The German Chemical Industry Association recently stated that due to the continuous appreciation of the euro and the soaring of crude oil prices, the overall output of the German chemical industry is expected to increase by 2.5% in 2008, and sales revenue will increase by 4.5%, a slight slowdown compared with this year.
The association said that the German chemical industry's production in 2007 is expected to increase by 4.5% over the previous year, and total sales revenue increased by 7.5% to 174.4 billion euros. Among them, domestic sales are expected to increase by 7%, and foreign sales increase by 8%. The chairman of the association, Li Ningya, CEO of Germany Henkel Group, also stated that the price of German chemical products in 2007 is expected to increase by 2.5%, and it will further increase by 2% in 2008.
The German chemical industry began to prosper again in 2003. Companies in the industry have actively invested in the Chinese market and benefited from the rapid economic growth in China. The report shows that the German chemical industry employed 439,900 people in 2007.
The association said that the German chemical industry's production in 2007 is expected to increase by 4.5% over the previous year, and total sales revenue increased by 7.5% to 174.4 billion euros. Among them, domestic sales are expected to increase by 7%, and foreign sales increase by 8%. The chairman of the association, Li Ningya, CEO of Germany Henkel Group, also stated that the price of German chemical products in 2007 is expected to increase by 2.5%, and it will further increase by 2% in 2008.
The German chemical industry began to prosper again in 2003. Companies in the industry have actively invested in the Chinese market and benefited from the rapid economic growth in China. The report shows that the German chemical industry employed 439,900 people in 2007.
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