January 1999

Trends and Resources

HP In Brief: HPIn Brief

The U.S. chemical industry had a $13.5 billion positive trade surplus in 1998. Thus, it retained its record as the nation's number one exporter. Data from the Chemical Manufacturers Association (CMA) ..

Weirauch, Wendy, Hydrocarbon Processing Staff

The U.S. chemical industry had a $13.5 billion positive trade surplus in 1998. Thus, it retained its record as the nation's number one exporter. Data from the Chemical Manufacturers Association (CMA) notes, however, that shipments of chemicals and allied products decreased by 0.4%, in a year when U.S. chemical exports fell, while imports grew. Exports declined 1.4%, due to the economic crisis in Asia and the high U.S. dollar. Imports rose 9.3%, while shipments of industrial chemicals fell 5.9%. The year was one of "very tough competition, with strong downward pressure on pricing, the loss of some export markets and growing overcapacity." Domestic demand for chemicals provided the main suppor

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