Hungary Chemicals Industry Expands 7.8% In 2018

  • 18 Jul 2019 7:33 AM
  • Hungary Matters
Hungary Chemicals Industry Expands 7.8% In 2018
Hungary’s chemicals industry grew 7.8% last year, outpacing average growth of the sector in the European Union, but this year’s expansion is likely to be more modest because of the high base, the head of the Hungarian Chemicals Industry Association said in Wednesday’s issue of business daily Világgazdaság.

Iván Budai noted that exports account for almost 70% of chemicals industry revenue, and three-fourths of that comes from orders in the EU.

He said an increase in domestic sales last year, after several years of declines, was a favourable development.

Managing the labour shortage, boosting energy efficiency and meeting emissions targets are among the challenges the industry faces, he told Világgazdaság.

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