German Chemical Sector Posts Modest Growth
The German chemical sector reported mixed results in the first half 2015. Despite an increase in production, total sales grew by only 0.5 percent to 96.5 billion euros due to falling prices.
Within Germany, demand for chemical products fell by 1.5 percent to 37.4 billion euros. At the same time, the euro’s devaluation stimulated exports, which grew by 2.5 percent to 59.1 billion euros. Especially deliveries to NAFTA countries rose strongly by 12 percent. Similarly, sales to Latin America and Asia reached a significant high by 15.5 percent and 10 percent respectively. Only sales to Western Europe fell by 0.5 percent during the first half year 2015.
Chemical companies continued to increase their staff in the first six months of 2015. Compared with 2014, the number of people employed in the German chemical industry rose by 1 percent to 447,000 persons.