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 Feique estima un crecimiento de un 4 por ciento de las exportaciones en 2005

Feique estimated growth of 4 per cent of exports in 2005

06/05/2005

on May 6, 2005

The Business Federation of the Spanish chemical industry (Feique) expected to grow three percent in chemical production and an increase of more than four percent in exports of their products for this year 2005.

Press Conference in Huelva, the President of Feique, Francisco Belil, stated that, although growth will be less than the of the 5.7 percent experienced in 2004, which yielded a value of 34 billion euros, it will be "positive" because it is based on that price "grow less than last year".

Belil also pointed out that the growth experienced in 2004 was "very important" taking into account "unfavourable elements such as the increase in the price of crude oil, the value of the euro against the dollar or the resentment of some economies such as the French or the German".

The President of Feique explained, in the same way, that, while the Spanish consumption absorbs 25 per cent of the production, which translates to 42,500 million euros, 50 per cent of the current production is intended to exportwhich led to an increase of 4.9 per cent in 2004 compared to 2003.

Belil also highlighted investor leadership of chemical Spain, which he said that they spend one of every four euros to r & d projects, while one of every five existing researchers belong to the chemical sector and pointed out thatfrom the year 2000, investment in research and development increased by 38 per cent, with 650 million euros invested by the sector in 2004.