BERLIN, March 12 (Xinhua) -- Business in the German chemical and pharmaceutical industry "temporarily improved somewhat" in the fourth quarter (Q4) in 2019, the German chemical industry association (VCI) announced on Thursday.
During the period, sales in the German chemical industry went up by 0.8 percent to 45.4 billion euros (50.6 billion U.S. dollars) compared to the previous quarter, according to the VCI.
"The slight growth was far from enough to make up for the decline of previous quarters," the VCI noted. "German industry remains in recession, and the demand for chemicals is subdued."
"Irrespective of the weak position of the overall industrial economy," domestic sales rose by 0.7 percent. On the other hand, international business increased slightly more by 0.9 percent, according to the association.
However, the VCI noted that the industry's sales "clearly fell short" of the previous year's level and declined by 2.7 percent year-on-year.
Chemical production in Q4 rose by 1.6 percent over the previous quarter but fell by 2 percent compared to the previous year, according to VCI. Capacity utilization in the German chemical industry improved to 82.7 percent and was thus in the lower normal range.
"Another difficult year is ahead for the chemical and pharmaceutical industry in Germany," said VCI director general Wolfgang Grosse Entrup. "The export-oriented German industry generally and, in consequence, the chemical sector will feel the impacts of the corona epidemic."
