In the latest released EU Commission Business Survey data, the overall chemical business situation at present became more favourable in the third quarter of 2017 compared to the previous quarter of the same year. However, prospects for the coming months and total order-book levels of chemicals were less positive. All in all, the chemicals business climate remained satisfactory, improving slightly in Q3-2017. The data reveals that the chemicals confidence is still above the long-term average.

Chemicals output is up by 3.3% during first seven months of 2017 (y-o-y). Production in the EU chemicals sector grew 3.3% from January to July 2017 compared to the same period of 2016. Output rose in most chemicals sub-sectors. Production in crop protection, basic inorganics, dyes and pigments, polymers, and consumer chemicals increased significantly. Less market output growth for specialty chemicals was recorded. Chemicals output is still (2.3%) below the first quarter of 2008

Producer prices in the EU chemicals sector grew 5.4% from January to July 2017 compared to the same period of 2016. Most chemicals sectors posted growth on prices. Petrochemicals saw strong price changes. Dyes and pigments and polymers recorded less appreciable growth.

Larger production volumes and a positive trend of producer prices brought a clear rise in sales. Domestic sales developed favourably from January to June 2017. Sales revenue generated by EU companies in the EU single market reached the value of €183.6 billion through June 2017. This represents an additional revenue of €14.0 billion and a growth of 8.3% y-o-y.

Chemicals consumption (domestic sales + imports) in the EU home market developed positively from January to June 2017. Consumption went up by 7.7%, generating a value of €237.8 billion, up from €220.7 billion through June 2016.

EU chemicals exports reached the value of €79.7 billion in the first half of 2017. They went up by 6.2 billion in the first six months of 2017, compared to the same period one year ago (+8.5 per cent). EU chemicals exports to the non-EU area accounted for 30 per cent of total chemicals sales during the first half of 2017

Chemicals imports were valued at €54.3 billion from January to June 2017, going up by 3.1 billion in the first half of 2017 compared to the same period one year ago (+6.1 per cent). The net trade surplus was €25.4 billion during first six months of 2017. Overall, the EU chemicals surplus expanded by €3.1 billion through June 2017.