and relative terms, is in medical products, rising from €116 billion in 2011 to €211 billion in 2021, corresponding to an average annual growth rate of 6.1%. Organic chemicals (1.1%) had the lowest growth rate, while chemical materials and products (6.0%) had his second highest growth rate.

Over the past decade, EU chemicals exports have significantly outpaced imports, rising from €266 billion in 2011 to €459 billion in 2021, with an average annual export growth rate of 5.6%. Among EU member states, Germany will be her largest exporter of chemicals outside the EU in 2021 (€121 billion). This was also the case last year. Germany’s share of total EU chemical exports is 26%, followed by Belgium (15% share of total EU exports, EUR 67 billion), Ireland (12%, EUR 56 billion), France (10%, EUR 48 billion). euro), followed by the Netherlands. (9%; EUR 42 billion).

The US, Switzerland, UK and China were the EU’s four largest partners for imports and exports of chemicals in 2021.

The United States was the leading export destination for EU chemicals outside the EU (€115bn), followed by the United Kingdom (€46bn), Switzerland (€40bn), China (€33bn) and Russia (€20bn). . .

Over the decade, chemical imports into the EU increased from €172 billion (2011) to €271 billion (2021), with imports increasing every year except 2013 and 2020. The average annual growth rate of imports over the decade was 4.7%.

In 2011, the largest subgroup of chemical imports was medical and pharmaceuticals, at €59 billion, rising to €100 billion in 2021. The average annual growth rate he is 5.4%. The primary form of plastics had the same growth rate, while chemical materials and products (6.0%) grew fastest during the period.

DF

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