Chemical exports in EU drop by 5 percent to USD562.8B last year

(MENAFN) In 2023, the European Union's chemical exports experienced a 5 percent decline, totaling €525 billion (USD562.8 billion), according to Eurostat. The chemical category encompasses a wide range of products, including chemical materials, fertilizers, medical and pharmaceutical items, as well as plastics, as detailed by the statistics office.

Germany was the largest chemical product exporter within the EU, with exports amounting to USD139.3 billion. It was followed by Belgium, which exported USD71.7 billion worth of chemicals, and Ireland with USD68.5 billion. Other significant exporters included France, with USD55.7 billion, and the Netherlands, with USD48.2 billion in chemical exports.

When it comes to destinations for EU chemical exports, the United States was the leading recipient outside the region, importing USD148.9 billion in chemicals. Switzerland followed with USD59.9 billion, the United Kingdom with USD51.4 billion, China with USD42.8 billion, and Turkey with USD18.2 billion. These countries were the largest markets for EU chemical products in 2023.

In terms of chemical imports, Germany topped the list of EU member states with USD58.9 billion worth of chemical imports. Belgium was the second largest importer at USD53.5 billion, followed by the Netherlands at USD46 billion, Italy at USD31 billion, and France at USD28.9 billion, reflecting the strong demand for chemical products within the EU's internal market.

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