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Recently, the German Chemical Industry Association (VCI) stated that due to the impact of the Russian-Ukrainian conflict and its unpredictable consequences combined with the impact of the new crown pneumonia epidemic, it is difficult for the agency to provide forecasts for the development of the German chemical industry.
Provides quantitative forecasts
.
In January, the agency said it expected German production of chemicals, excluding pharmaceuticals, to rise 1.
5 percent this year
.
However, the agency withdrew its previously issued outlook in March
.
Christian Kuhlmann, President of VCI and Chairman of Evonik Industries, said: “After the severe winter, the upward momentum in expectations has been wiped out
.
The outlook for the German chemical industry is getting bleak due to rising energy and raw material costs
.
In addition, due to supply Chain disruptions, our industrial customers are cutting production and chemical orderings are declining
.
A gas embargo in Russia or a stoppage of gas supplies would have further catastrophic effects
.
" Struggling with sharply rising costs, Germany's chemical and pharmaceutical industries performed "satisfactorily" in the first quarter
.
In the first quarter, production in the chemical and pharmaceutical industries in Germany increased by 2.
8% year-on-year and 1.
3% month-on-month, while production excluding pharmaceuticals was down 1.
6% year-on-year and 1.
1% month-on-month
.
Total sales in the first quarter rose 28.
4% year-on-year and 7.
8% sequentially to 66.
3 billion euros ($71 billion), mainly due to sharp price increases, VCI said
.
According to statistics, chemical prices rose 21.
6% year-on-year in the first quarter and 6.
7% compared to the fourth quarter of 2021
.
The VCI said that German chemical plant capacity utilization fell again, below the "normal" range at 80.
9%
.
Capacity utilization in the fourth quarter of 2021 was 81.
5%
.
The VCI said that the number of employees in the German chemical and pharmaceutical industry remained stable at about 473,200 people, unaffected by the various challenges facing the industry
.
