AccountGuest Edition My Account My Che.com Log In
Article
Email Email Print Print
Clip Clip & File

Only on Che.com :: Latest News

February 17, 2014

U.S. trade surplus in chemicals expanded in 2013, ACC says

Scott Jenkins

U.S. exports of chemicals grew 0.4% in 2013, while chemical imports declined by 1.0%, expanding the trade surplus in the U.S. chemical industry to $3.4 billion, according to the American Chemistry Council (ACC; Washington, D.C.; www.americanchemistry.com). The value of the exports was $189.1 billion in 2013, while the value of the imports was $185.7 billion, the ACC said in its latest Weekly Chemistry and Economic Report.
 
However, a large deficit exists for the trade of pharmaceuticals. If pharmaceuticals are excluded, exports of chemicals were valued at $141.3 billion in 2013, compared to $100.1 billion for imports, the ACC report says. This gives rise to a $41.3 billion trade surplus for chemicals excluding pharmaceuticals. This value is slightly larger that the $41.2 billion surplus that was observed in 2012, ACC said.
 
“The chemical industry [in the U.S.] typically posts a surplus in all major segments except pharmaceuticals and agricultural chemicals. The largest contributor to net exports is basic chemicals, where exports of petrochemical derivatives and other industrial chemicals far outweigh imports,” the ACC report says.
 
The ACC report also included information from the U.S. Census Bureau, which indicated that wholesale trade in chemicals was flat in December of last year in the U.S., while inventories rose $4.6%.
 
In other recent data included in the ACC report, overall production in the business of chemistry fell 0.7% in January, and capacity utilization fell also. The decline partially reflected the inclement weather that affected much of the country last month, the report says.
 
Looking globally, the composite leading indicator from the Organization for Economic Cooperation and Development (OECD; Paris; www.oecd.org) points to an improving economic outlook in most advanced countries.
 

Add a Comment

Name:
Email:
Comments:

Please enter the letters or numbers you see in the image. (refresh)
 
 

Related Stories

LinkedIn Groups

Our LinkedIn group is now over 28,000 members strong!

  1. Join other CPI professionals from all over the globe and share best practices, expertise, concerns and more.
  2. Provide feedback to Chemical Engineering Editors


Current members represent Worley Parsons, DuPont, SABIC, Fluor, Air Products, LyondellBasell, Nalco, Dow Chemical, Dow Corning, BASF, Jacobs Engineering, ExxonMobil, Shell, Chevron and more.

Join Now



We also offer the following subgroup for more targeted discussions:

Tools
Search the Buyers' Guide

Plant Cost Index

Facts at Your Fingertips (archive)

Ask the Experts

Back Issues
X
To access this area, please log in or create an account.
Username:
Password:
Forgot your password?
Request it now.
Processing...
Live chat by BoldChat