Chemicals industry expands 7.8% in 2018
Hungary’s chemicals industry grew 7.8% last year, outpacing the average growth of the sector in the European Union; this year’s expansion is likely to be more modest because of the high base, the head of the Hungarian Chemical Industry Association (Mavesz) told business daily Világgazdaság.
Iván Budai noted that exports account for almost 70% of chemicals industry revenue, and three-quarters of that comes from orders in the EU. He said an increase in domestic sales last year, after several years of decline, was a favorable development.
Managing the labor shortage, boosting energy efficiency and meeting emissions targets are among the challenges the industry faces, Budai told Világgazdaság.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.