EU27 PMMA net imports increased in Q1, according to the lastest data by Eurostat. In the first quarter of 2023, the European Union (EU27) experienced substantial fluctuations in its PMMA (polymethyl methacrylate) import and export trade flows. Analyzing the data, we can identify both absolute and relative changes in PMMA trading.
Export Fluctuations: Initial Surge and Subsequent Decline
Starting with exports, the EU27 began the year exporting 756 metric tons (MT) of PMMA in January. By February, exports surged to 1042 MT, marking an increase of 286 MT. This translates into an impressive growth of roughly 37.83%. However, the upward trend was not sustained into March. Despite the surge in February, March’s export figure declined to 842 MT, a decrease of 200 MT from the previous month, representing a 19.19% drop.
Import Growth: Rising Volumes
While the export market showed a roller coaster of fluctuation, the import side of the EU27’s PMMA trade presented a different story. In January, the EU27 imported 3199 MT of PMMA. There was a significant rise in imports in February, climbing to 5517 MT, showing an increase of 2318 MT from January’s figures. This increase signifies an impressive 72.46% growth in EU27 PMMA net imports.
Steady Imports: Minor Decline in March
However, unlike the export figures, the import numbers for March didn’t reflect a sharp decline. The EU27 imported 5439 MT of PMMA, slightly below February’s figure, marking a decrease of 78 MT, equivalent to a 1.41% drop.
Widening Trade Deficit: Import Outpacing Exports
The absolute and relative changes in PMMA trade flows during Q1 2023 indicate a widening trade deficit for the EU27 in terms of PMMA trading. The import volumes consistently outpaced the export volumes throughout the quarter. Specifically, the net trade deficit for the EU27 in the PMMA market rose from 2443 MT in January to 4475 MT in February, and further to 4597 MT in March.
Conclusion
In summary, the first quarter of 2023 witnessed a significant shift in the PMMA import and export trade in the EU27. While exports saw an initial surge before falling back, imports consistently increased, leading to a widened trade deficit in PMMA.