German Chemical Industry Rebounds from Corona in a Big Way
EUR 111 billion in turnover and a 12 percent rise compared with a year ago – those are the record-setting figures published by the Association of the Chemicals Industry (VCI) for the first half of 2021.
And the outlook for the rest of this year is equally good, if not better.
“For the second time after 2018, our industry will break through the EUR 200 billion mark, significantly exceed levels before the corona crisis and set a new turnover record,” VCI President Christian Kullmann announced.
Production capacity is currently around 86 percent. The industry’s comeback is being driven by an increase in business with China and the economic recoveries in the United States and Europe. The VCI predicts that material investments in the sector will increase this year from EUR 8.4 to EUR 9 billion.
© GettyImages/Kittikorn Nimitpara
Leave a ReplyWant to join the discussion?
Feel free to contribute!