U.S. CHEMICAL INDUSTRY
the foreign trade it generates
U.S. chemical makers widened their foreign trade balance and share of world markets The U.S. trade surplus hit a record $11 billion last year as U.S. exports rose nearly 10% to top the $100 billion mark for the first time—and by a comfortable margin at that. A cool domestic economic climate, meanwhile, put a lid on imports, which fell 4% from the year before. Nearly half the trade surplus can be attributed to chemicals. Although both exports and imports of chemicals dropped last year for the U.S., exports suffered the least. So the U.S. chemical industry ended with a record $5 billion trade surplus. U.S. competitive strength in world chemical trade helped it recoup some of its lost share of the world market. It accounted for just over 20% of world chemical exports last year, up from 18.5% in 1974.
U.S. chemical trade surplus held at $5 billion in 1975 |
$ Billions 8 10
Exports 8
6
j*?****** 4
,..···'
2
Western Europe continues to be the biggest foreign market for U.S. chemicals, taking nearly a third of the total. But Latin America also is becoming a sizable outlet, accounting for about 25% of all U.S. chemical exports last year compared with 20% two years earlier. Almost half of U.S. imports of chemicals come from Western Europe, with nearly another quarter stemming from Canada.
y
m Imports
^sSi-
0 1973
Reflecting overall global recession, worldwide chemical exports were down 6% in 1975. Of the leading chemical exporting nations, only France and Switzerland showed gains—and even these were very small. On the other hand, West German chemical exports and those of the Netherlands were both hit by a 13% decline.
y
»**" îi_ Traite b a l a i i e e , ^ ^ ^o*»»»»»"'1^
1974
1975
1976
a Running 12-month values for U.S. chemical exports, imports, and trade balance. Source: Bureau of the Census
U.S. share of world chemical exports recovers % of world exports* 26 All manufactured products 24 Chemicals 22
20
18
16
L
1965
1973
1974
1975 b
a Based on current rates of exchange. World exports are defined as exports from 15 major industrial countries which account for about 80% of exports to foreign markets (excluding to the U.S.) of manufactured products: Austria, Belgium, Canada, Denmark. France, West Germany, Italy, Japan, Luxembourg, the Netherlands, Norway, Sweden, Switzerland, U.K., and U.S. b Average of first three quarters. Source: Department of Commerce
June 7, 1976 C&EN
67
U.S. CHEMICAL INDUSTRY
U.S. trade balance surges
the foreign trade it generates
3
Exports Imports15 Trade balance
World chemical trade dropped last year $ Millions
1975
1974
1973
1965
$59,950*
$63,980*
$40,080
$12,220
8,705
8,822
5,749
2,402
1,063
1,069
753
291
1975
1974
1973
1965
$107,191 96,140 11,051
$ 97,907 100,218 -2,311
$70,823 69,476 1,347
$26,691 21,364 5,327
CHEMICAL EXPORTS U.S. Canada b
EEC, nine countries Belgium-Luxembourg France West Germany Italy
32,203
35,487
22,479
6,098
3,429
3,651
2,313
394
4,997
4,965
3,524
1,012
10,550
12,166
7,944
2,077
2,583
3,124
1,652
605
Netherlands
4,998
5,761
3,413
653
U.K.
4,837
5,029
3,120
1,230
Switzerland
2,759
2,705
2,021
585
Japan
3,889
4,049
2,139
547
. . . but chemical surplus grows only a little 0
Chemical exports Chemical importsb Chemical trade balance
1975
1974
1973
1965
$8705 3696 5009
$8822 4018 4804
$5748 2437 3311
$2402 778 1624
a Exports of domestic and foreign merchandise, excluding Department Grant-Aid shipments. FAS value (free alongside ship), b General imports. reported as FAS value. Prior to 1974, reported as foreign value, which FAS value, c Exports of domestic merchandise, including Department Grant-Aid shipments. Source: Department of Commerce
Organics, plastics led chemical exports 3 ...
CHEMICAL IMPORTS World U.S.
3,696
4,018
2,463
781
Canada
1,772
1,858
1,230
491
22,115
24,096
15,703
4,026
EEC,b nine countries
SITCNo.b
Classification
Organic chemicals
Belgium-Luxembourg
2,408
2,755
1,664
428
Inorganic elements, oxides, hydroxides, and halogen salts
France
4,336
4,696
3,112
706
Other inorganics
West Germany
5,280
5,211
3,572
840
Radioactive materials
Italy
2,825
3,271
2,263
482
Mineral tar and crudes
Netherlands
2,717
3,005
1,911
506
Dyes and color lakes
U.K.
3,129
3,708
2,200
729
Synthetic tanning materials
Switzerland
1,446
1,711
1,141
344
Pigments, paints, varnishes
Japan
2,057
2,668
1,858
408
Medicinals and pharmaceuticals Cosmetics and toiletries Cleaning and polishing materials Fertilizers, manufactured Explosives
West Europe is big trade partner for U.S 1975
1973
Plastics and resins
Canada Western Europe Eastern Europe Communist Asia Japan Rest of Asia Middle East Latin America Australasia Other TOTAL
TOTAL
$1223 2699 84 5 589 990 272 2135 248 460 $8705
$1213 2665 54 10 766 936 181 2245 351 461 $8882
$ 844 1905 30 8 629 575 119 1165 212 261 $5748
870 1709 23 16 387 42 40 144 240 225
837 1960 42 18 486 80 16 219 196 164 $4018
554 1186 19 8 239 36 13 94 151 137 $2437
$ 382 874 10 148 239 52 479 84 134 $2402
Western Europe Eastern Europe Communist Asia Japan Rest of Asia Middle East Latin America Australasia Other TOTAL Source: Department of Commerce
68
C&EN June 7, 1976
222 324 4
12 1 71 13 85 $778
$ MILLIONS 1974 1973
1965
$2372 $2568 $1510 $ 669 605 509 338 157 338 314 59 86 6 152
93 172 1083 60 1173 1229 $8705
327 206 101 43 215 284 25 84 72 31 117 86 2 4 6 60 182 126 800 626 256 38 84 110 24 57 85 60 175 122 812 407 153 21 50 31 1618 1028 425 1166 767 377 $8822 $5748 $2402
. . . while inorganics helped boost imports0 SITC No. b
U.S. CHEMICAL IMPORTS Canada
Miscellaneous
1965
U.S. CHEMICAL EXPORTS
1975
Flavor and perfumes
a C&EN estimates, b European Economic Community. Historical data have been adjusted to reflect present nine member countries. Sources: United Nations, Organization for Economic Cooperation & Development, European Economic Community, individual country data
$ Millions
of Defense and Starting in 1974 is within 1 % of of Defense and
512 513 514 515 521 531 532 533 541 551 553 554 561 571 581 599 TOTAL
Classification
Organic chemicals
$ MILLIONS 1975d 1974 1973 1965 $1026 !$1363 $ 630 $161
Inorganic elements, oxides, hydroxides, and halogen salts
734
608
429 115
Other inorganics
112 184 13 67 7 28 233 77 38 31 635 24 226 261
132 130 10 94 9 25 211 140 36 29 631 20 327 253
94 43 151 61 6 9 104 27 7 11 21 5 164 57 89 45 36 12 5 19 280 124 27 9 207 40 174 53
Radioactive materials Mineral tar and crudes Dyes and color lakes Synthetic tanning materials Pigments, paints, varnishes Medicinals and pharmaceuticals Flavor and perfumes Cosmetics and toiletries Cleaning and polishing materials Fertilizer, manufactured Explosives Plastics and resins Miscellaneous
$3696 $4018 $2437 $778
a Exports of domestic merchandise, including Department of Defense and Grant-Aid shipments. FAS value (free alongside ship), b Standard International Tariff Classification, c General imports (FAS value-free alongside ship), d C&EN estimates based on 11-month data.
