The French Chemical Industry Association (UIC) recently predicted that production of French chemicals (excluding pharmaceuticals) in 2008 will increase by 2.7% from 2007, which is obviously slower than the growth rate of 4.9% in 2007. However, UIC is still optimistic about the French chemical industry in 2008. Prospects. The association believes that the gradual recovery of the French automobile manufacturing industry in 2008 should be able to compensate for the negative impact on the chemical industry caused by weakness in the construction and infrastructure sectors.
According to UIC, in 2007, the French chemical industry still achieved very good results under the influence of multiple factors including the weak US economy, strong euro performance, and a significant rise in raw material costs. The main driver of the French chemical industry in 2007 came from strong growth in the consumption of household chemicals. According to UIC, in 2007, French chemical exports increased by 2.8% year-on-year, while imports increased by 7.9% year-on-year, which led to the reduction of the French chemical trade surplus from 8 billion euros in 2006 to 6.4 billion euros in 2007.
According to UIC, in 2007, the French chemical industry still achieved very good results under the influence of multiple factors including the weak US economy, strong euro performance, and a significant rise in raw material costs. The main driver of the French chemical industry in 2007 came from strong growth in the consumption of household chemicals. According to UIC, in 2007, French chemical exports increased by 2.8% year-on-year, while imports increased by 7.9% year-on-year, which led to the reduction of the French chemical trade surplus from 8 billion euros in 2006 to 6.4 billion euros in 2007.
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