EU chemicals trade balance outgrows other segments in Feb

LONDON (ICIS)–Chemicals imports and exports to and from the EU increased in February, according to the latest data released by Eurostat on Wednesday.

The segment for chemicals and related products recorded the highest growth  in trade balance of those outlined in February compared to a year prior.

While imports rose by 16%, exports increased by more than a third compared to February 2024.

Table shows monthly change in €billions compared to the previous year.
Source: Eurostat

European chemicals producers have been struggling to remain competitive with other regions, due to a complex regulatory landscape and higher energy prices.

The increase in exports demonstrates resilient demand for specialised materials made in Europe, especially if those products cannot be manufactured elsewhere.

This builds on the growth in January, when the chemicals segment was the only one to record an increase compared to the previous year.

Eurostat’s initial estimates is that the overall EU trade balance in goods with the rest of the world stood at a surplus of €23.0 billion in February, compared to €21.8 billion a year prior. Data from Eurostat is subject to revision following publication.