11 May India’s epidemic is fermenting again, and the chemical industry has a major impact!
The epidemic affected India’s chemical imports and exports significantly declined
Jiujiang Huirong Chemical New Materials Co., Ltd. learned from the European Council of Chemical Industry 202 report (Cefic-2020) that in 2018, the world’s chemical product (non-medicine) sales amounted to 3.35 trillion euros, of which chemical sales in India reached 890 Billion euros, ranking fourth in Asia and sixth in the world, accounting for approximately 2.66%. According to the 2020-21 annual report of the Ministry of Chemistry and Petrochemicals (DCPC) of India, the exports of Indian chemicals and chemical products (excluding pharmaceutical products and fertilizers) accounted for 14.9% in 2020-21 (as of September 2020). -20 The same period in the same period was 12.4%. From 2015-16 to 2019-20, the average compound annual growth rate of India’s imports and exports of chemicals and chemical products was higher than the average compound annual growth rate of the country’s total imports and exports. However, due to the impact of the new crown epidemic, India’s imports and exports of various chemicals and chemical products have dropped significantly year-on-year. According to data disclosed by DCPC, from April to September 2020, the total import and export volume of Indian chemicals and petrochemical products decreased by 33.0% and 20.6% year-on-year, respectively. Among them, the import and export volume of tanning dyes and man-made fibers fell particularly severely. The total import and export volume of tanning dyes fell by 41.7% and 37.4% year-on-year, respectively, and the total import and export volume of man-made fibers fell by 62.9% and 61.7% year-on-year.