As a historically important player in the global chemicals market, the EU chemical industry continues to benefit from trade opportunities. The industry registered more than simply a solid recovery in after the economic crisis. Asia, excluding Japan and China, accounted for Compared with , the contribution to total trade activity from the rest of Europe, NAFTA and Japan declined, while the total contribution by China and the rest of Asia increased. However, the Trade Competitiveness Indicator TCI , an indicator that compares the trade balance to total trade activity of a region reveals deteriorating competitiveness of the overall EU chemical industry.
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The report gives the newest full-year data available and analyzes the long-term development. Despite the increase, the world chemicals market has expanded faster during the last two decades than in the EU, leading to a further decrease in the EU share of global chemicals output, standing at China clearly holds the top spot in world chemicals production, with sales in Asia dwarfing other regions.
This marks a significant recovery of the chemical industry compared with the previous years. Global sales went up by Within the decade from to world chemicals sales increased by 2. During the past ten years the EU gradually lost its top spot in world chemicals sales to China and the rest of Asia excluding Japan , although the total value of sales in the European Union has actually been continuously growing.
China reached However, world chemicals sales have increased at a much faster pace. As a consequence, the EU chemicals market share has halved from to Fig. Together these four countries generated The share rises to nearly The other 19 EU countries generated Despite losing the top spot in world chemicals production, the EU chemical industry still holds the world top ranking in total trade.
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International Chemical Trade (2012 Data)