France's 84.5-billion [euro]/year ($108.5 billion) chemical industry, the world's Fifth-biggest, is headed for a recovery in 2004 following several years of relative stagnation, sources say. Signs of an improvement appeared in the second half of 2003 and growth is gathering pace this year, sources add. The industry's performance will be stimulated by exports to faster growing parts of the world such as Asia/Pacific and by a slight improvement in domestic demand, sources say. OECD (Paris) forecasts GDP growth of 1.7% for France in 2004 compared with 0.1% last year. A possible continued strengthening in the value of the euro could jeopardize export growth, however, OECD says.
France's chemical industry recorded "modest" output growth of 1.2% in volume terms in 2003, after a slight decrease in 2002, industry association UIC (Paris) says. Growth will be 2.9% this year, UIC adds.
The performance of France's chemical industry currently varies from sector to sector. The basic chemicals sector achieved "encouraging results" in the …
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