Core Insights - In the first quarter of this year, China's imports of chemical products from the EU increased, while exports decreased, indicating potential growth in trade scale in the future [1][2] Group 1: Trade Performance - China's total import value of chemical products from the EU reached $4.41 billion, a year-on-year increase of 3.4% [1] - The total export value of chemical products to the EU was $8.21 billion, showing a year-on-year decline of 1.0% [1] Group 2: Future Trade Trends - The EU is one of China's largest import and export markets for the petrochemical industry, with potential for further growth as economic development and industrial cooperation deepen [1] - Short-term fluctuations in trade scale may occur due to the EU's economic weakness in 2023, leading to a decrease in chemical sales and production, which affects import demand [1] Group 3: Product Structure and Competitive Advantage - China maintains a cost advantage in the mid-to-low-end chemical sector, but the export share of high-end and specialty chemicals is expected to gradually increase due to industry upgrades [1] - The EU is likely to continue strengthening its exports to China in high-end chemicals, specialty chemicals, and pharmaceutical intermediates [1] Group 4: Regulatory Impact - The EU's carbon border adjustment mechanism began trial operation on October 1, 2023, with plans to expand its applicability to chemicals by 2026, increasing costs for Chinese chemical exporters [2] - China's domestic chemical regulations are also being improved, indirectly affecting trade by requiring companies to focus more on product compliance [2]
一季度中欧化学品贸易进口增出口降