This news article was originally written in Spanish. It has been automatically translated for your convenience. Reasonable efforts have been made to provide an accurate translation, however, no automated translation is perfect nor is it intended to replace a human translator. The original article in Spanish can be viewed at El sector químico crecerá el 4,7 por ciento en 2007

The chemical sector will grow 4.7 percent in 2007

10/07/2007

July 10, 2007

Fernando Iturrieta, Feique (Enterprise of the industry chemistry Spanish Federation) President presented, during the Assembly annual Federation held in early July, the prospects for growth and competitive analysis of the Spanish Chemical Sector.

In a scenario that includes the average price of a barrel of oil at $60 and a growth of 3.4 per cent to Spanish GDP, Feique forecasts for the chemical industry in 2007 indicate a growth of 4.7 percent compared to 2006, which will involve raising the value of production to 39.916 million euros. For its part, the sales will be located in close to 50 billion.

The growth of the sector will be fueled by improving levels of production (3.5%), reflecting a more moderate behavior of prices (1.2%).

Previews 2008
For 2008 provides a correction of the average price of crude oil to the environment of the 55 dollars and a Spanish of 3.3 per cent GDP growth. In this scenario, the forecasts point to that sector will maintain a good pace of growth, 4.6 per cent, again supported by the growth of production volume (3.1 per cent) and a more moderate behavior of prices (1.5%).

Thus, the value of production exceed 41,700 million euros and sales will over 53.300 million.

The President of Feique also analysed the situation of main competitiveness factors currently affecting the sector, and essentially those referred to the entry into force of the Reach the supply rules and energy costs, or the problem of transport infrastructure.

To view the speech of the President with competitive analysis, click the link

And to see the full x-ray of the Spanish Chemical Sector, click here