Germany's chemical industry suffers setbacks in Q4 2018
March 13, 2019 / Xinhuanet
Chemical production in Germany declined by 10 percent and has ended in "very weak fourth quarter", the German chemical industry association (VCI) announced on Tuesday. The falling demand for chemicals from industrial customers in Europe had forced German chemical companies to make major production cuts. Total revenues of Germany's chemical industry fell by 3.1 percent in 2018, according to VCI. "The demand for chemical products in the German and European industry is on the decline. Moreover, Brexit acts as a brake on the economy," VCI director-general Utz Tillmann stated. Prices for German chemical and pharmaceutical products continued to climb from October to December last year, exceeding the previous quarter's level by 0.4 percent and the level of the previous year by 2.7 percent. However, the rising prices "did not offset" the negative developments, "so that sales fell", VCI announced.